The term Long$-$the$-$Basis refers to:

Option A

A type of merchandising position in which you buy cash grain and immediately resell it$.$

Option B

A type of merchandising position in which you have ownership of cash grain, are hedged with long futures and waiting for a sale to be made at a higher basis later.

Option C

A type of merchandising position in which you have sold cash grain, are hedged with long futures and waiting for the basis to move lower.

Option D

A type of merchandising position in which you have ownership of cash grain, are hedged with short futures and waiting for a sale to be made at a higher basis later.