What impact would having a significantly high convenience yield have on a commodity's futures pricing? A high convenience yield will more likely make the futures prices be in backwardation because the benefit of having the physical commodity on hand will drive the spot price to be higher. A high convenience yield will more likely make the futures prices be in contango because the benefit of having the physical commodity on hand will drive the spot price to be higher. O A high convenience yield will cause the futures to price in contango because of the demand to have the commodity on hand in the future. A high convenience yield does not materially impact futures prices