Business / Agriculture / Futures Contract: A standardized agreement calling for deferred delivery of a commodity, or its equivalent, entered through organized futures exchanges. Most agricultural futures contracts call for physical delivery, but feeder cattle futures contracts call for cash settlement at contract maturity. In fact, contracts are usually liquidated before delivery. Traders are classified as hedgers or speculators. The FAIR Act of 1996 requires USDA to conduct research through pilot programs to determine if futures and options contracts can provide producers with reasonable protection from the financial risks of fluctuations in price, yield, and income inherent in the production and marketing of agricultural commodities.
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Contract Verb Synonyms: catch, acquire, get, come down with, develop, become infected with, go down with
Contract Adjective Synonyms: agreement, understanding, deal, bargain, arrangement, pact, commitment, obligation, compact
Contract Noun Synonyms: engage, agree, promise, covenant, undertake
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Business / Finance / New York Futures Exchange (NYFE): A wholly owned subsidiary of the NYSE that trades futures and futures options on the NYSE composite index. MORE
Business / Finance / Next Futures Contract: The contract settling immediately after the nearby futures contract. MORE
Business / Finance / Nearby Futures Contract: When several futures contracts are considered, the contract with the closest settlement date is called the nearby futures contract. The next (or the 'next out') futures contract is the one that settle MORE