Agriculture Economics Marketing System Using the book: The Agricultural Marketin

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Agriculture Economics Marketing System Using the book: The Agricultural Marketing System by Rhodes et al

The following question has different answers on the internet and on Chegg. I think the answer is B or D. Please explain to me why the answer you give is correct and the others are not. I really need to get this correct. Thank you so much.

You purchased a December futures corn contract on July 1. A month later you decide you would like to take delivery. You:

A. can call up your broker and get almost immediate deliver

B. must wait until December 1 and then you can demand delivery.

C. will only get delivery if by chance the buyer you bought from decides to deliver.

D. will get delivery in December if you wait long enough.

Explanation / Answer

According to future contract act the buyer can get the delivery only after the expiry date of contract. As the expiry date is not mentioned we cannot know the exact date. Till the expiry date is completed the buyer can't get delivery of contract.

Mostly in these type of contract the last trading day or expiration date is 15th of that calendar month.

Answer: will get delivery in deceDece if you wait long enough.

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