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Use the following corn futures quotes: 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

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Use the following corn futures quotes: 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 Chg -2.750 -2.750 -2.000 -2.000 Open Int 597,913 137,547 153, 164 29,258 a. How many of the March contracts are currently open? Contracts 29,258 b. How many of these contracts should you sell if you wish to deliver 225,000 bushels of corn in March? Contracts c. If you actually make delivery, how much will you receive? Assume you locked in the settle price. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Price

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