ADM purchases 55,000 bushels of soybeans in July. In January, when the spot price of soybeans was $10.53 bushel, ADM hedged the entire planned purchase with September futures contracts at 1030. Soybean futures are defined as 5,000bu, $0.01 bu. ADM lifts the hedge in July. The spot price of soybeans is now $10.50 /bushel and the basis on September futures is now $0.12. What is ADM's profit (+) or loss () on its futures position (rounded $ two places after the decimal)