At the end of six months for a wheat farmer who sold previously a six-month wheat futures contract, he may:

a.

can sell the wheat via the spot grain market and at the same time sell a futures contract identical to the contract originally taken out.

b.

will make a profit if the price of wheat has gone up on the day the farmer closes out his contract.

c.

deliver the wheat as per the contract and pay out the original agreed-upon price.

d.

can sell the wheat via the spot grain market and at the same time buy a futures contract identical to the contract originally taken.