These are financial futures. For some evidence that the presence of futures stabilises spot commodity prices see e.g. http://qed.econ.queensu.ca/CNEH/2005/paper

These are financial futures. For some evidence that the presence of futures stabilises spot commodity prices see e.g. http://qed.econ.queensu.ca/CNEH/2005/papers/futures_CNEH_0305.pdf http://qed.econ.queensu.ca/CNEH/2005/papers/futures_CNEH_030...