General Foods buys wheat on the cash market for its many cereal products. In January, the cash price is $2.50 per bushel. The April futures contract is trading at $3.00 per bualhel. a. To bedge against price risk does the firm go long or short in the futures market for wheat? b. In April the cash price is $3,00 per bushel, while the April futures price is $3,50 as well. Did General Foods' have a loss or gain per bushel in the cash market? c. What was it? d Did General Foods' have a loss or gain per bushel in the futures market? c. What was it? (4 Points each for all 5 parts 20 points total)