What does that number in futures mean? Like corn 0909, is it a date? If I open a position and join the club, I won't make physical delivery at this time.
0909 means that you understand the contract delivered in September 2009 correctly, but individual investors are not allowed to deliver, and only legal persons can deliver in kind. Individuals usually have to close their positions one month in advance, that is to say, if you hold the C0909 contract, you are required to close your positions before August 1, and ordinary individual speculators will close their positions two months in advance, because as the delivery month approaches.