Buying and selling futures contracts on the same order to be executed at the same time. An example is placing an order to buy Dec Corn futures @ 3.00 and to sell Sep Corn futures @ 3.00 (0 cents premium) with the anticipation that Dec futures will gain value faster than Sep Corn futures (as in prices building "Full Carry").
The simultaneous buying and selling of two related markets in the expectation that a profit will be made when the position is offset.
The purchase of one futures contract and the sale of another in an attempt to profit from the change in price differences between the two contracts. Inter-market, intercommodity, inter-delivery, and commodity product are examples of spreads.