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A farmer is preparing to plant corn and expects to deliver his crop to the market in 1 year. The yield on US t-bills is

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A farmer is preparing to plant corn and expects to deliver his crop to the market in 1 year. The yield on US t-bills is 6.4% and it costs 0.5% to store corn for 1 year. If the spot price of corn is $3.66/bushel today, what price can the farmer expect to lock in with a 1 year futures contract? (Hint: Be sure to use continuous compounding.)

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