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Backwardation

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Backwardation
A market condition in which futures prices are lower in the distant delivery months than in the nearest delivery month. This may occur when the costs of storing the product until eventual delivery are effectively subtracted from the price today. The opposite of contango.

backwardation

Backwardation. If the price of a futures contract that expires in the near term is higher than the price of a contract with the same terms that expires at a later date, the relationship between the two is called backwardation.

More typically, the contract with the longer-term expiration commands a higher price. That relationship is called contango.



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The movement of passive investors into commodities shifted markets from backwardation to contango, the condition that occurs when futures prices exceed cash prices.
Rifkin of OmniSource said the copper market's pricing and backwardation shows "the market is screaming for that material to come to the market today.
says the copper market's pricing and backwardation shows "the market is screaming for that material to come to the market today.
 
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