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Refer to the following hypothetical Soybean Market Futures Quotes to answer the question. Soybean Market Price Unit: Cents and quarter-cents/bu (5,000 bu) Assume you are
Refer to the following hypothetical Soybean Market Futures Quotes to answer the question. Soybean Market Price Unit: Cents and quarter-cents/bu (5,000 bu) Assume you are a speculator in the soybean market. Refer to the futures table where on July 21, 2021, you bought five JAN22 soybean contracts for the opening price traded that day. Later in the day, you sold five JAN22 soybean contracts at the high price of the day. Assume there was a $25 broker fee to execute the round trade. Calculate your return in the market. Show your work for credit
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