Question: 3. A com farmer argues: I do not use futures contracts or options for hedging. My real risk is not the price of corn it

3. A com farmer argues: "I do not use futures contracts or options for hedging. My real risk is not the price of corn it is that my whole crop gets wiped out by the weather." Discuss this viewpoint. Should the farmer estimate his or her expected production of corn and hedge to try to lock in a price for expected production? Why or why not? What might be the optimal strategy here

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