Futures Pricing for Corn Contract

ABC Corporation has entered into a long futures contract for 100,000 bushels of corn, which is set to expire in 3 months. The spot price of corn today is $5.00 per bushel, and the futures price for the contract is quoted at $5.20 per bushel. The risk-free rate is 2% per annum, and the cost of carrying (storage and insurance) over the period is estimated to be $0.10 per bushel.

What is the appropriate futures price for this contract when taking into account the cost of carry?