Can a futures price be considered a price prediction?

In one sense, yes, because the futures price at any given time reflects the price expectations of both buyers and sellers for a time of delivery in the future. This is how futures prices help to establish a balance between production and consumption. But in another sense, no, because a futures price is a price prediction subject to continuous change. Futures prices adjust to reflect additional information about supply and demand as it becomes available. [1]

References

[1] CME Group Self-Study Guide to
Hedging with Grain and Oilseed Futures and Options


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