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Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Settle Chg Open Int Mar 455.125 457.000 451.750 452.000 2.750 597,913
Use the following corn futures quotes:
Corn 5,000 bushels | ||||||
Contract Month | Open | High | Low | Settle | Chg | Open Int |
Mar | 455.125 | 457.000 | 451.750 | 452.000 | 2.750 | 597,913 |
May | 467.000 | 468.000 | 463.000 | 463.250 | 2.750 | 137,547 |
July | 477.000 | 477.500 | 472.500 | 473.000 | 2.000 | 153,164 |
Sep | 475.000 | 475.500 | 471.750 | 472.250 | 2.000 | 29,258 |
a. How many of the July contracts are currently open?
b. How many of these contracts should you sell if you wish to deliver 140,000 bushels of corn in July?
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.)
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