首當其衝的特定商品
Oliver and Sasha run a chain of coffeehouses and roasteries. They are worried that the price of coffee beans will rise because of inflation.
奧利佛與莎夏經營連鎖咖啡廳與烘豆廠。他們擔心咖啡豆的價格會因通貨膨脹而上漲。
inflation(n.)通貨膨脹deflation(n.)通貨緊縮
Oliver: If coffee beans become more expensive, I’m afraid that our profit margins will decrease.
奧利佛：如果咖啡豆變得更貴了，恐怕我們的利潤率會下滑。
profit margin利潤率、利潤幅度decrease(v.)下降、減少increase(v.)提高、增加
Sasha: I think it’s time for us to consider buying futures contracts so as to hedge the risk.
莎夏：我想我們是時候考慮買進期貨合約好管控風險。
hedge(v.)控制、限制；(n.)保護機制或措施
Oliver: Although futures allow us to lock in a predetermined price and we can trade the commodity at a later date, there is a chance that we could lose money when the price trends downward.
奧利佛：雖說期貨讓我們能將價格鎖定在先前約定的水平，並可稍後再進行商品交易，但當價格下跌時，我們還是可能會虧錢啊。
commodity(n.)貨物、商品good(n.)貨物、商品merchandise(n.)(交易的)貨物、商品trend downward呈下滑趨勢trend upward呈上升趨勢
Sasha: Investment is always risky. Trading futures is no exception. Businesses like ours are pretty much reliant on certain products, and hence we take the brunt of the cost increase when the prices go up.
莎夏：投資本來就有風險，期貨交易也不例外。我們這行相當仰賴特定商品，因此價格上漲時，我們總是首當其衝承受成本上漲。
risky(adj.)有風險的、危險的be no exception不例外be reliant on仰賴～take the brunt of sth.首當其衝承受某事
Oliver: You’re right. Buying futures seems to be our way out since it may work in our favor.
奧利佛：你說的對，買進期貨似乎是我們的解決之道，因為這可能對我們有利。
work in one’s favor對某人有利work against sb.對某人不利
Sasha: We can sell the futures contracts before they expire in order to make a profit from the price difference.
莎夏：我們可以在到期前轉賣期貨合約，藉由價差賺取利潤。
expire(v.)到期、期滿expiration date到期日、有效日期=expiry datemake a profit from從～中獲利price difference價差