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Use the following corn futures quotes: Contract Month Chg Open Int 597,913 Mar -2.750 May Open High 455.125 457.000 467.000 468.000 477.000 477.500 475.000 475.500

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Use the following corn futures quotes: Contract Month Chg Open Int 597,913 Mar -2.750 May Open High 455.125 457.000 467.000 468.000 477.000 477.500 475.000 475.500 Low Settle 451.750 452.000 463.000 463.250 472.500 473.000 471.750 472.250 -2.000 July -2.750 137,547 -2.000 153,164 29,258 Sep Suppose you buy 23 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 463.375, 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 15,531.25 Corn 5,000 bushels

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