A Futures Contract Calls for Delivery of 60,000 Pounds of Soybean

question 63

Multiple Choice

A futures contract calls for delivery of 60,000 pounds of soybean oil.What happens to the seller of a soybean oil futures contract at 41 cents per pound if the futures price closes the next day at 42 cents per pound?

• A) The contract is marked to market with a $600 loss.
• B) The contract is marked to market with a $600 gain.
• C) Futures contracts are voided if the price increases prior to expiration.
• D) Nothing happens until the expiration of the contract.

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