Question
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 |
Suppose you buy 16 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.25, 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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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
17th Edition
0077304454, 978-0077304454
