Suppose you$$re a snack food manufacturer wanting toestablish a purchase price for soybean oil you will needby late February. Currently, Mar Soybean Oil futuresare trading at $55$ cents per pound and the local basisfor February delivery is $5$ cents over Mar Soybean Oilfutures. From your basis records, the basis is typically$2$ cents over Mar Soybean Oil futures for Februarydelivery. Under this situation, it would make $$sense$$ to: