Bullish Commodities? Not So Fast | Lukas Kuemmerle
Forward Guidance
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The Importance of Backwardation in Commodity Markets
In commodities, maximum fear can mean everyone's bullish because they think the world's going to end and there's no going to be no oil. If something like this appears in the forward curve, it's called a backwardation. A backwardation is basically if the futures contract that you have right now is the highest in price value but the next one is cheaper than the current run.
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