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English definition of “backwardation”

backwardation

noun [U]     /ˌbækwəˈdeɪʃn/ US   /-wɚd/
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 lower if the buyer is to receive the commodity at a future date than it is if the buyer receives it immediately: Silver has been in backwardation for the past five weeks. → Compare contango
(Definition of backwardation noun from the Cambridge Business English Dictionary © Cambridge University Press)
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