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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Definitions:

Short-Term Advantage

A temporary benefit that gives a business a competitive edge over its rivals in the immediate term.

Resource-Based View

A perspective in strategic management that emphasizes the importance of a firm's resources and capabilities to gain and sustain competitive advantage.

Sustainable Competitive Advantages

Refers to the unique attributes or qualities that a company possesses which allow it to outperform its competitors over a long period.

Profitability Ratios

Financial metrics used to evaluate a company's ability to generate earnings as compared to its expenses and other relevant costs.