Assume that it is June, and a framer expects to harvest at least 10,000 bushels of soybeans during September. In June, the cash price for new-crop soybeans is $6 per bushel and the price of November soybean futures is $6.25 per bushel. Each futures contract is for the delivery of 10,000 bushels of soybeans.

1. Help the farmer to design the hedging strategy to protect himself against the possibility of falling prices in September.
2. By the beginning of September, cash and future prices of soybeans have fallen. The cash price of soybeans is now $5.72 per bushel, and the futures price of November soybean futures is $5.95 per bushel. The farmer sells his soybeans and closes the hedge. What is the net selling price per bushel that the farmer receives in September?