By 1850, the single largest U. S. commodity export (in terms of value) was:

If the current cash price is $8.80/bushel, storage costs are $0.15/bushel, August futures are currently trading at$9.20/bushel, and you expect the basis in July to be $0.20/bushel under August, then your expected profits from storing until July would be:

A. $0.05/bushel B. $-0.35/bushel C. $0.35/bushel D. $-0.05/bushel

For net present value calculations, the rate of return that one could earn by investing in another project with similar risk is known as the:

A) real interest rate. B) nominal interest rate. C) prime interest rate. D) opportunity cost of capital.