Using Figure 14.1, answer the following questions:
a. What was the settle price for July 2019 wheat futures on this date? What is the total dollar value of this contract at the close of trading for the day? (Input all amounts as positive values. Enter the settle price in dollars rounded to 4 decimal places and round the dollar value to 2 decimal places.)
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| | | | | | Settle price | | | Dollar value | | |
b. What was the settle price for April 2019 gold futures on this date? If you held 90 contracts, what is the total dollar value of your futures position? (Input all amounts as positive values. Enter the settle price in dollars rounded to 4 decimal places and round the dollar value to the nearest whole number.)
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| | | | | | Settle price | | | Dollar value | | |
c-1. Suppose you held an open position of 10 June 2019 mini S&P 500 futures on this day. What is the change in the total dollar value of your position for this days trading? (A negative value should be indicated by a minus sign.)
c-2. If you held a long position, would this represent a profit or a loss to you?
multiple choice 1
d. Suppose you are short 140 January 2019 soybean oil futures contracts. Would you have made a profit or a loss on this day?
multiple choice 2
FIGURE 14.1 Futures Prices (April 10, 2019) Futures Contracts | WSJ.com/commodities Metal & Petroleum Futures Contract Open Open Open High hilo Low Settle Chg Interest Contract High hilo Low Settle Chg Interest Copper-High (CMX)-25,000 lbs.; $ per lb. Open Cotton CE-US)-50,000 lbs: cents per lb. May 78.18 78.35 July 78.73 78.84 2.9225 -0.0090 1,264 29255 -0.0085 92,345 77.62 -47 51,151 77.32 78.09 78.46 -01 April May 2.9325 29425 Gold (CMX)-100 broy oz: $ per troy oz 1304.00 1304.00 1306.20 1314.70 1314.50 1320.70 1326.50 1332.20 1329.90 1337.90 1337.30 1343.10 29110 1301.50 1309.10 1304.70 1313.90 1311.00 1319.90 132280 1331.90 1329.90 1337.90 1334.80 1343.60 Orange Juice (ICE-US)-15,000 lbs; cents per lb. May July June 81,051 10,496 7,078 108.90 109.80 108.20 11370 114.35 111.85 108.60 -80 112.20 -1.95 Au Aug 5.60 325 5.60 331,311 5.60 50,769 5.60 36,000 5.50 11,597 5.50 6,985 Dec Feb 20 Interest Rate Futures Apr Palladium (NYM)-50 troy oz: $ per troy oz. 148-070 7.0 941,582 Apr 1366.40 0.60 June 136260 1371.50 1355.00 1363.20 0.60 Sept 1.40 p Treasury Bonds (CBT) $100,000; pts 32nds of 100% June 147-280 148-170 147-230 Treasury Notes (CBT)-$100,000; pts 32nds of 100% June 123-190 123-295 123-305 124-040 1 19,677 2,205 1356.40 1361.70 1349.20 1356.80 123-170 123-255 123-270 124015 Sept 5.0 3.920,906 G.O 2,121 Platinum (NYM)-50 troy oz: $ per troy oz. Apr 900.00 900.00 900.00 903.20 5 Y. Treasury Notes (CBT)-$100,000: pts 32nds of 100% July 896.10 912.80 890.50 908.90 June 69,409 Silver (CMX)-5.000 troy oz: $ per troy oz. 115-160 115-230 115-220 115-252 3.5 4.272.721 4.0 41,922 Sept 115-147 115-202 115-202 115-240 April 15.170 15.205 15.095 15.201 15.115 15.244 May 15.185 15.265 2 Yr. Treasury Notes (CBT) $200,000; pts 32nds of 100% June 106-123 106-147 106-122 106-136 1.0 3,407,265 Crude Of Light Sw Sweet (NYM)-1000 bols: $ per bbt. May 64.22 64.70 30 Day Federal Funds (CBT)-$5,000,000;100-dally avg. 97.590 97.593 97.600 97.600 June 64.20 64.05 64.61 64.65 64.67 64.71 A 64.01 97.590 97.590-002 222,888 97.595 97.595-005 264,957 July 64.12 64.69 A 63.93 Sept 63.72 64.40 A 63.55 Dec 63.47 A May 10 Yt.Del. Int. Rate Swaps (CET) $100,000; pts 32nds of 100% June 104.406 104.797 104.406 104.641 188 1 Month Libor (CME)-$1300,000; pts of 100% 62.57 63.46 19.922 De 62.73 56 72 58.73 Dec 20 59.9 58.68 59.29 59.28 sen NY Harbor ULSD (NYM)-42.000 g; $ per gal 97.5225 15 May wz June Gasoline-NY S RBOB (NYM)-42,000 gal: $ per gal 20510 20897 A 2.0488 2.0876 20575 20910 A 2.0520 2.0092 20105 2.0692 15000 1.9806 2.0297 My Eurodollar (CME)-$1000,000; pts of 100% 97.4275 97.4275 97.4450 97.4550 97.4850 97.5050 97.5050 97.5350 20105 20702 A June Sept Dec 97.4100 97.4175-0125 225,824 97.4400 97.4450-0050 1.450.756 97.4850 97.4950 1.385,215 97.5050 97.5200 0050 1,653,693 June 2002 2.0307 A 2007 1.9850 Natural Gas (NYM)-10,000 M May 10,000 MMBtu: $ per MMB 2.706 2.729 2686 2.700 W 57% June 2.749 2.768 2726 2.742 Currency Futures July 2.805 2.824 2786 2.801 Aug 2832 2.849 2813 2.827 Japanese Yen (CME)-12,500,000; $ per 100 .8998 .5016 9047 9070 2.808 2.821 90150010 9059 0009 Sope Oct 8992 9034 2827 2.843 2.849 2.861 2,490 161,102 2.829 2.842 001 95,014 Agriculture Futures Canadian Dollar (CME)-CAD 1000,000; $ per CAD April 7508 7505 June .7528 .7497 7508 7507 7518-0001 7514 1,031 141631 Com (CBT) 5,000 bu; cents per bu 360 25 362.75 360.00 British Pound (CME)-62,500 $ per 361.75 1.75 553,142 2.25 556,095 July 368.75 371.75 368.75 370.75 1.3054 1.3118 April June 1.3052 1.3093 1.3087 0041 1.3128 0041 815 139,407 Oats (CBT)-5,000 bu; cents per bu 1.3097 1.3165 May autv 282.00 282.00 274.25 274.75 277.00 279.00 3,102 269.75 272.75 -1.00 1,875 July Soub 74,074 1.0038-0031 1.0123 -0032 48 Soybeans (CBT)-5,000 bu; cents per bu 75 May 898.75 903.75 July 911.50 917.00 897.25 902.00 3.25 267,825 3.50 261,722 910.25 W 7167 0042 255 7117 7171 0042 312 Soybean Meal (CBT)-100 tons; por ton 309.10 311.00 May July 312.80 314.70 310.10 1.00 142,987 308.50 312.20 313.80 Swiss Franc (CME) CHF 125,500 $ par CHF June 1.0067 1.0075 1.0030 Sept 1.0122 1.0130 1.0117 Australian Dollar (CME)-AUD 100,000 $ per AUD Aprill 7116 .7164 .7116 May 7127 .7179 June 7133 7185 Sept Dec March 20 7163 Mexican Peso (CME)-MXN 500,000: $ per MXN Apri 05272 05272 June 05226 05259 7120 7176 0042 144.937 1.00 149,225 7146 7196 7140 7189 0041 670 Soybean O (CBT)-60,000 cents per b May .7176 7203 0041 203 29.02 29.11 7176 .7187 7172 7172 ww 03 127,952 03 158,428 29.31 7216 0041 July 73 29:41 Rough Rice (CBT)-2000 cw: $ per cwb. May 28.81 29.07 29.12 29.38 1021.50 1023.50 -5.50 5,281 1042.00 1048.50 -2.50 2,162 1032.00 1041.50 06272 05222 05303 00026 05251 00026 39 234,619 July 1059.00 1061.50 Wheat (CBT)-5000 bu; cents per bu May July 459.00 461.75 455.50 458.00 -1.50 158,124 Euro (CME) 125,000; $ por C April 1.1271 1.1292 June 1.1328 1.1360 46375 464.75 463.75 293-76 460.00 461.50 -2.50 171,832 1.1241 1.1294 1.1276 0003 0003 2,387 478,245 Wheat (KC)-5000 bu: cents per bu May 426.75 430.00 433.50 436.25 424.50 426.25 -1.25 117,401 431.50 432.75 -2.25 125,262 July Index Futures Wheat (MPLS)-5000 bu; cents per bu 523.00 533.50 26107 26166 78612 May July 531.00 541.25 523.00 530.25 7.25 21,552 531.00 537.00 5.75 21,816 ED Cattle Feeder ( der (CME) 50.000 lbs; cants par It 145.850 145.925 2883.00 2894.50 11.90 28,438 Am 145.00 145.175 -975 3,781 156.450 157.025 -575 18,169 Aug 600 157.750 157.600 Cattle-Live (CME)-40.000 bs; cents per Ib April 125.825 126.325 120.150 120.350 2878.00 2894.50 12.00 2,531,776 19.300 2883.50 2899.50 12.00 -025 125.375 125.875 23,376 119.600 119.950 -400 198,207 June www Mini DJ Industrial Average (CBT)-$5x index June 26144 26233 S&P 500 Index (CME)-$250x Index June 2883.00 2895.50 A Mini S&P 500 (CME)-$50x Index June 2882.00 2895.75 Sept 2887.75 2901.00 Mini S&P Midcap 400 (CME)-$100 x Index June 1932.20 1951.50 Mini Nasdaq 100 (CME)-$20 x Index June 7590.5 7646.0 A 7575.8 7641.3 48.0 Mini Russell 2000 (ICE-US)-$100 x Index June 1564.50 1586.00 Mini Russell 1000 CE-US-$100x Index June 1599.70 1603.40 1929.00 1949.40 18.30 Hogs-Lean (CME)-40,000 lbs.; cents per b Apri 78.750 79.125 June 94.000 97.325 78.675 78.900 375 13,520 93525 96.450 1.300 82,006 Lumber (CME)-110,000 bd.ft. $ por 1,000 bd. ft. 342.30 May 336.00 344.80 342.40 1,880 July 346.30 348.10 340.80 345.00 1,016 63,577 200,115 435,857 2.40 .70 1562.10 1585.80 21.10 Milk (CME)- 200,000 lbs: cents per Ib. Apri 15.99 A 15.94 15.96 A 15.87 15.97 15.84 15.92 15.34 02 07 8,979 3.396 3,878 May Cocoa (ICE-US)-10 metrictons, $ per ton. 150840 1603.00 6.30 96.56 -.05 May 96.84 US Dollar Index (ICE-US)-$1,000x Index 95.60 June 21,910 88,143 49.480 2.439 96.41 May 2,449 av 2421 2.443 2.399 2.423 July 2418 2,425 5 Coffee (ICE-US)-37.500 lbs: cents per b 93.10 93.75 94.50 96.20 96.95 94.25 96.75 .60 90,442 45 115,156 03 230,257 July Sugar World CE-US)-112,000 s cents per . May 12.78 1283 July 12.90 12.99 Sugar-Domestic (CE-US)-112,000 lbs; cents per b July 26.99 27.00 26.65 26.96 12.70 12.81 12.84 12.98 08 299,402 27.00 2,759 2,456 Sept 26.65 27.10 44 9.30 9.60 0.033 16 0.033 117,796 0.63 280,173 0.69 321,402 0.76 189,217 0.82 154,891 0.84 199,537 0.56 118,733 0427 90,825 0412 79,735 0702 108,354 0598 103,754 001 187,831 003 167,629 003 125.844 001 71,485 April 144.545 Aine FIGURE 14.1 Futures Prices (April 10, 2019) Futures Contracts | WSJ.com/commodities Metal & Petroleum Futures Contract Open Open Open High hilo Low Settle Chg Interest Contract High hilo Low Settle Chg Interest Copper-High (CMX)-25,000 lbs.; $ per lb. Open Cotton CE-US)-50,000 lbs: cents per lb. May 78.18 78.35 July 78.73 78.84 2.9225 -0.0090 1,264 29255 -0.0085 92,345 77.62 -47 51,151 77.32 78.09 78.46 -01 April May 2.9325 29425 Gold (CMX)-100 broy oz: $ per troy oz 1304.00 1304.00 1306.20 1314.70 1314.50 1320.70 1326.50 1332.20 1329.90 1337.90 1337.30 1343.10 29110 1301.50 1309.10 1304.70 1313.90 1311.00 1319.90 132280 1331.90 1329.90 1337.90 1334.80 1343.60 Orange Juice (ICE-US)-15,000 lbs; cents per lb. May July June 81,051 10,496 7,078 108.90 109.80 108.20 11370 114.35 111.85 108.60 -80 112.20 -1.95 Au Aug 5.60 325 5.60 331,311 5.60 50,769 5.60 36,000 5.50 11,597 5.50 6,985 Dec Feb 20 Interest Rate Futures Apr Palladium (NYM)-50 troy oz: $ per troy oz. 148-070 7.0 941,582 Apr 1366.40 0.60 June 136260 1371.50 1355.00 1363.20 0.60 Sept 1.40 p Treasury Bonds (CBT) $100,000; pts 32nds of 100% June 147-280 148-170 147-230 Treasury Notes (CBT)-$100,000; pts 32nds of 100% June 123-190 123-295 123-305 124-040 1 19,677 2,205 1356.40 1361.70 1349.20 1356.80 123-170 123-255 123-270 124015 Sept 5.0 3.920,906 G.O 2,121 Platinum (NYM)-50 troy oz: $ per troy oz. Apr 900.00 900.00 900.00 903.20 5 Y. Treasury Notes (CBT)-$100,000: pts 32nds of 100% July 896.10 912.80 890.50 908.90 June 69,409 Silver (CMX)-5.000 troy oz: $ per troy oz. 115-160 115-230 115-220 115-252 3.5 4.272.721 4.0 41,922 Sept 115-147 115-202 115-202 115-240 April 15.170 15.205 15.095 15.201 15.115 15.244 May 15.185 15.265 2 Yr. Treasury Notes (CBT) $200,000; pts 32nds of 100% June 106-123 106-147 106-122 106-136 1.0 3,407,265 Crude Of Light Sw Sweet (NYM)-1000 bols: $ per bbt. May 64.22 64.70 30 Day Federal Funds (CBT)-$5,000,000;100-dally avg. 97.590 97.593 97.600 97.600 June 64.20 64.05 64.61 64.65 64.67 64.71 A 64.01 97.590 97.590-002 222,888 97.595 97.595-005 264,957 July 64.12 64.69 A 63.93 Sept 63.72 64.40 A 63.55 Dec 63.47 A May 10 Yt.Del. Int. Rate Swaps (CET) $100,000; pts 32nds of 100% June 104.406 104.797 104.406 104.641 188 1 Month Libor (CME)-$1300,000; pts of 100% 62.57 63.46 19.922 De 62.73 56 72 58.73 Dec 20 59.9 58.68 59.29 59.28 sen NY Harbor ULSD (NYM)-42.000 g; $ per gal 97.5225 15 May wz June Gasoline-NY S RBOB (NYM)-42,000 gal: $ per gal 20510 20897 A 2.0488 2.0876 20575 20910 A 2.0520 2.0092 20105 2.0692 15000 1.9806 2.0297 My Eurodollar (CME)-$1000,000; pts of 100% 97.4275 97.4275 97.4450 97.4550 97.4850 97.5050 97.5050 97.5350 20105 20702 A June Sept Dec 97.4100 97.4175-0125 225,824 97.4400 97.4450-0050 1.450.756 97.4850 97.4950 1.385,215 97.5050 97.5200 0050 1,653,693 June 2002 2.0307 A 2007 1.9850 Natural Gas (NYM)-10,000 M May 10,000 MMBtu: $ per MMB 2.706 2.729 2686 2.700 W 57% June 2.749 2.768 2726 2.742 Currency Futures July 2.805 2.824 2786 2.801 Aug 2832 2.849 2813 2.827 Japanese Yen (CME)-12,500,000; $ per 100 .8998 .5016 9047 9070 2.808 2.821 90150010 9059 0009 Sope Oct 8992 9034 2827 2.843 2.849 2.861 2,490 161,102 2.829 2.842 001 95,014 Agriculture Futures Canadian Dollar (CME)-CAD 1000,000; $ per CAD April 7508 7505 June .7528 .7497 7508 7507 7518-0001 7514 1,031 141631 Com (CBT) 5,000 bu; cents per bu 360 25 362.75 360.00 British Pound (CME)-62,500 $ per 361.75 1.75 553,142 2.25 556,095 July 368.75 371.75 368.75 370.75 1.3054 1.3118 April June 1.3052 1.3093 1.3087 0041 1.3128 0041 815 139,407 Oats (CBT)-5,000 bu; cents per bu 1.3097 1.3165 May autv 282.00 282.00 274.25 274.75 277.00 279.00 3,102 269.75 272.75 -1.00 1,875 July Soub 74,074 1.0038-0031 1.0123 -0032 48 Soybeans (CBT)-5,000 bu; cents per bu 75 May 898.75 903.75 July 911.50 917.00 897.25 902.00 3.25 267,825 3.50 261,722 910.25 W 7167 0042 255 7117 7171 0042 312 Soybean Meal (CBT)-100 tons; por ton 309.10 311.00 May July 312.80 314.70 310.10 1.00 142,987 308.50 312.20 313.80 Swiss Franc (CME) CHF 125,500 $ par CHF June 1.0067 1.0075 1.0030 Sept 1.0122 1.0130 1.0117 Australian Dollar (CME)-AUD 100,000 $ per AUD Aprill 7116 .7164 .7116 May 7127 .7179 June 7133 7185 Sept Dec March 20 7163 Mexican Peso (CME)-MXN 500,000: $ per MXN Apri 05272 05272 June 05226 05259 7120 7176 0042 144.937 1.00 149,225 7146 7196 7140 7189 0041 670 Soybean O (CBT)-60,000 cents per b May .7176 7203 0041 203 29.02 29.11 7176 .7187 7172 7172 ww 03 127,952 03 158,428 29.31 7216 0041 July 73 29:41 Rough Rice (CBT)-2000 cw: $ per cwb. May 28.81 29.07 29.12 29.38 1021.50 1023.50 -5.50 5,281 1042.00 1048.50 -2.50 2,162 1032.00 1041.50 06272 05222 05303 00026 05251 00026 39 234,619 July 1059.00 1061.50 Wheat (CBT)-5000 bu; cents per bu May July 459.00 461.75 455.50 458.00 -1.50 158,124 Euro (CME) 125,000; $ por C April 1.1271 1.1292 June 1.1328 1.1360 46375 464.75 463.75 293-76 460.00 461.50 -2.50 171,832 1.1241 1.1294 1.1276 0003 0003 2,387 478,245 Wheat (KC)-5000 bu: cents per bu May 426.75 430.00 433.50 436.25 424.50 426.25 -1.25 117,401 431.50 432.75 -2.25 125,262 July Index Futures Wheat (MPLS)-5000 bu; cents per bu 523.00 533.50 26107 26166 78612 May July 531.00 541.25 523.00 530.25 7.25 21,552 531.00 537.00 5.75 21,816 ED Cattle Feeder ( der (CME) 50.000 lbs; cants par It 145.850 145.925 2883.00 2894.50 11.90 28,438 Am 145.00 145.175 -975 3,781 156.450 157.025 -575 18,169 Aug 600 157.750 157.600 Cattle-Live (CME)-40.000 bs; cents per Ib April 125.825 126.325 120.150 120.350 2878.00 2894.50 12.00 2,531,776 19.300 2883.50 2899.50 12.00 -025 125.375 125.875 23,376 119.600 119.950 -400 198,207 June www Mini DJ Industrial Average (CBT)-$5x index June 26144 26233 S&P 500 Index (CME)-$250x Index June 2883.00 2895.50 A Mini S&P 500 (CME)-$50x Index June 2882.00 2895.75 Sept 2887.75 2901.00 Mini S&P Midcap 400 (CME)-$100 x Index June 1932.20 1951.50 Mini Nasdaq 100 (CME)-$20 x Index June 7590.5 7646.0 A 7575.8 7641.3 48.0 Mini Russell 2000 (ICE-US)-$100 x Index June 1564.50 1586.00 Mini Russell 1000 CE-US-$100x Index June 1599.70 1603.40 1929.00 1949.40 18.30 Hogs-Lean (CME)-40,000 lbs.; cents per b Apri 78.750 79.125 June 94.000 97.325 78.675 78.900 375 13,520 93525 96.450 1.300 82,006 Lumber (CME)-110,000 bd.ft. $ por 1,000 bd. ft. 342.30 May 336.00 344.80 342.40 1,880 July 346.30 348.10 340.80 345.00 1,016 63,577 200,115 435,857 2.40 .70 1562.10 1585.80 21.10 Milk (CME)- 200,000 lbs: cents per Ib. Apri 15.99 A 15.94 15.96 A 15.87 15.97 15.84 15.92 15.34 02 07 8,979 3.396 3,878 May Cocoa (ICE-US)-10 metrictons, $ per ton. 150840 1603.00 6.30 96.56 -.05 May 96.84 US Dollar Index (ICE-US)-$1,000x Index 95.60 June 21,910 88,143 49.480 2.439 96.41 May 2,449 av 2421 2.443 2.399 2.423 July 2418 2,425 5 Coffee (ICE-US)-37.500 lbs: cents per b 93.10 93.75 94.50 96.20 96.95 94.25 96.75 .60 90,442 45 115,156 03 230,257 July Sugar World CE-US)-112,000 s cents per . May 12.78 1283 July 12.90 12.99 Sugar-Domestic (CE-US)-112,000 lbs; cents per b July 26.99 27.00 26.65 26.96 12.70 12.81 12.84 12.98 08 299,402 27.00 2,759 2,456 Sept 26.65 27.10 44 9.30 9.60 0.033 16 0.033 117,796 0.63 280,173 0.69 321,402 0.76 189,217 0.82 154,891 0.84 199,537 0.56 118,733 0427 90,825 0412 79,735 0702 108,354 0598 103,754 001 187,831 003 167,629 003 125.844 001 71,485 April 144.545 Aine
