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TeachMeFinance.com - explain futures Futures -- Contracts that require delivery of a commodity of specified quality and quantity, at a specified price, on a specified future date. another definition... futures -- contracts for the sale or purchase of a specified item at a specified price on a given date in the future. When the item sold or purchased is an interest-bearing security, the contract is called an interest-rate future, or a financial future. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.