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<p>[QUOTE=&quot;fatima, post: 1475112, member: 22143&quot;]First of all to clear up the confusion, there is no such thing as a long contract or short contract.&nbsp; What you have is either a long position or a short position for a futures contract(s).&nbsp; The difference is whether you are buying a contract or selling it.&nbsp;&nbsp; </p><p><br /></p><p>With that said, I gave a simple example above that explains it so you might want to look back at what I said.&nbsp;&nbsp; if not then I ask you to do some homework.&nbsp; If you are a long and holding a futures contract for delivery of 5000 bushels of corn, and you offset it by shorting it to another buyer, then what happened to the contract or more importantly, the corn represented by the contract?&nbsp; Was the contract destroyed or did it simply end up in someone else&#039;s hands?&nbsp; If it was destroyed, then what happened to the corn and its relationship to the exchange?&nbsp; If the contract was not destroyed, then what happens at settlement?[/QUOTE]</p><p><br /></p>

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