Futures markets trade futures contracts, and the smallest unit that can be traded is one contract.

期货市场交易的就是期货合约，最小的交易单位是一份合约。

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These producers may not want to bear the risk of what future spot prices will be, so they may contract in futures markets to sell their future outputs at market-determined prices.

这些制造商可能不愿承担期货价格和现货价格变化的风险，于是他们可以在期货市场取得合约，以市场确定的价格卖出他们的未来产品。

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Every barrel they buy in the futures markets they sell back again before the contract ends.

他们在期货市场上购买的每一桶石油他们又会在合约结束之前再卖回来。

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Namely, until positioning has pulled back, the dollar has bounced, markets contract further, and growth has slowed again.

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