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A large agribusiness firm has contracted to deliver 100,000 bushels of wheat for $8.50 a bushel at the end of October. On the delivery date,

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A large agribusiness firm has contracted to deliver 100,000 bushels of wheat for $8.50 a bushel at the end of October. On the delivery date, the spot price of wheat is $8.70 per bushel. Which of the following is true? The seller of the contract has $20,000 profit. The buyer of the contract has a $20,000 profit The buyer of the contract has a $20,000 loss

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