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Wheat futures prices are as follows: Spot Price: $540, 1-month futures: $560, 3-month futures: $590, 6-month futures: $625, 12-month futures $615, 24-month futures $605 Which

Wheat futures prices are as follows:

Spot Price: $540, 1-month futures: $560, 3-month futures: $590, 6-month futures: $625, 12-month futures $615, 24-month futures $605

Which of the following terms most accurately describes its forward curve over the next two years?

Group of answer choices

Contango

Backwardation

Contango and backwardation

None of the above

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