Question
You purchased 18 August 13 futures contracts on soybeans at a price quote of 1,0596. Each contract is for 5,000 bushels with the price quoted
You purchased 18 August 13 futures contracts on soybeans at a price quote of 1,059′6. Each contract is for 5,000 bushels with the price quoted in cents and 1/8 ths of a cent per bushel. Assume the contract price is 1,069′4 when you close out your contract six weeks from now. What will be your total profit or loss on this investment?
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
