Spring wheat--

春小麦
you plant it in the spring and you harvest it in the fall.

是春季种植秋季收割
But they're allowing now delivery of either one.

两种小麦都可以用于交割
When Holbrook Working wrote the paper,

当霍尔布鲁克·沃金做这篇文章时
there was a separate contract for hard winter wheat

硬粒冬麦是单独有一份合约的
and so I think that there's some consolidation of these markets

因此我觉得当农产品期货重要性降低时
as agricultural futures is becoming less important.

市场的地位反而被巩固
That's why we just have--

因此我们现在有...
this is the only CBOT wheat market that's listed now.

这里列出的只是芝加哥交易所的小麦品种
You understand what the contract is?

你们能看懂这个合约吗
The contract is to deliver one of these varieties

这是用于交割其中一个小麦品种的合约
and there's a separate contract for each of these dates.

同时每个交割日也对应一份合约