The owner of 200,000 bushels of corn wishes to hedge his position for a sale in 240 days. The current price of corn is $5.60/bushel, and the contract size is 5,000 bushels. The interest rate is 2.5%, compounded daily. The storage cost for the corn is $35/day. Assume the cost of storage as a percentage of the contract per year is 1.14%. Compute the price for the appropriate futures contract used to hedge the position