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Given that the Basis is defined as Spot Price minus (-) Futures Price, the market is in Contango when the Basis is negative. Please explain

Given that the Basis is defined as Spot Price minus (-) Futures Price, the market is in Contango when the Basis is negative. Please explain your answer with example(s). Hint: review Class #3 presentation "Futures and Forwards (Part II), section 2, p. 6. Question 1 - Part (B) True or False? Hedgers (who short futures) and Speculators (who have a short hedge) share the same prediction that the underlying asset price will decrease in the future. 99 Please explain your answer with example(s)

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