Normal Backwardation vs Backwardation

can someone explain?

Backwardation: Futures price < Current spot price Normal backwardation: Futures price < Expected spot price

Spot > Forward = backwardation Expected spot > forward = normal backwardation

excellent thank you.

There was a case last year where I think both inequalities were true, and everyone got it wrong. Something like, S0 < F0 and F0 < E(S0)? Do the search and post here please.

+1 “Expected” then “normal” otherwise just contango or backwardation depending on what future price is