Generally, the commodities corresponding to futures contracts will end in two ways: first, the position holder will reverse the position, and the warehouse receipt in his hand will disappear after closing the position, and there is no corresponding spot. Second, when entering the delivery, the multi-warehouse holder uses the warehouse receipt to extract the spot from the delivery warehouse stipulated by the state, and the spot is provided by another warehouse holder who holds the empty bill. After withdrawing the spot, the transaction is over. I hope I can help you.