Grain amp fiber foods gff produces granola cereal for sale

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Reference no: EM13598560

Grain & Fiber Foods (GFF) produces granola cereal for sale to large grocery stores. As part of the production process, GFF uses large quantities of corn, oats, wheat, and soybeans. To induce local production of these grains, GFF contacts with more than 300 farmers to purchase their crops at a set price with a set delivery. A buyer representative of GFF negotiates each price with the farmer. To offset the potential swings in prices and to reduce the risk of paying a higher than market price for the grapin at the time of delivery, GFF enters several futures contracts as hedges. At the end of the year, GFF has grain inventories, purchase commitments, and some forward contracts (being used as hedges) outstanding. (Ziebart, 2002)

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Reference no: EM13598560

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