1) You are a corn farmer in Lancaster County, Nebraska farming 200 acres with an expected harvest of 175 bushels/acre. On April 10, 2017, December corn futures are priced at 3.9100 and your expected basis is-$0.47. When you sell your grain on November 10, 2017, December corn futures are trading at .4350 and realized basis is-0.54. Calculate your total revenue if you hedged using the following cash contracts and assuming you hedged your entire expected production and your realized yield was identical to your expected production. a) Basis contract b) Forward contract c) Hedge-to-arrive contract 2) Use the same data as Question #1, but this time you hedge your entire expected production with futures contracts. a) Calculate your total revenue if your expected and realized harvest were identical. b) Now assume your production was lower than expected at 155 bushels/acre. Calculate your total revenue 1) You are a corn farmer in Lancaster County, Nebraska farming 200 acres with an expected harvest of 175 bushels/acre. On April 10, 2017, December corn futures are priced at 3.9100 and your expected basis is-$0.47. When you sell your grain on November 10, 2017, December corn futures are trading at .4350 and realized basis is-0.54. Calculate your total revenue if you hedged using the following cash contracts and assuming you hedged your entire expected production and your realized yield was identical to your expected production. a) Basis contract b) Forward contract c) Hedge-to-arrive contract 2) Use the same data as Question #1, but this time you hedge your entire expected production with futures contracts. a) Calculate your total revenue if your expected and realized harvest were identical. b) Now assume your production was lower than expected at 155 bushels/acre. Calculate your total revenue