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Table 2.8 Futures Price Corn futures prices on the Chicago Mercantile Exchange, May 10, 2016 Maturity Date July 2016 September 2016 December 2016 March 2017

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Table 2.8 Futures Price Corn futures prices on the Chicago Mercantile Exchange, May 10, 2016 Maturity Date July 2016 September 2016 December 2016 March 2017 May 2017 July 2017 $3.81 3.83 3.88 3.96 4.02 4.07 Source: www.cmegroup.com. Look at the futures listings for the corn contract in Table 2.8. Suppose you buy one contract for May 17 delivery. If the contract closes in May-17 at a level of 422, what will your profit be? (Do not round intermediate calculations. Round your answer to 2 decimal places.) obook D Pron is a Romance

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