Actuals

The physical commodity that underlies a futures contract or is traded in the physical market. This is the homogeneous commodity that is the basis for trade, either through the physical market or a derivative contract such as oil, corn or gold.

Investopedia Says:
Actuals are traded in either the physical market or the futures market. In the physical market, two parties enter into a private agreement to exchange the commodity for cash or another commodity, and delivery almost always occurs. In the futures market, two parties enter into an exchange-traded contract in which one party agrees to deliver a set quantity and quality of the underlying commodity while the other party agrees to purchase the commodity. In this case, delivery is not certain and parties can sell their positions before delivery.

Related Links:
For those who are new to futures but want a solid understanding of them, this tutorial explains what futures contracts are, how they work and why investors use them. Futures Fundamentals
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Hedging with futures can protect those who buy and sell commodities from adverse price movements. Grow Your Finances In The Grain Markets

Any physical commodity, such as gold, soybeans, or pork bellies. Trading in actuals ultimately results in delivery of the commodity to the buyer when the contract expires. This contrasts with trading in commodities of, for example, index options, where the contract is settled in cash, and no physical commodity is delivered upon expiration. However, even when trading is in actuals most futures and options contracts are closed out before the contract expires, and so these transactions do not end in delivery.