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FIN 3510-Use the following corn futures quotes

Author:
June 7th, 2024

Use the following corn futures quotes: Corn 5,000 bushels Contract MonthOpenHighLowSettleChgOpen Int Mar455.125457.000451.750452.000−2.750597,913 May467.000468.000463.000463.250−2.750137,547 July477.000477.500472.500473.000−2.000153,164 Sep475.000475.500471.750472.250−2.00029,258 Suppose you sell 21 of the May corn futures at the high price of the day. You close your position later when the price is 466.375. Ignoring commission, what is your dollar profit on this transaction?

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