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<p>[QUOTE=&quot;medoraman, post: 1470845, member: 26302&quot;]1000% factually incorrect. The vast majority of ALL commodity contracts are never delivered, and are simply offset. A farmer &quot;sells&quot; his corn on the CME. When his crop comes in he physically sells it to the local elavator and then buys the offseting position on the CME. This gain or loss effectively locked in his price when combined with the proceeds from the local elavator. Only basis change will mathematically make this not a true statement.</p><p><br /></p><p>Btw open interest is the number you need to look at, not number of futures since open interest is the true quantity of contracts created. </p><p><br /></p><p>I am sure you will argue with me Fatima, as usual. However, I am in agriculture, and just spent 2 days AT the CME talking to traders, CME officials, etc. Everyone else here should take that into account if they wish to believe you over me or others with real experience in these markets.</p><p><br /></p><p>Edit: Btw, I am not trying to be snarky or condescending. I am, though, saying I asked these questions specifically to get these answers just a few days ago to people who do this every day. I am not saying I am smart, just have pointed, recent experience. I was physically able to ask CME officials these questions, something which most coin collectors do not have the chance to do.[/QUOTE]</p><p><br /></p>

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