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Today's soybean price at the local cash market level is $9.81/bushel. Using a discount rate (or risk-free rate of interest) of 2% and a storage
Today's soybean price at the local cash market level is $9.81/bushel. Using a discount rate (or risk-free rate of interest) of 2% and a storage cost per month of $0.20/bushel, estimate what the futures price of soybeans (in $/bushel) should be in 1 month. Round your answer to two decimal places.
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