Can anyone help me with this question. Thank you in advance. :)

Use the settlement price quotations in the following extract from the ASX website on 15 November 2019 to answer question.

Gracies Grains has distributed a genetically modified grain that has been widely used by NSW wheat farmers. Gracie decides that before this evenings Four Corners expos goes to air detailing the link with Deranged Baker Disorder, she should take up a position to profit from the imminent detrimental impact the news will have on NSW wheat prices. If she is prepared to trade in 50 close-dated Eastern Australian Wheat futures contracts (of 20 metric tonnes / contract);

i) outline a possible strategy.

ii) Calculate her profit or loss if all futures contract decreased in value by 60%.

Eastern Australian Wheat (WM) Futures Treme 342.00 Last Trade 15/11/19 13 45 16/11/19 13:41 341.00 343.00 343 00 Prices are DELAYED by a minimum of 20 minutes AR Jan 20 334 50 363.00 Mar 20 33150 360 00 May 20 37100 220 34000 Sep 20 Jan 21 342.00 346.00 346 50 348.50 335 00 12/11/10 1736 Jan 22 343 00 333.50 328.50 Last Sets 2018 17:45 Type Month Category Commodity Markets Security Eastern Australa Food Barey (UB) Futures Eastern Australia Feed Barley (UB) Futures Prices are DELAYED by a minimum of 20 minutes. Last stedene Trafodom Doment 33000 Nov 10 Jan 20 Mar 20 295.00 27300 270 00 10/11/10 18.50 15/11/19 13:41 270.00 270.00 309.00 May 20 Jul 20 277.00 20100 31600 Sep 20 281.00 27900 Jan 21 Jan 22 279.00 Eastern Australian Wheat (WM) Futures Treme 342.00 Last Trade 15/11/19 13 45 16/11/19 13:41 341.00 343.00 343 00 Prices are DELAYED by a minimum of 20 minutes AR Jan 20 334 50 363.00 Mar 20 33150 360 00 May 20 37100 220 34000 Sep 20 Jan 21 342.00 346.00 346 50 348.50 335 00 12/11/10 1736 Jan 22 343 00 333.50 328.50 Last Sets 2018 17:45 Type Month Category Commodity Markets Security Eastern Australa Food Barey (UB) Futures Eastern Australia Feed Barley (UB) Futures Prices are DELAYED by a minimum of 20 minutes. Last stedene Trafodom Doment 33000 Nov 10 Jan 20 Mar 20 295.00 27300 270 00 10/11/10 18.50 15/11/19 13:41 270.00 270.00 309.00 May 20 Jul 20 277.00 20100 31600 Sep 20 281.00 27900 Jan 21 Jan 22 279.00