Suppose you purchase a May 2017 corn futures contract on this day at the last price of the day. Use Table 23.1 What will your profit or loss be if corn prices turn out to be $3.722 per bushel at expiration?

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Open interest 672 120,434 1,387 288,888 63.531 18,296 29,516 4,419 TABLE 23.1 Sample Wall Street Journal Futures Price Quotations Metal & Petroleum Futures Contract Open High hilo Low Settle Chg Copper-High (CMX)-25,000 lbs: $ per lb. Feb 2.6735 2.6735 2.6715 2.6480 -0.0125 March 2.6660 2.6765 2.6410 2.6535 -0.0130 Gold (CMX)-100 troy oz; $ per troy oz. Feb 1239.40 1243-50 1226.90 1235.10 -2.50 April 1242.70 1246.20 1226.10 1236.80 -2.70 June 1246.10 1249.00 1230.00 1240.00 -2.70 Aug 1250.10 1252.00 1235.10 1243.10 -2.80 Dec 1254.00 1256.90 1239.00 1249.20 -2.70 June'18 1266.00 1266.00 1254.80 1259.00 -2.50 Palladium (NYM)-50 troy oz; $ per troy oz. Feb 732.85 732.85 732.85 772.60 2.80 March 770.60 778.80 768.00 772.55 2.80 June 771.00 780.00 770.40 774.00 2.85 Sept 775-30 777.00 775.10 775.00 3.60 Platinum (NYM)-50 troy oz; $ per troy oz Feb 978.80 979.10 978.80 1019.20 2.80 April 1019.60 1032.10 1016.20 1022.20 2.80 Silver (CMX)-5,000 troy oz.; $ per troy oz. Feb 17.750 17.815 17.750 17.720 0.037 March 17.780 17.845 17.615 17.741 0.036 Crude Oil, Light Sweet (NYM)-1,000 bbls; $ per bbl. March 52.37 53.21 52.37 53.00 0.66 April 52.98 53.70 52.95 53.46 0.55 May 53.42 54.10 53.41 0.51 June 53.90 54.45 53.90 54.25 0.49 1 22,948 6,503 17 42 59,479 179 113,427 385,634 280,780 192,554 264,679 53.88 0.49 229,809 0.37 111,505 111,133 .0055 .0059 72,273 .0175 .0122 112,099 85,512 .015 .013 .017 .019 197,215 146,224 137,143 79,485 3.272 .020 79.570 .020 93,442 Dec 54.79 55-35 54.79 55.21 Dec'18 55.10 55-50 55.04 55-32 NY Harbor ULSD (NYM)-42,000 gal; $ per gal. March 1.6360 1.6624 1.6345 1.6415 April 1.6443 1.6693 1.6435 1.6500 Gasoline-NY RBOB (NYM)-42,000 gal; $ per gal. March 1.5510 1.5811 1.5471 1.5702 April 1.7600 1.7800 1.7575 1.7741 Natural Gas (NYM)-10,000 MMBtu; $ per MMBtu. March 3.143 3.189 3.110 3.141 April 3.212 3.253 3.179 3.209 May 3.269 3-311 3.240 June 3.339 3-365 3.298 3-330 July 3.385 3-413 3.350 3-380 Oct 3.385 3.423 3.358 3.392 Agriculture Futures Corn (CBT)-5,000 bu; cents per bu. March 369.50 372.75 367.50 369.50 May 377.25 380.25 377.25 Oats (CBT)-5,000 bu; cents per bu. March 256.00 257.50 250.00 254.50 May 248.25 254.00 246.00 253.00 Soybeans (CBT)-5,000 bu; cents per bu. March 1057.00 1061.50 1045.00 1050.50 May 1067.25 1071.50 1055-50 1061.50 Soybean Meal (CBT)-100 tons; $ per ton. March 340.70 341.60 335.90 338.40 May 344.80 345.80 340.10 342.60 Soybean Oil (CBT)-60,000 lbs; cents per lb. March 34.67 34.98 34.47 34.67 May 34.96 35.26 34.76 34.95 -1.25 375.25 500,405 346,739 -1.25 -50 4,155 3,027 3.00 -8.25 -7.75 248,998 210,368 -2.80 126,399 122,484 - 2.70 -.02 123.991 118,319 -.03 947.50 -8.00 9,388 972.50 -8.50 2,516 11.00 179,982 443-50 455.25 11.75 137,497 71,740 451.25 475.00 9.25 8.50 69.377 11.00 24.788 568.50 566.50 9.25 29.537 19.575 123.625 124.050 1.325 1.075 10,511 Rough Rice (CBT)-2,000 cwt; $ per cwt. March 953.00 960.50 942.00 May 978.50 984.50 968.00 Wheat (CBT)-5,000 bu.; cents per bu. March 430.50 444.00 429.50 May 442.00 455-50 440.75 Wheat (KC)-5,000 bu; cents per bu. March 440.25 451.75 438.25 July 465.25 475-25 462.75 Wheat (MPLS)-5,000 bu; cents per bu. March 557.50 569.50 556.00 May 556.75 567.00 555-50 Cattle-Feeder (CME)-50,000 lbs., cents per lb. March 122.525 123.800 121.900 April 123.250 124.200 122.450 Cattle-Live (CME)-40,000 lbs; cents per lb. Feb 117.250 117.750 116.775 April 115.000 115.175 114.125 Hogs-Lean (CME)-40,000 lbs, cents per lb. Feb 73,900 74.500 73.550 April 72.125 70.625 Lumber (CME)-110.000 bd. ft., $ per 1,000 bd. ft. March 381.70 381.70 373.80 May 379.60 381.70 375.90 Milk (CME)-200,000 lbs.; cents per lb. Feb 16.87 16.89 16.79 March 16.91 17.03 16.73 Cocoa (ICE-US)-10 metric tons; $ per ton. March 1,993 2,018 1,969 May 2,008 2,038 1,988 Coffee (ICE-US)-37.500 lbs; cents per lb. 17,410 117.650 114.825 .875 .075 144.593 74.225 70.775 .875 -950 14,671 104,603 72.250 3.50 2,698 375-40 378.40 2.60 1.541 4,180 16.85 16.97 .03 4.392 - 19 35,455 1,974 1,996 - 15 105,293 43.558 73,254 -.11 220,619 224,526 -.08 30.40 946 1,768 104,332 76.40 .22 97.772 7.438 3,434 March 143.40 145.70 142.85 145.20 2.30 May 145.95 148.05 145.25 147.60 2.30 Sugar-World (ICE-US)-112,000 lbs; cents per lb. March 20.74 21.03 20.62 20.65 May 20.72 20.97 20.61 20.65 Sugar-Domestic (ICE-US)-112,000 lbs; cents per lb. May 30.40 30.40 30.32 .07 July 30.40 30.40 30.39 30.40 Cotton (ICE-US)-50,000 lbs; cents per lb. March 75-43 76.13 75.25 75-58 33 May 77.30 76.40 76.65 Orange Juice (ICE-US)-15,000 lbs; cents per lb. March 172.65 175.00 171.55 174.00 1.00 May 167.80 169.75 166.80 168.75 .60 Interest Rate Futures Treasury Bonds (CBT)-$100,000; pts 32nds of 100% March 153-160 153-170 151-310 152-060 -1-030 June 152-060 152-060 150-240 150-300 -1-030 Treasury Notes (CBT)-$100,000; pts 32nds of 100% March 125-155 125-155 124-270 124295 -14.0 June 124265 124-270 124-105 124-120 -14.5 5 Yr. Treasury Notes (CBT)-$100,000; pts 32nds of 100% March 118-132 118-132 118-012118-025 -8.5 June 118-015 118-015 117-230 117-235 -9.0 2 Yr. Treasury Notes (CBT)-$200,000; pts 32nds of 100% March 108-170 108-172 108-142 108-147 June 108-060 108-060 108-060108-055 -2.5 30 Day Federal Funds (CBT)-$5,000,000; 100-daily avg. 99.343 99.345 99-343 99.342 April 99.315 99.320 99.305 99.310 -.005 10 Yr. Del. Int. Rate Swaps (CBT)-$100,000; pts 32nds of 100% 622,929 2,310 3,169.794 68,648 3,119,541 137,090 -2.0 1,349,070 8,979 Feb -.001 100,104 373,852 --438 31,717 4,896 83,716 1,455,611 -.0100 -.0200 1,434,355 1,350,776 191,960 9,846 115,305 2,625 March 94.703 94.766 94-359 94.438 1 Month Llbor (CME)-$3,000,000; pts of 100% Feb 99.2275 Eurodollar (CME)-$1,000,000; pts of 100% Feb 98.9650 98.9650 98.9625 98.9625 -.0025 March 98.9450 98.9450 98.9300 98.9350 June 98.8000 98.8000 98.7750 98.7800 Dec 98.5400 98.5450 98.5000 98.5050 -.0300 Currency Futures Japanese Yen (CME)- 12,500,000; $ per 100 March .8948 .8949 .8829 .8834 -.0097 June .8982 .8986 .8868 .8872 -.0096 Canadian Dollar (CME)-CAD 100.000; $ per CAD March .7610 .7639 .7596 -7614 .0011 June 7619 .7646 .7604 .7622 .0011 British Pound (CME)-62,500; $ per March 1.2544 1.2589 1.2497 1.2502 -.0031 June 1.2563 1.2616 1.2527 1.2531 -.0032 Swiss Franc (CME)-CHF 125,000; $ per CHF March 1.0066 1.0079 .9995 .9999 -.0064 June 1.0136 1.0055 1.0058 -.0064 Australian Dollar (CME)-AUD 100,000; $ per AUD March 7636 -7659 7605 .7622 -.0004 June .7617 7641 .7605 -.0004 Sept 7576 .7611 -7576 -7593-0004 Mexican Peso (CME)-MXN 500,000; $ per MXN March .04861 .04904 .04847 .04879.00018 June .04791 .04837 .04782 .04811.00018 Euro (CME)-125,000; $ per March 1.0706 1.0721 1.0662 1.0670 -.0029 June 1.0746 1.0770 1.0712 1.0720 -.0029 208,495 1,661 47,842 180 1.0100 115.779 7589 1,205 688 142,828 47,992 391,573 10,473 134 126,519 893 136 68,270 14.10 14.20 1,259 14.00 2,882, 114 14.00 36,548 Index Futures Mini DJ Industrial Average (CBT)-$5 x index March 20010 20158 19982 20136 June 19921 20093 19921 20073 S&P 500 Index (CME)-$250 x index March 2290.70 2307.50 2288.30 2304-30 June 2295.50 2302.90 2295.50 2299.10 Mini S&P 500 (CME)-$50 x index March 2290.50 2307.75 2287.75 2304.25 June 2285.00 2302.75 2282.50 2299.00 Mini S&P Midcap 400 (CME)-$100 x index March 1694-30 1712.80 1691.70 1709.70 Mini Nasdaq 100 (CME)- $20 x index March 5189.8 5219-3 5186.3 5212.3 5193-3 5217.8 5186.0 5211.3 Mini Russell 2000 (ICE-US)-$100 x index March 1356.50 1380.10 1354.60 1377.00 June 1357.30 1375.70 1357.30 1374-30 Mini Russell 1000 (ICE-US)-$100 x index March 1275.10 1282.10 1274.60 1280.60 U.S. Dollar Index (ICE-US)-$1,000 x index March 100.24 100.67 100.08 100.65 100.22 100.58 100.05 100.56 16.30 94.526 21.0 233,819 621 June 21.0 21.00 613,166 21.00 540 8.50 7,872 38 69,426 June 36 2,792