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ADM purchases 55,000 bushels of soybeans in July. In January, when the spot price of soybeans was $10.56/bushel, ADM hedged the entire planned purchase with

ADM purchases 55,000 bushels of soybeans in July. In January, when the spot price of soybeans was $10.56/bushel, ADM hedged the entire planned purchase with September futures contracts at $10.30/bushel. Soybean futures are defined as 5,000bu. ADM lifts the hedge in July. The spot price of soybeans is now $10.50/bushel and the September futures price is now $10.40/bushel. What is ADM's net revenue (+) or net expenditure (-) for the hedging transaction (rounded $ two places after the decimal)?

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