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You are long 20 soybean futures contracts and each contract is based on delivery of 5,000 bushels. Calculate the dollar profit or loss from the

You are long 20 soybean futures contracts and each contract is based on delivery of 5,000 bushels. Calculate the dollar profit or loss from the trading day given you bought the futures contracts at the open price of 1042 cents per bushel and sold at the days settle price of 1044.50 cents per bushel.

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