# An asset with a known price in the future does not today trade at its future price discounted at the risk-free interest rate ( or, the asset does not have negligible costs of storage ; as such, for example, this condition holds for grain but not for securities ).

# An asset with a known price in the future does not today trade at its future price discounted at the risk-free interest rate ( or, the asset does not have negligible costs of storage ; as such, for example, this condition holds for grain but not for securities ).

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