Assume you are a trader who has bought one July 2020 corn futures contract at a price of US$4.05/bu. You deposit US$880 into your margin account, which the initial margin. The maintenance margin is US$800. Over the next several trading days in the table below, identify and quantify clearly any margin calls by calculating and reporting the daily balance.

Margin Call? If Yes, how much? Day Closing Price US$/bu Action Balance Initial Margin = US$880 Maintenance Margin US$800 Buy July corn futures@US$4.05/bu US$4.05 US$880 1 US$4.04 US$830 2 US$3.85 3 US$3.81 4 US$3.71 US$3.75 6 US$3.95 7 US$4.15 8 st Ln 00