Backwardation refers to a situation where the price of a commodity for immediate delivery is higher than the price for future delivery. Some synonyms for the word include:
1. Inverted market
2. Negative carry
3. Shortage market
4. Backward pricing
5. Backward trend
6. Reverse contango
7. Supply scarcity
8. Contango flip
9. Depleting inventory
10. Backward shift. These terms are often used in financial markets to describe a condition where the demand for a commodity outstrips available supply, leading to higher prices in the short term. Such conditions are often seen in energy and agricultural markets.