Net Price Question 29 (4 points) Its January 13 and an elevator is looking to purchase 10,000 bushels of wheat in May. On January 13, the elevator enters May futures at a price of $6.33/bu. The expected basis for May was -$0.30/bu. On May 2 the actual cash price was $6.00/bu and the futures price was $6.25/bu. What is the net price paid by the elevator? Type in $ format like $6.00 N Question 30 (2 points) 4 Jacob enters into the futures market to protect the prices of his feeder cattle. He enters the futures market at $150.00. Ignoring basis, whether the futures price rises to $300 or falls to $20, Jacob will get a net price of $150. True False