Hi, could you please help with the below futures contracts question.

A grain company on the 15th November 2019 wishes to take up a position to profit from trading in 50 close-dated Wheat futures contracts (of 20 tonne metric tonnes / contract);

i) Outline a possible strategy to profit.

ii)What would be his profit or loss if all futures contract decrease in value by 60%?

Wheat Futures Pricing

BidAsk

Jan 20334.50363.00

Mar 20331.50 360.00

May 20- 371.00

July 20340.00 -

Sep 20- -

Jan 21- 342.00

Jan 22- 343.00