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Use the following corn futures quotes for Problem: Contract Month Open Settle Chg Open Int -2.750 Corn 5,000 bushels High Low 457.000 451.750 468.000 463.000

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Use the following corn futures quotes for Problem: Contract Month Open Settle Chg Open Int -2.750 Corn 5,000 bushels High Low 457.000 451.750 468.000 463.000 477.500 472.500 475.500 47 1.750 452.000 463.250 Mar May July Sep -2.750 455.125 467.000 477.000 475.000 597,913 137,547 153,164 29,258 473.000 -2.000 472.250 -2.000 Using Futures Quotations Suppose you buy 15 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.125, and you close out your position. Calculate your dollar profit on this investment

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