this time but you do have beans in inventory that you have title to under the terms of a price later agreement. You ship these beans from inventory to fill the sale you have made to the processor. The producers who you have the price later contract with may set the price at anytime between now and next harvest at your current spot price. Having made and delivered this sale without having the bushels priced by the farmer, which of these circumstances would give you the most profitable outcome? You pre-spread from JAN/MAR at a 15 carry. Farmers price in January at a time when your buy basis is +15 MAR. You gain 4 in benefits from having the money. You spread on roll day from JAN/MAR at a 10 inversion. Farmers price in February at a time when your buy basis is - 10 MAR. You gain 8 in benefits from having the money. O You pre-spread from JAN/MAY at a 5 inversion. Farmers price in March at a time when your basis is - 10 MAY. You gain 12 in benefits from having the money. O You spread on roll day from JAN/JUL at a 30 carry. Farmers price in May at a time when your basis is -20 JUL. You gain 16 in benefits from having the money. this time but you do have beans in inventory that you have title to under the terms of a price later agreement. You ship these beans from inventory to fill the sale you have made to the processor. The producers who you have the price later contract with may set the price at anytime between now and next harvest at your current spot price. Having made and delivered this sale without having the bushels priced by the farmer, which of these circumstances would give you the most profitable outcome? You pre-spread from JAN/MAR at a 15 carry. Farmers price in January at a time when your buy basis is +15 MAR. You gain 4 in benefits from having the money. You spread on roll day from JAN/MAR at a 10 inversion. Farmers price in February at a time when your buy basis is - 10 MAR. You gain 8 in benefits from having the money. O You pre-spread from JAN/MAY at a 5 inversion. Farmers price in March at a time when your basis is - 10 MAY. You gain 12 in benefits from having the money. O You spread on roll day from JAN/JUL at a 30 carry. Farmers price in May at a time when your basis is -20 JUL. You gain 16 in benefits from having the money