I'm against pure speculation, but forbidding futures outright would feel ... wrong. Locking prices for contracts up front is a useful thing. However, it might

I'm against pure speculation, but forbidding futures outright would feel ... wrong. Locking prices for contracts up front is a useful thing. However, it might be much more interesting, and societally more beneficial, to require that anyone trading in commodities futures must have, at all times, the facility to take delivery of the contracts. The upper limit of exposure for a trading desk would therefore be bound by the capacity of their physical infrastructure.