Death comes to us all. Life's but a walking shadow | It's clear that you need the consul of an independent grain trader and a Philidelphia lawyer to figure out deferred contracts.
But this aside, this idea of the "carry coming out" is frequently mentioned. It seems to be implied that when that happens the price of the deferred futures necessarily declines. Is this always the case? Why can't the price of the nearby futures rise as it approaches maturity? While we are told that the price of the nearby and deferred converge toward the expiration of the nearby aren't there examples where there is gap?
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How much Corn & beans are commited to deferred price contracts?
