The hedge at $120 would mean that WDR had to make a payment on the derivative contract since the price was above $120 for the majority of that contract period.
This would have been extra problematic since they didn't have the cash coming in for the expected shipments.
Now that the price is below $120, they will benefit from the hedge.
Agtee?
The hedge at $120 would mean that WDR had to make a payment on...
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