SS, good post, only a slight dissagreement regarding the CR bit - the key information I'd look to for that would be the basket actual sales prices realised in the quarter, and cash reciepts + tonnes sold (i.e. future cashflow in June/July from last quarter that weren't recieved in the quarter), as to wether or not a CR is would be required depending on the future RE prices. I don't think it's a given that a CR is required like your post seems to insinuate.
short position question?, page-10
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