5. When July 1" rolls around, you offset your futures position. The July futures contract price is now $6.55/bu. Also, on July 14, you sell the wheat that you have harvested on the cash market price. The basis differential in the local cash market is 15 cents under the board. Assume there is no broker fee. 1. What is your total profit/loss in the futures market? (4 pts.) I Spes Chea MacBook Air $ 4. % 5 & 7. 6 8 0 R T Y U