Question $10$: Question $11$: Please note this question is worth $3$ points.

GRAIN HEDGE POSITION REPORT

CROP: CORN

DATE: December $15$

LONG POSITION

SHORT POSITION

The Grain Hedge Position Report above appears to be in balance but the futures are not hedging basis positions in the appropriate crop year. What futures transaction$($s$)$ do you execute to fix this?

Buy $25,000$ MAY and Sell $25,000$ MAR

Buy $25,000$ MAR and Sell $25,000$ DEC $(2)$

Buy $30,000$ MAR and Sell $30,000$ DEC $(2)$

Buy $30,000$ DEC $(2)$ and Sell $25,000$ MAR

GRAIN HEDGE POSITION REPORT

CROP: WHEAT

DATE: August $15$

LONG POSITION

SHORT POSITION

Unpriced Grain

Net Company Owned Stocks $,284000$

Unreceived Grain Bought & Priced

Long Futures

TOTAL LONG

Undelivered Grain Sold & Priced

Short Futures

TOTAL SHORT

TOTAL SHORT

$445000$

$\frac{+,4000}{\text{N}\text{E}\text{T}\text{P}\text{O}\text{S}\text{I}\text{T}\text{I}\text{O}\text{N}}$

Sell $5,000$ DEC

Sell $5,000$ SEP and Buy $10,000$ JUL $(2)$

Sell $10,000$ SEP and Sell $5,000$ JUL $(2)$

Sell $10,000$ SEP and Buy $5,000$ JUL $(2)$