use the following corn futures quotes: Corn 5,000 bushels Open High Low Settle Chg Open Int Mar 455.125 597,913 457.000 451.750 452.000 -2.750 467.000 468.000 463.000 463.250 -2.750 May 137,547 July 477.000 477.500 472.500 473.000 -2.000 153,164 475.000 475.500 471.750 472.250 -2.000 Sep 29,258 Contract Month a. How many of the May contracts are currently open? Contracts b. How many of these contracts should you sell if you wish to deliver 110,000 bushels of corn in May?

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter6: Investing And Financing Activities
Section: Chapter Questions
Problem 3.5C
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Use the following corn tutures quotes:
Contract
Month
Mar
May
July
Sep
a. How many of the May contracts are currently open?
Contracts
Corn 5,000 bushels
Open
High.
Low
Settle
Chg Open Int
455.125 457.000 451.750 452.000 -2.750 597,913
467.000 468.000 463.000 463.250 -2.750 137,547
477.000 477.500 472.500 473.000 -2.000 153,164
475.000 475.500 471.750 472.250 -2.000 29,258
b. How many of these contracts should you sell if you wish to deliver 110,000 bushels of corn in May?
Contracts
c. If you actually make delivery, how much will you receive? Assume you locked in the settle price. (Do not round intermediate
calculations. Round your answer to the nearest whole number.)
Price
(8,775)
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Transcribed Image Text:Use the following corn tutures quotes: Contract Month Mar May July Sep a. How many of the May contracts are currently open? Contracts Corn 5,000 bushels Open High. Low Settle Chg Open Int 455.125 457.000 451.750 452.000 -2.750 597,913 467.000 468.000 463.000 463.250 -2.750 137,547 477.000 477.500 472.500 473.000 -2.000 153,164 475.000 475.500 471.750 472.250 -2.000 29,258 b. How many of these contracts should you sell if you wish to deliver 110,000 bushels of corn in May? Contracts c. If you actually make delivery, how much will you receive? Assume you locked in the settle price. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Price (8,775) < Prev 7 of 14 H Next
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