Test Your Grain Market Knowledge

“Back to School with Ed Usset” is a new feature of Corn & Soybean Digest, in cooperation with Ed Usset and the Center for Farm Financial Management. Ed’s challenging and authentic quiz questions are designed to test your grain marketing knowledge, and will help you learn while having fun! Ed Usset is the author of “Grain Marketing is Simple, It’s Just Not Easy,” and is a grain marketing specialist at the University of Minnesota.

This Week's Featured Question

Back to School #41: Time Value

Let’s assume that December corn futures are trading at $3.70 per bushel. You pay a premium of 25 cents per bushel for a $3.60 December put. What is the time value of this option?

  1. a. 10 cents per bushel
  2. b. 25 cents per bushel
  3. c. $3.60 per bushel
  4. d. the time value cannot be calculated

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Who's Ed Usset?

Biography: Edward Usset serves as a Grain Marketing Specialist for the Center for Farm Financial Management at the University of Minnesota, the developers of FINPACK software and a variety of educational programs.

Working with his colleagues at CFFM and in extension, Ed has helped develop the award winning “Winning the Game” series of workshops. He also helped develop “Tool Time,” a new series of workshops dedicated to understanding and using grain pricing tools. He teaches "Futures and Options Markets" at the University. His first book, “Grain Marketing is Simple (it’s just not easy)” was released in 2007. You can reach him at usset001@umn.edu.

Books: Ed wrote and had his first book published, “Grain Marketing is Simple (it’s just not easy)” in 2007.

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