Calculate the gains or losses for the following futures trades executed on the ICE:

1. (a) (3 points) Suppose you enter into a long position on one contract on March 2021 White Sugar Futures at a futures price of F0 = 333.60. One month later, you close out your position by entering into a one contract short position at F1 = 336.20.

2. (b) (3 points) You enter into a 5 contract short position on 5 May 2021 Cotton No.2 Futures contracts at F0 = 66.53. Five months later, you close out your position at F5 = 65.95.

3. (c) (4 points) You are shorting 2 Canola Jul 2021 Futures with a futures price of F0 = 481.30. Today, you enter into 5 long positions at a price of F2 = 494.30 and in two months you close out your position at F4 = 498.30.