PROBLEM 6. On February 15, 2022, the spot price of soybeans was $9.780o/bu. On the same day, the following closing prices were recorded for the futures contracts on CME: Contract Month Settlement Price Mar-22 $10.1500 May-22 $8.7550 Jul-22 $9.0550 Aug-22 $9.9950 Sep-22 $9.9425 Nov-22 $9.0075 Mar-23 $10.1175 May-23 $9.1350 Jul-23 $10.2800 Aug-23 $9.9850 Sep-23 $9.4975 Nov-23 $8.9775 Mar-24 $10.2950 May-24 $8.8850 Jul- 24 $9.0500 For each contract month, determine whether the contract is in contango or in backwardation