随着交割期限的来临,影响期货合约价格的各种因素会逐渐明朗和固定下来,市场人士会逐渐接受现实,挣钱或赔钱的一方慢慢地退出市场,投向新的战场,这时的期货合约就为近期合约。
偏紧的美国旧作供应量可能使得近期合约期价上涨，需求可能会减慢或者转而对新作大豆有所需求。
Tightening US old crop supply could rally nearby futures If demand needs to be slowed or rolled into new crop.
然而未来铝价呈现顺价结构将会成为一种更为普遍的现象，这意味着近期合约价格要比远期合约价格更低，而铝价倒挂的情况刚刚相反。
While a contango, the more common scenario with futures, implies that nearby contracts are cheaper than forward ones, backwardation refers to the opposite scenario, in which nearby prices are higher.
绝大多数观点期望近期合约期价上涨来对应目前的需求，甚至更有看多的观点认为玉米期价要满足玉米要和大豆，小麦棉花来竞争种植面积需要。
Most are expecting higher prices to ration near-term demand and are even more bullish to the deferred contracts as corn fights for acres with soybeans, wheat, and cotton.
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