What is futures price in SAP LO-AGR-CC - Commodity Contracts, Expenses, Basic Functions?

SAP Term: futures price

• Component: LO-AGR-CC

• Component Name: Commodity Contracts, Expenses, Basic Functions

• Description: The portion of the commodity’s price that is derived from a futures contract or the futures market.

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• Key Concepts: 
  Futures price is a term used in the LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component of SAP. It is the price of a commodity or security that is agreed upon at the time of a contract's initiation, but will not be settled until a later date. The futures price is determined by the market forces of supply and demand. 
  
  How to use it: 
  In SAP, the futures price can be used to calculate the cost of a commodity or security at the time of purchase. This can be done by entering the futures price into the system and then calculating the cost based on the current market conditions. The cost can then be used to determine whether or not to purchase the commodity or security. 
  
  Tips & Tricks: 
  When entering a futures price into SAP, it is important to remember that it is only an estimate and may not reflect the actual cost of the commodity or security at the time of purchase. It is also important to keep in mind that market conditions can change quickly, so it is important to monitor the market closely and adjust the futures price accordingly. 
  
  Related Information: 
  For more information on futures prices and how they are used in SAP, please refer to SAP's official documentation on LO-AGR-CC Commodity Contracts, Expenses, Basic Functions. Additionally, there are many online resources available that provide detailed information on futures prices and how they are used in SAP.