本文从套期保值操作中基差风险的产生原因入手,研究了基差风险最小的套期保值策略,为企业、个人在期货市场上操作套期保值时提供了较好的分析价格风险、降低投资组合的系统性风险的理论依据. This paper starts with the reason of basement risk in hedging operations and studies the hedging strategy with the lowest base risk. It provides a good analysis of the price risk and reduces the risk for enterprises and individuals to hedge in the futures market. The theoretical basis of the systemic risk of the portfolio.