Futures For You by Carley Garner
WHAT IS “FIRST NOTICE DAY”?
What exactly is “first notice day” and why does my broker require I offset positions ahead of it?
Although most futures market participants are speculators who hope to take advantage of price changes without the hassle of ever making or taking delivery of the underlying commodity, each futures contract represents that exact process. At least this is true of futures that are written against deliverable commodities such as corn, wheat, and soybeans ...