Let's consider the scenario as of March 31, 2023, where a Philadelphia-based farmer anticipates having 120,000 pounds of commodity A to sell in three months. This farmer is naturally exposed to potential fluctuations in the price of commodity A. Specifically, if the price of commodity A were to decrease during the next three months, the farmer could be compelled to sell at a lower price. To mitigate this risk, the farmer may explore the use of the derivatives market. One option available to the farmer is to utilize the futures market. In this market, there are commodity A futures contracts offered on the Chicago Mercantile Exchange for delivery in May Futures ($8 per pound), June Futures ($10 per pound), July Futures ($12 per pound), and August Futures ($14 per pound), each contract comprising 40,000 pounds and containing 5 bags. i) Determine the most suitable futures contract for the farmer (2 marks) ii) Devise a cash flow generation plan from this selected futures contract (assuming no production risk) (2 marks) iii) As the delivery date approaches, the local government has announced an increase in fuel prices, and a competitor in South America has recently revamped their production technology through a new partnership with China, resulting in improved quality and higher output of commodity A. Provide a concise rationale for assessing the impact of this announcement on the farmer or the potential opportunities it presents (6 marks)