Futures allow consumers to purchase wine at lower prices while it is still in the barrel.
The only catch is that you don't get to taste the wine., and you have to wait two years for it to show up at you wine store. Futures seem to have favored the drinker in recent years. The wineries get cash immediately on a portion of their inventory, but the rise in wine prices is outstripping most financial alternatives. Terry Gibbs, a consultant at Frank's just got back from tasting well over 100 wines in the barrel in France and reports that many of the 1998 wines from vineyards with lots of Cabernet Sauvignon are still closed and tannic. Many places picked early because of the fear of rain, and it is difficult to tell how much fruit is there.