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Suppose that the managers of Vegan Exports, Inc. end up hedging the sale of 50,000 bushel of soybeans using the approach discussed in the problem

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Suppose that the managers of Vegan Exports, Inc. end up hedging the sale of 50,000 bushel of soybeans using the approach discussed in the problem above (1-to-1 hedge). The spot soybean price at the time the hedge is established is 1553 cents per bushel. The November soybean futures contract price at that point in time is 1484 cents per bushel. The soybeans are sold and the futures hedge position closed out on September 20 when the spot price is 1518 cents per bushel and the November futures contract is 1485 cents per bushel. What is the exporter's net hedged revenue per bushel? Enter your answer in dollars and cents. Be sure to adjust for the fact that the soybean prices are state in cents per bushel

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