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17. If a futures contract is priced at $305.36 per ton for soymeal and the spot price is $301.76, what is the basis? 18. A

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17. If a futures contract is priced at $305.36 per ton for soymeal and the spot price is $301.76, what is the basis? 18. A cereal manufacturer wants to maintain costs on future deliveries of 107,500 bushels of wheat hushal They notice that the hedge ratio is very close to 1, so they enter into

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