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A farmer calls and offers to sell to you 5,000 bushels of new crop soybeans at a cash price of $11.00. His offer is good for today only. The elevator's basis is -40 NOV. What futures order do you enter to get the farmer the price he is looking for at the basis you are bidding? Sell 5,000 bushels of NOV soybeans at $11.40 on a day order. Sell 5,000 bushels of NOV soybeans at $10.60 on a day order Buy 5,000 bushels of NOV soybeans at $11.40 on an open order. Sell 5,000 bushels of NOV soybeans at $10.60 on an open order.
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