Commodity Spread analysis

#1
What are the factors on which the spread depends upon
How is the value of a commodity spread decided and what are th elements invoved in the value of a commodity spread
 
#3
which markets are you talking about ?

there isnt any formula for it. you have to take a 3-6 months view on fundamentals. i mean the various factors which can get in and impact the prices. may be seasonality of spreads could work.
 

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