Spot, futures, contango and backwardation
How commodity prices differ between today's price and future contracts, and why funds that hold futures can lose value when spot is flat.
Commodities
Commodities are raw materials. Most exposure comes through futures or funds that hold them, which adds roll costs and contract mechanics to the price you see.
Live chart
What to learn
- Spot and futures
- Contango and backwardation
- Roll yield
- Seasonality in energy and crops
Tools for commodities
Position size calculator
Turn an account size, risk percentage and stop into a share or unit count.
Risk/reward and break-even
See your reward multiple and the win rate you need to break even.
Guides
Education only. All Markets Desk publishes education and general information, not investment, tax or legal advice. Trading involves risk of loss, including loss of everything you put in. Read the disclaimer and risk disclosure.