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Since the clitoris is just and undeveloped cock, it could be safe to asume that a futa without balls could have her cock and urethra connected to her vagina and uterus somehow, this could lead to think that her ovaries can produce both ovules and sperms. The ejaculation liquid is also produced in the balls and it's added to the cum by blocking the urethra, so it's safe to assume it's also produced in there.
We could also assume that it's possible for the ovaries of a futanari to release ovules through the penis and this could lead to situations where, if the recipient is a female, she could get "pregnant" but with the ovules and sperm of the futanari instead of her own.