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Kellogg's uses of large quantities of corn in its breakfast cereal operations. Suppose the near-term weather forecast for the corn producing states is droughtlike conditions,

Kellogg's uses of large quantities of corn in its breakfast cereal operations. Suppose the near-term weather forecast for the corn producing states is droughtlike conditions, so corn prices are expected to rise. To hedge its cost, Kellog's decides to use the Chicago Board of Trade corn futures contracts. Should the company be a short hedger or long hedger in corn futures? Why

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