Is “Contango” a Scrabble word?

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Yes
CONTANGO
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Invalid
Large English Dictionary
General English word list
Unavailable

Meaning of Contango

noun
  1. 1.The situation in a futures market where prices for future delivery are higher than prices for immediate (or nearer) delivery.

  2. 2.The amount by which prices for future delivery are higher than prices for near delivery.

  3. 3.(London Stock Exchange) Fee paid by a buyer to the seller on settlement day when the buyer wishes to defer settlement until the next settlement day.

Synonyms: forwardation

verb
  1. 1.(London Stock Exchange) To charge (a buyer) a fee to defer settlement until the next settlement day.