Use the following corn futures quotes: Contract Month Mar May July Sep Corn 5,000 bushels...
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Use the following corn futures quotes: Contract Month Mar May July Sep Corn 5,000 bushels Open High Low Settle 455.125 457.000 451.750 452.000 467.000 468.000 463.000 463.250 477.000 477.500 472.500 473.000 475.000 475.500 471.750 472.250 Chg Open Int -2.750 597,913 -2.750 137,547 -2.000 153, 164 -2.000 29,258 Suppose you buy 19 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.625, and you close out your position. Calculate your dollar profit on this investment. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Dollar profit
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