CME Wheat futures have a daily price limit of 5%. Assume a war breaks out in...

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CME Wheat futures have a daily price limit of 5%. Assume a war breaks out in Eastern Europe, in which Russia invades Ukraine causing grain prices to skyrocket and spot wheat to go up 40% in one day (on the day of the invasion, right after it occurs). Assume the spot price of wheat just before the start of the war was $800/bushel. The front-month futures price of wheat just before the start of the war was $820/bushel. At what price can we relatively safely infer the front-month futures price of wheat opened at on the day after war broke out, based on the above information? O $800/bushel O $820/bushel O $840/bushel O $861/bushel O $1,120/bushel O $1,148/bushel O Indeterminate CME Wheat futures have a daily price limit of 5%. Assume a war breaks out in Eastern Europe, in which Russia invades Ukraine causing grain prices to skyrocket and spot wheat to go up 40% in one day (on the day of the invasion, right after it occurs). Assume the spot price of wheat just before the start of the war was $800/bushel. The front-month futures price of wheat just before the start of the war was $820/bushel. At what price can we relatively safely infer the front-month futures price of wheat opened at on the day after war broke out, based on the above information? O $800/bushel O $820/bushel O $840/bushel O $861/bushel O $1,120/bushel O $1,148/bushel O Indeterminate

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