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https://futures.tradingcharts.com/tafm/tafm10.html
On the few occasions that a buyer accepts delivery against his futures contract, he is usually not given the underlying commodity itself (except in the case of financials), but rather a receipt entitling him to fetch the hogs, wheat, or corn from warehouses or distribution points.
https://www.britannica.com/topic/futures
Futures, commercial contract calling for the purchase or sale of specified quantities of a commodity at specified future dates. The origin of futures contracts was in trade in agricultural commodities, and the term commodity is used to define the underlying asset even though the contract is frequently completely divorced from the product.
https://www.investopedia.com/terms/f/futurescontract.asp
A futures contract allows an investor to speculate on the direction of a security, commodity, or a financial instrument, either long or short, using leverage.
https://testmyprep.com/subject/finance-1/futures-contracts-role-and-functions-of-the
A futures contract is an obligation to deliver or accept and pay for a certain underlying asset in the future. The main terms of the contract are its underlying asset and the delivery date. The main terms of the contract are its underlying asset and the delivery date.
https://www.thebalance.com/taking-delivery-of-commodities-via-the-futures-market-4118366
Dec 12, 2019 · The goal of a futures contract or an option on a futures contract is to replicate the price action in the underlying commodity or instrument. The delivery mechanism almost ensures the convergence of the two prices over time.
http://www.futurestradingpedia.com/physical_delivery.htm
The other form of delivery is Cash Delivery. Futures contracts that states physical delivery are referred to as "Physically Delivered Futures Contracts" and the long is obligated to purchase the underlying asset from the short upon maturity of the futures contract.
https://finance.zacks.com/four-major-economic-functions-futures-commodity-markets-7557.html
In spite of the apparent chaos, futures exchanges operate in an organized manner to provide vital economic functions, facilitating world trade on a macro level as well as stabilizing farm and ...
https://www.investopedia.com/articles/optioninvestor/06/goldsilverfutures.asp
Mar 25, 2020 · A precious metals futures contract is a legally binding agreement for delivery of gold or silver at an agreed-upon price in the future. A futures exchange standardizes the contracts as to the quantity, quality, time, and place of delivery. Only the price is variable.
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