Answer: Aluminum futures

## Explanation Hard commodities refer to natural resources that are mined or extracted, such as metals (gold, silver, aluminum, copper) and energy products (oil, natural gas). Soft commodities refer to agricultural products or livestock that are grown or raised. Let's analyze each option: 1. **Cattle futures (Option A)**: Cattle are livestock, which are considered soft commodities. They are raised rather than mined/extracted. 2. **Soybean futures (Option B)**: Soybeans are agricultural products, which are also considered soft commodities. They are grown rather than mined/extracted. 3. **Aluminum futures (Option C)**: Aluminum is a metal that is mined and processed from bauxite ore. This makes it a hard commodity. Therefore, among the three options, only aluminum futures have a hard commodity underlying. **Key distinction**: - **Hard commodities**: Metals, energy products, minerals - **Soft commodities**: Agricultural products, livestock, forest products

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