As a major supplier for premium store brand cornbread, you are concerned that corn prices may move beyond their current level of $7/ bushel when the crop is ready, eight months from today. Therefore, you enter into the appropriate futures contract at the current spot price (hint, are you buying or selling corn?). What is the position you take and your profit or loss, if eight months later, corn is selling at the spot market for $8.50/ bushel? long, $7 short, $7 long, \$7 long, \$1.50 short, \$-1.50