Use the following corn futures quotes:   Corn 5,000 bushels Contract Month Open High Low Settle Chg Open Int Mar 455.125 457.000 451.750 452.000 −2.750 597,913 May 467.000 468.000 463.000 463.250 −2.750 137,547 July 477.000 477.500 472.500 473.000 −2.000 153,164 Sep 475.000 475.500 471.750 472.250 −2.000 29,258     How many of the September contracts are currently open? How many of these contracts should you sell if you wish to deliver 75,000 bushels of corn in September? If you make delivery, how much will you receive? Assume you locked in the settlement price.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Use the following corn futures quotes:

 

Corn 5,000 bushels

Contract Month

Open

High

Low

Settle

Chg

Open Int

Mar

455.125

457.000

451.750

452.000

−2.750

597,913

May

467.000

468.000

463.000

463.250

−2.750

137,547

July

477.000

477.500

472.500

473.000

−2.000

153,164

Sep

475.000

475.500

471.750

472.250

−2.000

29,258

 

 

  1. How many of the September contracts are currently open?
  2. How many of these contracts should you sell if you wish to deliver 75,000 bushels of corn in September?
  3. If you make delivery, how much will you receive? Assume you locked in the settlement price.
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