Please help me calculate this!

A Farmer Production I: Assume you are a farmer who just planted wheat in your fields. You anticipate that you will be able to harvest and sell 30,000 bushels of wheat next July given normal yields. You really need to protect your returns this year given the poor returns you had last year because you only sold your wheat in the cash market. This year you decide to use futures to reduce your exposure to price risk. You look at the CBOT futures board and you decide to purchase enough futures contracts to cover 50% of your crop. Your purchase price for the ILY22 contract is the open for the day. Based on this information, answer the following questions below. Wheat Market: November 9, 2021 Contract Size : 5.000 bushels Price Unit: Cents and quarter-cents/bu MONTH LAST OPEN HIGH LOW 7892 7692 7774 7644 Dec-21 ZWZ1 Mar 22 zwa May 22 ZW2 7812 7820 7894 7764 7855 7854 7934 7808 7754 7750 7820 7712 Sep-22 ZWU2 7750 TITZ 7814 7724 4 Yoarction in the market for the ILY21 contract was at the open what was the fue prior Put down both the quote in cents and dollars. 2 pts) 5. When July 1" rolls around, you offset your futures position. The July futures contract price is now $6.95.b. Also, on July 1you sell the wheat that you have harvested on the cash market price. The basis differential in the local cash market is 10 cents under the board Assume there is so broker fee What is your per bushel profit or loss in the futures marker? (4 pts) b. What is your total profitloss in the futures market? (4 pts.) Accounting for profit loss in the futures market, what is the effective price per busel, also called the net price per bushel, you receive for your wheat? Hint: you will have to adjust the futures price by the local basis to determine the local cash price you received for your wheat. Show the math. (8 pts) A Farmer Production I: Assume you are a farmer who just planted wheat in your fields. You anticipate that you will be able to harvest and sell 30,000 bushels of wheat next July given normal yields. You really need to protect your returns this year given the poor returns you had last year because you only sold your wheat in the cash market. This year you decide to use futures to reduce your exposure to price risk. You look at the CBOT futures board and you decide to purchase enough futures contracts to cover 50% of your crop. Your purchase price for the ILY22 contract is the open for the day. Based on this information, answer the following questions below. Wheat Market: November 9, 2021 Contract Size : 5.000 bushels Price Unit: Cents and quarter-cents/bu MONTH LAST OPEN HIGH LOW 7892 7692 7774 7644 Dec-21 ZWZ1 Mar 22 zwa May 22 ZW2 7812 7820 7894 7764 7855 7854 7934 7808 7754 7750 7820 7712 Sep-22 ZWU2 7750 TITZ 7814 7724 4 Yoarction in the market for the ILY21 contract was at the open what was the fue prior Put down both the quote in cents and dollars. 2 pts) 5. When July 1" rolls around, you offset your futures position. The July futures contract price is now $6.95.b. Also, on July 1you sell the wheat that you have harvested on the cash market price. The basis differential in the local cash market is 10 cents under the board Assume there is so broker fee What is your per bushel profit or loss in the futures marker? (4 pts) b. What is your total profitloss in the futures market? (4 pts.) Accounting for profit loss in the futures market, what is the effective price per busel, also called the net price per bushel, you receive for your wheat? Hint: you will have to adjust the futures price by the local basis to determine the local cash price you received for your wheat. Show the math. (8 pts)