Relative current basis and current futures for basis contract, cash forward contract, do nothing put option hedge, and futures hedge put option hedge.

Figure 12-5. The marketing cross.

Source: A Guide to Price-Risk Management in Grain Marketing for North Carolina, South Carolina, and Georgia (content.ces.ncsu.edu/pdf/a-guide-to-price-risk-management/2018-07-23/basmaker_curtis.pdf).