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7. Calculate the corn basis in Columbia, MO. The spot price is $6.22/bu and the nearby corn futures contract (contract closest to expiry) price is

7. Calculate the corn basis in Columbia, MO. The spot price is $6.22/bu and the nearby corn futures contract (contract closest to expiry) price is 664'6 $6.6475/bu. 8. List each of the 3 dimensions of commodity price relationships and the mechanisms for arbitrage within each dimension

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