Case 1: Rapeseed oil producers are most worried about the decline in product prices, resulting in loss of profits. Therefore, companies usually sell rapeseed oil futures to avoid price risks.

Suppose that in June 1 1 day, the spot price of national standard grade ⅳ rapeseed oil in a certain place is 8800 yuan/ton, and a local oil factory produces 2000 tons of rapeseed oil every month. Because the price of rapeseed oil is already in the historical high price range, oil plants are worried that the sales price of rapeseed oil may be difficult to maintain a high level in the coming months. In order to avoid the risk of spot price decline in the later period, the factory decided to hedge the rapeseed oil futures market. The price of September rapeseed oil futures contract fluctuated around 8900 yuan/ton, and the factory sold 400 lots (1 lot =5 tons) of September rapeseed oil futures contract for hedging.

As expected by the oil mill, the price of rapeseed oil began to decline as the oil mill accelerated the pressing speed of rapeseed oil and a large number of rapeseed oil went on the market. In July 1 1, the rapeseed oil futures 709 contract and the spot market price both fell to 8000 yuan/ton. At this time, the factory sold 2,000 tons of rapeseed oil in the spot market at a price of 8,000 yuan/ton, and bought 400 contracts of September rapeseed oil in the futures market at a price of 8,000 yuan/ton. Although the spot price decreased and the sales price of oil plants decreased, the sales profit of enterprises was protected in the fall of oil prices because the factories hedged in the futures market.