The hedgers in hedging transactions, the spot market and the futures market, the market direction must be opposite, that the spot market is long, the futures market must be short, or the stock market is short, the futures market is long, otherwise, it is speculative rather than hedging huge exposure, because of the presence of transaction leverage the same or similar goods in the two market price movements, bound to be a market profit and loss in another market and realized gains and losses offset so as to achieve the purpose of hedging that locked the commodity market prices.