Are there any benefits and drawbacks of trading cash-settled futures available?

The futures contract or futures trading is an agreement between the buyer and a seller to exchange the underlying asset at the fixed price and the fixed date in the future. For example, if the buyer is agreeing on the contract in December 2014 to purchase at 5000 bushels of corn and expiry date will be in the middle of December. Then the seller of December 2014 is making the delivery at that time to...