NO.PZ2023041004000097
问题如下：
Brown shares selected futures contract data for three markets in which the Apex Fund invests. The futures data are presented in Exhibit 2.
Menlo Bank recently released a report on the coffee market. Brown shares the key conclusion from the report with Musicale: “The coffee market had a global harvest that was greater than expected. Despite the large harvest, coffee futures trading activity is balanced between producers and consumers. This balanced condition is not expected to change over the next year.”
Based on the key conclusion from the Menlo Bank coffee market report, the shape of the coffee futures curve in Exhibit 2 is most consistent with the:
选项：
A.insurance theory.
B.theory of storage.
C.hedging pressure hypothesis.
解释：
The theory of storage focuses on the level of commodity inventories and the state of supply and demand. A commodity that is regularly stored should have a higher price in the future (contango) to account for those storage costs. Because coffee is a commodity that requires storage, its higher future price is consistent with the theory of storage.能用各一句话说一下这三个选项分别是什么意思吗，说的越简单越好，题能做对就行（不是只局限于这道题），不要大段说一些听不懂的晦涩的话，就说核心特点怎么区分，什么情况选A，什么情况选B，什么情况选C。
