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Suppose that in September ABC Company holds long position with 1 million gallons of January heating-oil futures contracts at a futures price (fixed price) of $3.2 per gallon 1 expiring in Jan 2023. Suppose the spot price of heating oil in Jan 2023 up to $2.90 per gallon. What is the cumulative profit of this long position? Suppose John took short positions with 3 futures contracts of wheats with fixed price of $9 per bushel expiring in Sep 12 2022. The contract size is 5000 bushels of wheats. Suppose the spot price of wheats in Sep 2022 up to $12.6 per bushel. What is the cumulative profit of this short 13 position? 14 short position sell \( 1 5 \longdiv { \text { Number of Contracts } } \) 16 Contract sire (no of bushels) 17 Future price 18 Spot price in Sep 2022 19 Cumulative profit/Total payoff 20 What if John plans to sell 15,000 bushels of wheats planted from his farm in Sep 2022, what's the cash he will receive 22 from local trading? 23 Spot price in Sep 2022 (from previous question) 24 Number of bushels 25 Cash income from local trading Suppose that in September ABC Company holds long position with 1 million gallons of January heating-oil futures contracts at a futures price (fixed price) of $3.2 per gallon 1 expiring in Jan 2023. Suppose the spot price of heating oil in Jan 2023 up to $2.90 per gallon. What is the cumulative profit of this long position? Suppose John took short positions with 3 futures contracts of wheats with fixed price of $9 per bushel expiring in Sep 12 2022. The contract size is 5000 bushels of wheats. Suppose the spot price of wheats in Sep 2022 up to $12.6 per bushel. What is the cumulative profit of this short 13 position? 14 short position sell \( 1 5 \longdiv { \text { Number of Contracts } } \) 16 Contract sire (no of bushels) 17 Future price 18 Spot price in Sep 2022 19 Cumulative profit/Total payoff 20 What if John plans to sell 15,000 bushels of wheats planted from his farm in Sep 2022, what's the cash he will receive 22 from local trading? 23 Spot price in Sep 2022 (from previous question) 24 Number of bushels 25 Cash income from local trading