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not yet selected/registered one, lets hope some better sense woul d prevail over them sooner than latter). I am listing down a few guidelines for your analysis. I appreciate if you can incorporate them. Description of the commodity (Brief history about its trading and current st ate) Relevance Types of products (e.g. Options, futures, etc.): A brief commentary on each of them Analysis and model building (using mainly latest available data): Implicatio ns State of its trading in India (its relevance in Indian context, potential, a nd recommendations) Learning experiences (comments on trading potential) You have to prepare a report (not less than 2500 words, Times Roman, 12pt) and s ubmit the hard copy at my workstation by the end of this calender year. You are also expected to make a brief presentation (15 minutes) on your study. Those pre sentations will be scheduled during the last three sessions of this course. Wheat Futures Contract A wheat futures contract is an agreement between a buyer and a seller to receive or deliver a product on a future date at a price they have negotiated today. Th e agreement is standardized as to delivery period, contract size and quality of the product. These specifications are determined by the exchange. Wheat futures contracts typically are used as a price protection mechanism or an investment tool, not as a method of selling or obtaining a product. To avoid ha ving to meet his contractual obligation to receive or deliver a product, a buyer or seller must liquidate his wheat futures contract. A buyer (long) would sell his wheat futures contract, and a seller (short) would buy his wheat futures con tract back. This procedure is called offsetting a wheat futures position. The ability to deliver is necessary to maintain the economic relationship betwee n the cash and wheat futures markets. Many savvy wheat farmers use the wheat fut ures and wheat options to hedge their crops against adverse wheat futures price movements.