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Use the following corn futures quotes: Corn 5,000 bushels Contract Month High Open 455.125 467.000 468.000 463.000 Low 457.000 451.750 Settle Chg 452.000 -2.750 Mar

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Use the following corn futures quotes: Corn 5,000 bushels Contract Month High Open 455.125 467.000 468.000 463.000 Low 457.000 451.750 Settle Chg 452.000 -2.750 Mar May 463.250 -2.750 July -2.000 477.000 477.500 472.500 473.000 475.000 475.500 471.750 472.250 Sep -2.000 a. How many of the September contracts are currently open? Contracts 597,913 b. How many of these contracts should you sell if you wish to deliver 110,000 bushels of corn in September? Contracts 33 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.) Open Int 597,913 137,547 153,164 29,258

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