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QUESTION 2 Use the following corn futures quotes: Contract Month Mar May July Sep Corn 5,000 bushels Low Settle 451.750 452.000 Chg -2.750 Open

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QUESTION 2 Use the following corn futures quotes: Contract Month Mar May July Sep Corn 5,000 bushels Low Settle 451.750 452.000 Chg -2.750 Open Int Open High 455.125 457.000 597,913 467.000 468.000 463.000 463.250 -2.750 137,547 -2.000 153,164 472.250 -2.000 29,258 477.000 477.500 472.500 473.000 475.000 475.500 471.750 a. How many of the July contracts are currently open? b. How many of these contracts should you sell if you wish to deliver 130,000 bushels of corn in July? contracts 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.)

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