Glossary

Backwardation
Basis	The difference between the forward/future price and the spot price is called the basis. Trading the basis is a critical concept in the commodities market. The only way to avoid basis risk is to hold the futures position until delivery.
Basis Point	One hundredth of a percent (0.01%)
Consumption Asset
Contango
Convenience Yield
Futures Schedule
Investment Asset
Roll Period
Rollover