Suppose today is March 27, 2018, and your firm produces breakfast cereal and needs 100,000 bushels of corn in May 2018 for an upcoming promotion. You would like to lock in your costs today because you are concerned that corn prices might go up between now and May. Use Table 25.2 a. What is the total price are you locking in for the 100,000 bushels of corn based on the day's closing price? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. Suppose corn prices are $4.11 per bushel in May. What is the profit or loss on your futures position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a. Total cost b. 2836 11 Aune Japanese April June Canadian April British Po April June Swiss Fras Aune Australian April May 3189 June Sept Dec Mexican P. June 0 Euro (CME April 1 June 1 Sept 270 od 2805 2842 2795 000 130,534 Agriculture Futures Com (CBT-5.000 buscorts perbu May 374.00 376.00 2.25 374.00 655,098 282.50 384.50 380.75 382.50 484352 Oats (CBT)-5.000 bu.cents per bu May 227.75 228.75 225.50 226.00 --50 4472 July 236,50 236 50 233.00 233.50 -175 117 Soybeans (CBT)-5.000 bu.cents per bu May 1027.00 1031.25 1017 1019.50 6.00 352,099 July 1037 75 1042 DO 1028,00 1030.25 6.25 244829 Soybean Meal (CBT)-100 tons Sperton May 37.70 378.50 371.50 372.40 -2.60 190,304 July 379.40 381.00 374.20 375.10 -2.70 123,002 Soybean Oil (CBT) 60.000 lbs.cents perb May 31.46 31.54 3135 31.58 12 237.500 July 31.72 31 61 31.85 13 123,056 Rough Rice (CGT-2000 wt.Sper cut May 124.00 1250.00 123950 124450 -150 5814 July 1261.50 1262.50 125500 1261.00 1,348 Wheat (CBT) 5000 bu.cents perbu May 45425 457.50 448.75 449.00 -5.25 223,995 July 471.50 474.00 466.00 466.50 -5.00 128,565 Wheat C) 5000bu.cents per bu May 469.50 473.00 463.75 164.50 -4.25 108,637 July 492.00 483.00 -4.25 80,634 Wheat MPLS) 5,000 buscorts perbu May 597,75 604400 59125 593.25 -4,00 32,649 605 25 611 25 599.75 601.75 -3.25 12,612 Cattle Feeder (OME) 50.000 lbs.cents per March 135.000 135.000 135.000 135.05 500 3,284 May 135.550 137.875 135.435 136.350 30019288 Cattie-Live (OME) 40.000 lbs.cents portb. Apri 115.400 116575 115.000 115.05 250 45 226 June 105.325 105675 104.900 105.250 -050 160,211 Hogs-Lean(CME) 40,000 lbs.centsperto April 58.000 58.225 57.57 57.750 275 25,619 June 74150 74.750 73775 24.025 075 97,970 Lumber (OME-110,000 bd ft. Sper 1000bdit May 49.40 507.10 498.00 507.00 9.90 5,421 July 485.00 4940 14.10.00 813 Milk (OME)-200 000 is cents per March 1422 14.23 14.22 1422 4245 May 1439 14.40 1431 140 DS Cocoa CE-US)-10 mettons Sporton May 2.623 2,423 2,534 2.554 -61 110,347 July 2,650 2,050 2.564 2.583 -59 76,393 Coffee CE-US)-37500ts.contsport May 11.40 119.75 11770 118.95 30 140,705 120.45 12L70 119.80 121.00 16059291 Mini DJ Ind Aine 24 Sept 20 S&P 500 In Lune 266 Mini S&PSC June 265 Sept 2666 Mini S&PM une 1881 Mini Nasdac Lane 677 Sept 681 Mini Russell ne Mint Russell 1078 U.S. Dollar In June 22
