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Is it practical to take actual delivery on a futures contract, and what is the process?
Not all futures contracts are deliverable.  Some futures are specified as cash settlement only. In the case of deliverable contracts, part of the specification of a futures contract will be the delivery locations.  As per my answer to your previous question, please see the CME Rulebook for details of delivery points for the deliverable futures contracts traded on CME, CBOT, NYMEX, and COMEX. Assuming your agreement with your broker allows you to exercise your right to take delivery, your broker will facilitate your delivery.  You will be required to pay the contracted amount (your buy price x contract size x number of lots), as well as a delivery fee, insurance, and warehousing fees.  In addition, your broker may charge you a fee for facilitating the delivery. You will be required to continue to pay insurance and warehousing fees so long as your holding of the underlying commodity is held in the exchange's designated warehouse. If you wish to take delivery yourself by having the commodity removed from the warehouse and delivered to you personally, then you will need to arrange this delivery yourself. Warehouse/delivery points obviously vary according the contract being exercised. See the CME Rulebook for available delivery points.  Some exchanges are more accommodating than others. The practicality of taking delivery very much depends on your personal circumstances.  An investment bank taking delivery of treasury bonds would be more practical than an individual investor taking delivery of treasury bonds.  This is because the individual investor would be required to deliver the bonds to a brokerage in order to sell them.  In the case of non-financial futures deliveries, it is hard to imagine any circumstance where an individual taking delivery would be practical.