Use the Following Soybean Futures Quotes to Answer This Question

question 12

Multiple Choice

Use the following soybean futures quotes to answer this question.
Soybeans: 5,000 bushels, cents and 1/8ths of a cent per bushel
$\begin{array}{ccccc} \operatorname{Exp} & \text { Last } & \text { Net Chg } & \text { Open } & \text { High } & \text { Low }& \text { Settle} \\ \text { 08 Sep } & 1314^{\prime}0 & -3^{\prime} 4 & 1340^{\prime} 2 & 1340^{\prime} 6 & 1313^{\prime} 4 &1314^{\prime}0\\\text { 08 Nov } & 1285^{\prime }2 & +4{ }^{\prime}2 & 1306^{\prime}0 & 1312 ^{\prime}2&1280 ^{\prime}0&1285^{\prime}2 \\\end{array}$
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Last week, you purchased four November 08 soybean futures contracts when the price quote was 1300?6. What is your current profit or loss on this investment?

• A)-$3,100.00
• B)-$2,625.00
• C)-$31.00
• D)$987.50
• E)$3,350.00

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Definitions:

Trade

The exchange of goods and services between two or more parties.

Tuscarora War

A conflict between the British, Dutch, and German settlers and the Tuscarora Native Americans in North Carolina during the early 18th century.

Slaving Raids

Expeditions or attacks aimed at capturing individuals to be sold or traded as slaves, a practice common in various parts of the world throughout history.

Colonial Authority

The governing power or administration established in a territory by a colonial power, overseeing its functions, laws, and policies.