Use the Following Soybean Futures Quotes to Answer This Question

question 22

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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Julie was lucky enough to purchase three September 08 futures contracts on soybeans when the contracts were at the lowest price of the day. What is Julie's total profit or loss as of the end of the day?

• A)$25.00
• B)$50.00
• C)$75.00
• D)$250.00
• E)$260.00

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