Basis can be positive or negative.
Deferred Payment is a delayed payment on the sale of a commodity with a preestablished price. Deferred Price Contract is a contract that transfers title of the commodity from the producer to the buyer, with the price to be determined at a future date. Forward Contract is a contract for the cash sale of grain at a specified price for future delivery. Futures Market Carry Spread is when the nearby futures month is trading at a lower price than a distant futures contract. Carrying Charge is a futures market condition in which distant futures contracts are trading at successively higher levels than nearby contracts and above cash price offers.