Arbitrage trading forces market price to converge to the intrinsic value of a security. Therefore arbitrage argument is one of the major approaches to justify theoretical derivatives prices. Can you provide a complete arbitrage strategy for the following situation? Make sure to show that the arbitrager:

1) enters the market without asset or cash; and 2) leaves the market with no obligation and positive cash.

Situation: The spot price for corn today is 100/bushel. Interest rate is 3.5%. The market ONE-YEAR futures price now is 102/bushel. Detect the arbitrage opportunity and describe the arbitrage step by step.