ur work. Correct answers without supporting work may earn 200 points Explain your answers. Answers without explanations may camero points Question 1 It is January 10. The futures price on March wheat contract, which expires in 73 days, is $4.07 per bushel and the spot price of wheat is $3.95 per bushet The annual tik free rates Assume there is no convenience yield on wheat. The annual required return on holding what is 11% a What are storage costs over this 73-day period for bushel of wheat? What is the expected spot rate of wheat at contract expiry? What is the expected futures price at contract expley d Is the futures contract currently in normal backwardation? If both storage costs and convenience were then would the futures contract currently bein normal backwardation Assume that the free rate and the returnare under Echt View in