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In a sense, the history of futures trading is split into two histories, both of which focus on efforts to enhance the commercial marketplace's efficiency. Amp Futures beginning of the story tells how people in an agrarian society used forward contracts agreements to buy now but pay and deliver later to efficiently transport farm products from producers to consumers at predetermined prices and delivery terms. Amp Futures also tells how those forward contracts developed into futures contracts. In order to meet the requirements of complex financial markets in a society whose economy was no longer primarily based on agriculture, the present story explains how the futures industry reinvented itself in the latter part of the twentieth century, essentially by redefining the meaning of commodity.