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Use the following corn futures quotes: chg Contract Month Mar May July Sep Open 455.125 467.000 477.000 475.000 Corn 5,000 bushels High Low 457.000 451.750
Use the following corn futures quotes: chg Contract Month Mar May July Sep Open 455.125 467.000 477.000 475.000 Corn 5,000 bushels High Low 457.000 451.750 468.000 463.000 477.500 472.500 475.500 471.750 Settle 452.000 463.250 473.000 472.250 -2.750 -2.750 -2.000 -2.000 Open Int 597,913 137,547 153,164 29,258 Suppose you buy 15 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.125, and you close out your position. Calculate your dollar profit on this investment. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Dollar profit
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