backwardation
noun[U]
uk/ˌbækwəˈdeɪʃn/us/-wɚd/FINANCE,STOCK MARKET
asituationin which thepriceof acommodity(= aproduct, such asoilor ametal, that istradedinlargequantities)islowerif thebuyeris toreceivethecommodityat afuturedatethan it is if thebuyerreceivesitimmediately:
Silver has been in backwardation for the past fiveweeks.
Compare
contango