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Suppose you were able to buy one bushel of wheat from a farmer for $7 and you were able to, simultaneously, sell a futures contract
Suppose you were able to buy one bushel of wheat from a farmer for $7 and you were able to, simultaneously, sell a futures contract on one bushel of wheat at $8. What is your profit or loss at expiration of the futures contract assuming you close out all of your positions and the value of the bushel of wheat goes to $6? (Ignore any carrying costs)
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