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Suppose you bought a single September 2023 soybean futures contract today at 1,400 (cents per bushel). Each contract is for 5,000 bushels. The initial margin

Suppose you bought a single September 2023 soybean futures contract today at 1,400 (cents per bushel). Each contract is for 5,000 bushels. The initial margin is $5,000 and the maintenance margin $3,500 per contract. Tomorrow, soybean futures close at 1,369 (cents per bushel). Will you receive a margin call? If so, find the deposit required to service the margin call.

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