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Futures are agreements to buy or sell a specific asset at a specific time in the future at a pre-agreed price. These contracts are commonly used in financial markets to secure prices against market fluctuations.

Here are some key points about futures:

1. Definition: A future is a binding contract in which two parties commit to exchanging a specific asset (such as a commodity, currency, or stock) at a specific date in the future.

2. Uses: Futures are primarily used by investors, farmers, and businesses to reduce the risks associated with price fluctuations. For example, a farmer can sell his crop at a pre-determined price to protect himself from future price declines.

3. Trading: Futures are traded on exchanges, such as the Chicago Mercantile Exchange (CME), where prices are determined based on supply and demand.

4. Risks: Despite their benefits, futures contracts carry risks, such as the possibility of losing money if prices move in the opposite direction to what the investor expected.

5. Types: Futures contracts include several types, such as commodity contracts (such as oil and wheat) and currency contracts (such as the euro and the dollar).

If you would like to know more about a specific topic related to futures, feel free to ask your question!