Backwardation

Formally, it is the situation where, and the amount by which, the price of a commodity for future delivery is lower than the spot price; or a distant future delivery price lower than a nearer future delivery.

Literatur:

Bloss, Michael; Ernst, Dietmar; Häcker, Joachim: Derivatives, 283 Seiten, 2008
[Dieser Titel bei Oldenbourg]