Basis Exercise

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Basis Exercise Complete the exercise by filling in all of the yellow boxes. Refer to "basis example" for Illustrations on how to complete the worksheet. Basis - The difference between your local sale price and the futures Price in month of sale. (Use Historical Averages for best results). Io Preject Expected Hedge Price:-Determine Market Month to hedge and dollar amount cash price is normally above (+)/below(-) futures. Example I: Actual basis "same as estimate Example II: Actual basis widens Sach.Pike Eutures Price faclil Estimated Bals Boected Hedee Price =5 13.75+$ (0.50) Uft Hedge at Phyical Sole Cash Price Eutums Price (buyd Actual Bais Chanes: - 5 15,75+5 (0.75) Cachedce Galn/less futures Actual Hedee Price Examp/e III: Actual basis narrows Coshpice futures pics (ielli) Etimated lasis Loested Heder Pice =5 13.75+5 (0.50) Uft hedge at Phyical sole Cahporce futures pitce buxd =5 11.25+5 Actual Basis Chanesa (0.25) Cahpilce Ginfless futums Actud hisdes Polse