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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

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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 of the following terms most accurately describes its forward curve over the next two years? Contango Backwardation Contango and backwardation None of the above

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