You raise chickens. You need corn for winter feedings. You need $65,000$ bushels of corn. The December cash price for corn is $$8\mathrm{.}20$ at your local elevator, and there is a January $24$ future is $$1060.$ You buy $65,000$ bushels of futures on December $7.$ On January $1,$ the February $24$ futures rises to $$940.$ You sell your futures. In February, you pay a cash price for $65,000$ bushels of corn for $$10\mathrm{.}40$ per bushel.

$1.$ You buy on the futures market at what price?

$2.$ You sell on the futures market at what price?

$3.$What is your profit per bushel on the hedge? $($Sell Price $$ Buy Price$)$

$4.$Price of a bushel of corn when you purchased it $\_\_\_\_\_\_\_\_\_\_\_\_?\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$5.$Profit from hedging $\_\_\_\_\_\_\_\_\_?\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$7.$What does the hedge bring the price of bushel of corn to$?$ How much money did hedging your corn save or cost you?