"Commodity Futures Market"  provides an introduction to the world of commodity trading. It begins by explaining the concept of a market as a place where buyers and sellers interact to trade goods, services, or contracts for money. It focuses on two segments of the commodities market: the spot market, where commodities are traded directly between buyers and sellers, and the forward market, where buyers and sellers enter into contracts.

The rationale for forward contracts is explored, highlighting how they help balance the supply and demand patterns of agricultural commodities. It discusses different types of forward contracts, with futures contracts being one of them. It explains that futures contracts are highly standardized and traded on recognized commodity exchanges. These contracts are used to protect against the risk of adverse price fluctuations.

It provides an overview of the regulation of the commodity futures market in India, which is governed by the Forward Contracts (Regulation) Act, 1952. The role of the Forward Markets Commission (FMC) in regulating futures trading is explained, and it is mentioned that trading in commodity futures can be done with the members of recognized exchanges.

The participants in commodity futures markets are discussed, including hedgers who manage risk, speculators who trade to earn profits, and arbitrageurs who take advantage of price differences in different markets. It emphasizes the benefits of commodity futures trading, such as price discovery and price risk management. It explains how futures prices provide valuable information for stakeholders and help farmers make informed decisions.

Lastly, the it highlights the major commodities in which futures trading is conducted in India. These commodities include edible oilseeds and oils, food grains, metals, spices, fibers, and others such as sugar, rubber, natural gas, and crude oil.

"Commodity Futures Market" serves as an introductory guide to understanding commodity trading. It explains the basics of the market, types of contracts, regulations, participants, benefits, and major commodities involved in futures trading. Also it aims to equip school students with fundamental knowledge about the commodity futures market.