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Your farm expects to produce 1000 tons of organic potatoes next summer. You would like to hedge the risk of uncertain wholesale prices on organic

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Your farm expects to produce 1000 tons of organic potatoes next summer. You would like to hedge the risk of uncertain wholesale prices on organic potatoes next summer, but, unfortunately, futures contracts are available only on regular (not organic) potatoes. The expected price of organic potatoes is $400/ton with a standard deviation of $57; the expected futures price of regular potatoes is $270/ton with a standard deviation of $30. If the farmer optimally decided to hedge his risk by buying selling contracts on 1300 tons of regular potatoes, what is the correlation between the price of organic potatoes and the forward price of regular potatoes? Round your answer to 3 decimal digits. E.g., if you found the correlation to be 0.48554, write 0.486; if you found it to be 0.86457, write 0.865

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