1. Indicate whether you agree or disagree (or partially agree/disagree) with the statement below and explain why. "When we use puts to sell commodities, we are creating a minimum selling price for the commodity that we are selling. This is the same as using a minimum price contract directly with a buyer in our local cash market. Therefore, when we are selling commodities, there is no difference between buying puts in a futures and options exchange (like the CME Group) or entering a minimum price contract with a buyer in our local cash market."