General Foods buys wheat on the cash market for its many cereal products. In January, the cash price is $$2\mathrm{.}50$ per bushel. The April futures contract is trading at $$3\mathrm{.}00$ per bushel $($answer all $5$ parts$).$a$.$ To hedge against price risk does the firm go long or short in the futures market for wheat?b$.$ In April the cash price is $$3\mathrm{.}00$ per bushel, while the April futures price is $$3\mathrm{.}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?e$.$ What was it$?$