Futures contracts are financial agreements to buy or sell a specific quantity of a commodity, currency, or other asset at a set price on a future date. They are traded on futures exchanges, and their prices are determined by supply and demand.
Futures contracts are used by investors to hedge against risk, speculate on future price movements, and to lock in prices for future purchases or sales. They can be a complex and risky investment, but they can also be a powerful tool for investors who understand how to use them.