Question: Question 36 (3 points) Esther is a soft winter wheat farmer in Washington state. She's deciding between a typical hedge and selling at harvest August

Question 36 (3 points) Esther is a soft winter wheat farmer in Washington state. She's deciding between a typical hedge and selling at harvest August 1 2023 (July is the nearest futures month) OR storing until Mar 1 2024 and hedging the storage. Expected basis in August is -0.10 while expected basis in March is +$0.05. Using the table of futures quotes below, find her expected net price if she does NOT store (and type in $ format, like $10.00) Jul 2023 Sept 2023 Dec 2023 Mar 2024 May 2024 $6.80 $6.82 $6.89 $7.00 $7.02 4

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