Suppose you purchase a May 2017 soybean meal futures contract on this day at the last price of the day. Use Table 23.1

What will your profit or loss be if soybean meal prices turn out to be $339.80 per ton at expiration?

-1.25 500,405 -1.25 346,739 -50 4,155 3.00 3,027 Agriculture Futures Corn (CBT)-5,000 bu; cents per bu. March 369-50 372.75 367.50 369.50 May 377.25 380.25 375.25 377.25 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 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 -8.25 248,998 210,368 May -7.75 -2.80 126,399 -2.70 122,484 -.02 123,991 -.03 118,319