I. Prices fall at the harvest and rise after the harvest.
II. Prices are constant on average across the year regardless of seasonality.
III. Prices rise at the harvest and fall afterwards.
IV. The market is in contango when the harvest comes in.
V. The market is in backwardation when the harvest comes in.
VI. If the market goes into contango, it is most likely to do so right before a new harvest.
VII. If the market goes into backwardation, it is most likely to do so right before a new harvest.
Now choose the letter that best describes which of the above statements is true
Choose one answer.