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Commodity Futures
Financial contracts obligating the buyer to purchase an asset, or the seller to sell an asset, such as a physical commodity or a financial instrument, at a predetermined future date and price.
Price
The amount of money or its equivalent paid or charged for something, often determined by supply and demand.
Standardization
The process of establishing common standards or norms to ensure that products, services, or processes are consistent and compatible.
Futures Contracts
Standardized legal agreements to buy or sell something at a predetermined price at a specified time in the future, often used for commodities or financial instruments.
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