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QUESTION 14 Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Mar 455.125 457.000 451.750 May 467.000 468.000 463.000 July

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QUESTION 14 Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Mar 455.125 457.000 451.750 May 467.000 468.000 463.000 July 477.000 477.500 472.500 Sep 475.000 475.500 471.750 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 Suppose you sell 35 of the May corn futures at the high price of the day. You close your position later when the price is 476.375. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places and enter negative with a "minus)

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