Part 2....Assumptions on Nov-29 a. Harvest is completed on time and corn is in storage by Nov-1 b. The cash price for immediate delivery is $2.35fbu c. Dec corn futures are at $3.05be d. He hedged and decides to offset his hedge. Determine.... a. The nearby basis b. His actions in the cash and futures markets c. Whether he gained or lost on the Dec corn futures position d. The basis gain or loss on the transaction e. The outcome of his hedge (cash, futures. storage) f. How price per bushel compares with his marketing price objective