Reviewing the section about cash and carry/reverse cash and carry, and there’s there conceptual area I’d like to understand. If you go long a forward at T = 0 What happens at At time T=1? Do you take delivery of the commodity at the forward price set at T=0, or do you sell the commodity with price set at the beginning? And what if you short a forward at T=0?

Since you are long you are buying the commodity at t 1. Short is selling the commodity at t 1. Just like going long or short a stock.