George Q Farmer expects to harvest 60,000 bushels of soybeans in October. In April, when the spot price of soybeans was $13.69 /bushel, George hedged 100% of his expected harvest with November futures at 1397. Soybean contracts are defined as 5000 bushels/c and trade in cents/bushel. In October George Q's harvest comes in at 60,000 bushels. The spot price of Soybeans is now $15.47 /bushel and the basis is now -0.0700

George's profit (loss) on his futures position is $ _________

Georges revenue (expenditure) on the spot market is $ _____________

George's net revenue (expenditure) is $ _______________

Georges effective price per bushel is $ ________________