A short futures position has a payoff of $F_0 - S_T$ at expiration (ignoring discounting). By put-call parity, a long put plus a short call with the same strike replicates this payoff:

$$\text{Long put payoff} - \text{Short call payoff} = \max(K-S_T,0)-\max(S_T-K,0)=K-S_T$$

If $K = F_0$, this matches the economics of a short futures position. The correct choice is C.