Contract		Open	High	Low	Close
Jan, Soybean, 5,000 bu, cents/bu		814.33	826.71	804.99	815.72
Jan, Soybean Oil, 60,000 lbs, cents/lb		119.27	141.66	95.36	120.75

What is the value of your position if you purchase 10 January futures contracts on Soybean Oil at the low?

Answer should be formatted as a number with 0 decimal places (e.g. 999).

Contract		Open	High	Low	Close
Nov, Heating Oil, 42,000 gal, $ and cents/gal		4.69	6.89	3.75	5.95
Nov, Crude oil, 1,000 bbls. $ and cents/bbl		129.26	135.75	112.01	118.57

You take a short position in 10 contracts of crude oil at a price of 123.88. At the end of the day, you close your position. What is your profit or loss?

Answer should be formatted as a number with 2 decimal places (e.g. 99.99).

Contract		Open	High	Low	Close
Jan, Corn, 5,000 bu, cents/bu		700.65	828.73	661.66	789.78
Jan, Wheat, 5,000 bu, cents/bu		471.7	530.05	403.21	466.71

You take a short position in 27 contracts of January wheat futures contracts at the price of 446.72 with a margin of 4.99 percent. You close your position at the closing price. What is your return?

Answer should be formatted as a number with 0 decimal places (e.g. 999).

Contract		Open	High	Low	Close
Mar, Corn, 5,000 bu, cents/bu		651.72	771.89	612.41	746.39
Mar, Soybean, 5,000 lbs, cents/lb		455.15	545.06	410.75	506.53

You need to purchase 160,000 pounds of soybeans and want to hedge the value against future price changes. Using today's closing price, what is the dollar value of the contracts used to hedge your position (use a positive number for a long hedge and a negative number for a short hedge).

Answer should be formatted as a number with 0 decimal places (e.g. 999).

Contract		Open	High	Low	Close
Nov, Heating Oil, 42,000 gal, $ and cents/gal		8.3	14.5	7.79	11.85
Nov, Crude Oil, 1,000 bbls. $ and cents/bbl		17.82	21.99	13.27	17.76

You purchase 13 contracts of November heating oil at the close. What is the dollar amount of your margin requirement if the margin rate on heating oil is 4.74 percent?

Answer should be formatted as a number with 0 decimal places (e.g. 999).

Answer rating: 100% (QA)

Okay here are the workings for each question 1 You purchase 10 January futures contracts on Soybean ... View the full answer