The risks of fluctuating farm prices must be borne by somebody; they have in fact been borne in modern times chiefly by the professional speculators.

因为，农产品价格波动的风险必须要有人来承担，而在现代社会中，这些风险其实主要是由职业投机商们承担的。

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It is precisely because a professional class of speculators exists to take these risks that farmers and millers do not need to take them.

正因为有职业投机商承担了这些风险，农民和粮食加工业者才得以免除风险。

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It was also 10 years ago this month that the number of bullish gold futures on the US Comex market held by professional speculators first broke above 100, 000 contracts.

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Speculators can be professional traders, or amateurs with a futures broker.

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There are the purer speculators, which I think of as the professional commodity traders who are trading for themselves or for funds.

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