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Suppose you decide to write wheat futures contracts today. You write 15 contracts. Contract size is 5,000 bushels. Todays price is $5.98/bushel. (Source: CME, December

Suppose you decide to write wheat futures contracts today. You write 15 contracts. Contract size is 5,000 bushels. Todays price is $5.98/bushel. (Source: CME, December 10, 2020). Further suppose you net out your position next month at $6.50/bushel. Calculate your total profit (or loss). Ignore commissions & taxes. Show all work.

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