A future is a contract to deliver or accept delivery of a specific quantity of a commodity by a certain date.

期货就是一个合约，这份合约规定在未来的确定日期交割确定数量的商品。

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The future contract which was born under the modern economic system, by its price discovery function and the circumvention risk function, occupies the main superiority in the commodity exchange.

现代经济体系下诞生的期货合约，以其价格发现功能和规避风险功能，在商品交易上占据主要优势。

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The prompt sale is the standardization the legal restraint and stipulated that will finalize some specific commodity contract in future some time and the place.

期货交易是标准化的受法律约束的并载明在将来某一时间和地点交割某一特定商品的合约。

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In February this year, we also launched the black pepper future, which was the first futures contract for the commodity.

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When backwardation happens, the future contracts of a commodity are actually priced lower than the price of the current month contract at the time of sale, and the investor (or ETF) can benefit by selling the current month high and buying the next month lower.

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