Why wouldnt starbucks simply let the contract expire

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Question: Assume that today, Starbucks buys a July 2024 coffee futures contract at 100. The price of the contract then skyrockets to 500 just before the contract's expiration date in late July. Why wouldn't Starbucks simply let the contract expire, and then take delivery of coffee from the coffee exchange at 100 cents per pound?

Reference no: EM133677716

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