Its not possible and not safe to hedge all your position.
Companies usually only hedge their receivables or payables or in most cases net exposure on their balance sheet
Future Revenue or future costs are usually is not hedged atleast not long term. There was a case of many companies in South America that went bankrupt during gulf oil crises when they hedged their oil revenue.
When a company hedges a position usually they have to provide 10 or 20pc margin for the hedge. Hence if you are forward selling $10m of oil, you pay a margin of say $1m
If the price goes a lot against you, then you have to come up with extra margin. Although your cost of production will still mean profit but in the short term the company has a big liquidity problem
Due to this generally its not considered wise to hedge a lot of forward revenue or cost. Around 3-6 months is probably safe
As rates increase or decrease, as revenues are not hedged, the companies margins will get affected and share prices reflect this