| From Guardian: For most of the 150 years since organised commodity futures were introduced in Chicago and London in the mid-nineteenth century, the length of the forward curve and the concentration of liquidity and trading volumes were shaped by the operational needs of physical market users.
Most trading activity was driven by commodity producers, consumers and merchants using the market to hedge unsold inventories and work-in-progress against short-term price fluctuations..... Full Article: Source
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