The party with the short position determines when delivery will take place in a corn futures contract.What is a futures contract?A futures contract is an arrangement between two parties to trade a specific amount of a commodity or financial instrument for a set price and delivery date in the future. The two parties are referred to as the buyer and the seller, and the price they agree upon is referred to as the futures price. Futures contracts are commonly used by producers and consumers of a commodity to hedge against the risk of price fluctuations. The buyer of a futures contract agrees to purchase the underlying asset at the futures price on the delivery date, while the seller agrees to provide the asset. The delivery date is specified in the futures contract.The party with the short position determines when delivery will take place in a corn futures contract. This is because the party with the short position is responsible for providing the underlying commodity on the delivery date. Therefore, they have the right to specify the delivery date within the contract terms, subject to the approval of the party with the long position.