Q8

Corn 5,000 bushels Contract Month Mar May July Open 455.125 467.000 477.000 475.000 High 457.000 468.000 477.500 475.500 Low 451.750 463.000 472.500 471.750 Settle 452.000 463.250 473.000 472.250 Chg -2.750 -2.750 -2.000 -2.000 Open Int 597,913 137,547 153, 164 29,258 Sep a. How many of the May contracts are currently open? Answer is complete and correct. Contracts 137.547 b. How many of these contracts should you sell if you wish to deliver 110,000 bushels of corn in May? Answer is complete and correct. Contracts 22 c. If you actually make delivery, how much will you receive? Assume you locked in the settle price. (Do not round intermediate calculations. Round your answer to the nearest whole number.) * Answer is complete but not entirely correct. Price $ 519,475