Worthless Word for the Day

[teapeebubbles]

the worthless word for the day is: contango

[perhaps an alteration of continue] /cuhn TANG go/
Commerce charge paid by purchaser for postponing
payment from one settling day to next
compare backwardation : postponement by seller of
delivery of stock; premium paid to buyer for such
postponement

"Heating fuels would be expected to be priced in a
backwardation structure during the winter and in a
contango structure during the fall."
- John Elting Treat, Energy Futures