A forward curve is a specialized chart used to visualize the future expectation of the price for a commodity. The plot is a calculation showing the current price against the contract's expiration date. The forward curve will plot each each expiration for the commodity and its' corresponding last price.
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To insert a Forward curve Curve chart, click on the dropdown menu located below the ‘Chart’ icon and select ‘Forward Curves'
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Once selected, you will see a dialogue where you can search for one or multiple futures contracts. Key in a futures root, name of a contract or a keyword to populate a list of suggestions.
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Select one or multiple contracts from the list by double clicking on the instrumen instrument or drag and dropping them into the insert pane of the dialogue.
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Once the symbol(s) have been selected, you can now opt to view the curve as of the current date, view the curve on a prior date or compare the current curve to previous dates. Use the dropdown menu labeled ‘Exact Date’ to select predetermined dates like 1-day, 1-week, 1-month and 1-year.
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Click the ‘Apply’ button to insert any or all of these ‘lookback’ dates and then insert the Forward Curves(s) into your workbook.
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This type of market can present itself during periods of geopolitical uncertainty when owning a commodity now, as opposed to later, is in favor. Supply chain concerns and warehouse storage depletion can also cause such a curve. As tensions diminish, interest rates change and supplies replenish, curves can reverse course as market participants reevaluate their expected outlook on the relationship between spot prices versus and deferred monthsdelivery periods.