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English definition of “contango”

contango

noun [U]     /kənˈtæŋɡəʊ/
FINANCE, STOCK MARKET a situation in which the price of a commodity (= a product such as oil or a metal that is traded in large quantities) is higher if the buyer is to receive the commodity at a future date than it is if the buyer receives it immediately: The price slump would create conditions of contango, where massive current supply puts the spot price below the futures price. Much of the commodity market is at present in contango. → Compare backwardation
(Definition of contango noun from the Cambridge Business English Dictionary © Cambridge University Press)
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