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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

1. How many of the September contracts are currently open?

Contracts

2.

How many of these contracts should you sell if you wish to deliver 85,000 bushels of corn in September?

Contracts

3.

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 dollar. Omit the "$" sign in your response.)

Price $

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