You need to buy 360,000 pounds of orange juice concentrate in three months. One orange juice concentrate futures contract is for delivery of 15,000 pounds of orange juice concentrate. To offset the risk of higher prices in the future you need to establish a futures position to hedge your risk. What type of futures position should you take? How many contracts do you need? short position; 24 contracts short position; 240 contracts long position: 240 contracts long position; 24 contracts