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FIGURE 2.11 Corn futures prices on the Chicago Mercantile Exchange, April 18, 2017 Source wwe come group.com April 18, 2017 Maturity May '17 Jul 17

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FIGURE 2.11 Corn futures prices on the Chicago Mercantile Exchange, April 18, 2017 Source wwe come group.com April 18, 2017 Maturity May '17 Jul 17 Sep 17 Dec '17 Mar '17 LAST 3.6125 3.6775 3.7525 3.8575 39575 CHG HIGH -0.0525 3 .6800 -0.05503.7450 -0.0475 3.8125 -0.0450 39150 -0.0400 40025 LOW 3.6075 3.6725 3.7475 3.8525 3.9475 Look at the futures listings for corn in Figure 211 Suppose you buy one contract for September 2017 delivery at the closing price. If the contract closes in September at a price of $3.9 per bushel, what will be your profit or loss? (Each contract calls for delivery of 5,000 bushels.) (Round your answer to 2 decimal places.)

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