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Business, 02.12.2020 16:30 neariah24

ADM purchases 55,000 bushels of soybeans in July. In January, when the spot price of soybeans was $10.53/bushel, ADM hedged the entire planned purchase with September futures contracts at 1030. ADM lifts the hedge in July. The spot price of soybeans is now $10.50/bushel and the basis on September futures is now $-0.06. What is ADM's effective price per bushel for the transaction (rounded positive $ two places after the decimal)

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ADM purchases 55,000 bushels of soybeans in July. In January, when the spot price of soybeans was $1...
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