Complete an Average Spread Worksheet using the following information:

Round your answers to the nearest $\frac{1}{4}$ cent.

You will need three sections to your worksheet; NOV$/$JAN$,$

JAN$/$MCH$,$ MCH$/$MAY

January $15$: pre$-$spread $15,000$ bushels NOV$/$MAY $$0\mathrm{.}15(0\mathrm{.}07,0\mathrm{.}05,$

$0\mathrm{.}03$

February $15$: pre$-$spread $25,000$ bushels NOV$/$MAY $$0\mathrm{.}19(0\mathrm{.}09,$

$0\mathrm{.}06,0\mathrm{.}04$

March $15$: pre$-$spread $50,000$ bushels NOV$/$MAY $,$

$0\mathrm{.}04$

May $15$: hedge direct $10,000$ bushels NOV$/$JAN $$0\mathrm{.}05$

June $15$: rolled futures $15,000$ bushels NOV$/$MCH $$0\mathrm{.}12(0\mathrm{.}08,0\mathrm{.}04)$

What is your Average MCH$/$MAY Spread on March $15?$

$$0\mathrm{.}0375$

$$0\mathrm{.}03625$

$$0\mathrm{.}0385$