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In the futures market for corn, if the price of the July 2021 contract is above the price of December 2021 contract, then the corn

In the futures market for corn, if the price of the July 2021 contract is above the price of December 2021 contract, then the corn market is said be:

In Backwardation

In Contango

Converging

Volatile

The reason for having daily price limits for some futures contracts such as lean hogs is to serve as a type of circuit breaker when trading becomes volatile. (T/F)

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