A speculator opens a short position in October soybean futures. The current soybean spot price is 1232 and the current October soybean futures price is 1286. The speculator will open a futures position in 40 contracts. In September, the October soybean futures price is 1305. What is the value of the speculators margin account in September?

Assume all bonds pay semi-annual coupons unless otherwise instructed. Assume all bonds have par values per contract of $1,000.