Which of the following is the least-valid reason for someone wanting to trade corn futures on the Chicago Board of Trade?

Multiple Choice

• Kellogg's wants to hedge part of their future need for corn.

• An investor doesn't have the assets/money to buy call options on corn.

• A midwest farmer wants to lock in a profit on part of his expected corn harvest.

• An investor feels that there is minimal counter-party risk.

• A speculator believes that the growing season weather will be much different than the market expects.