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Flag Assume you are a soybean farmer. The current cash price at planting is $2.80 per bushel and the current futures price is $2.97 per

Flag Assume you are a soybean farmer. The current cash price at planting is $2.80 per bushel and the current futures price is $2.97 per bushel. What is the current cash basis? In your answer define what basis is and how it is used.

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