Diary of a Futa - ongoing futa story
Story by Thrext
I was on Elegant Succubus' blog the other day and from there was linked to a sex-positive blog written by a woman named Shay. She's done a piece explaining futanari and is also writing her own futa story in small sections. Right now there are 13. Here's a link to the first part, they all link in order from there.
http://thesspot.org/2007/04/diary-of-a-futa-part-1/
Sorry if this is a repost, it's pretty old...but I really like this story for several reasons.