Futures contracts trade on exchanges, similar to stocks and bonds, and don't require storage like a physical commodity does. (tradinginsights.schwab.acsitefactory.com)
In the past, these particular contracts traded at a discount to fair value somewhere around 20 basis points, meaning institutions were actually being paid for buying them. (blackrockblog.com)
Volume is the number of shares or contracts traded in a security or an entire market during a given period of time. (investopedia.com)