A soybean oil contract calls for delivery of 70,000 pounds. What happens to the seller of a soybean futures contract at 16 cents per pound if the futures price closes the next day at 18 cents per pound?

		The contract is marked to market with a $1,400 gain
		The contract is marked to market with a $1,200 gain
		The contract is marked to market with a $1,400 loss
		The contract is marked to market with a $1,200 loss