Show Instructio 1.5 pts D Question 1 Considering the market for soybean oil (a storable commodity), if the cash price at Decatur, IL is less than a given futures price, this represents a positive carry market situation for soybean oil. True False 1.5 pts Question 2 The soybean basis in Davenport, lowa is - 0.34. This means that futures prices are less than cash prices. True False 1.5 pts 1.5 pts Question 3 If the cash price for live cattle in Amarillo, TX is $1.01, and the Feb 2022 futures is $1.12, then the basis is - $0.11. True False 1.5 nts 1.5 pts D Question 4 The live cattle basis in Dalhart, TX is -$0.08, and the Dec 2020 live cattle futures contract closed at $1.19. Therefore, the cash price in Dalhart, TX is $1.11. O True False 1.5 pts Question 5 The lean hog basis in Southern Minnesota is currently +$0.75. This suggests that the cash price for lean hogs is greater than the futures price, thus reflecting an inverted or negative carry market for lean hogs in Southern Minnesota True O False 1.5 pts Question 6 Corn, soybeans, soybean oil, and cotton are considered non-storable commodities. O True False 1.5 pts D Question 7 Lean hogs, live cattle, feeder cattle, and class III milk are non-storable commodities. O True False 1.5 pts Question 8 Consider the following scenario for wheat futures. On November 18th, 2011 the spread between the Dec 2011 and Jul 2012 was -$0.05 per bu. (Jul greater than Dec). Today (Nov 18th, 2021) the spread between the Dec 2021 and Jul 2022 is -$0.115 per bu (Jul greater than Dec). Therefore, the market is providing a larger incentive to store wheat today than back in 2011. True 1.5 pts Question 9 The time or temporal component of the basis for storable commodities reflects quality differentials that may exist between different cash market locations. True O False 1.5 pts Question 10 At time of futures contract delivery, cash and futures should theoretically equal zero. Any differences from zero would reflect spatial and quality components of the basis for a particular market location True False