This case is a case of buying hedging operation, the main purpose of which is to reveal the influence of basis change on hedging effect. If the price is simply considered, it is theoretically possible for an enterprise to choose to deliver at maturity instead of selling futures contracts as you said, but in practice, enterprises should consider several aspects: 1 Whether the soybean grade quality of futures warehouse receipts meets the actual needs of enterprises; Whether the soybean delivery warehouses are all in Dalian, and whether the freight and other costs are cost-effective; Whether the delivery after the combination of the settlement price and the profit and loss of the futures market will be profitable or will cause a loss of more than the basis 10 yuan.

In addition, feed enterprises need soybean meal, not soybean.