Quiz tion 13 Complete 1 ked out of Phillipe Mitterand is a commodities trader based in Chicago. He is reviewing the price structures of two liquid physical commodities, X and Y. He observes that long-term futures contracts on commodity Xcost less than short-term contracts on commodity X. He also observes that the market for commodity Y is in contango and commodity Y is in normal backwardation. The futures price of commodity Yis: 10 Flag stion 19 Select one: Finish Time le a. greater than its spot price and less than its expected future spot price O b. Y is less than its spot price and more than its expected future spot price O c. less than its spot price and less than its expected future spot price O d. greater than its spot price and greater than its expected future spot price Check Previous page Next page E