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3. On November 23th, an investor takes a long position on five May 2021 Sugar contracts. The price at the time is 14.13 cents per

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3. On November 23th, an investor takes a long position on five May 2021 Sugar contracts. The price at the time is 14.13 cents per pound. Each contract is for 112,000 pounds of Sugar. What will be the gain/loss to the trader if the spot price is 14.68 cents per pound on December 30th when the contract is closed out

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