You go short the soybean market 2 contracts on March 1 at a price of $11.58, on May 15 you offset for $11.47. Did you make or lose money and how much? You go long the corn market 5 contracts on Dec 1 at a price of $3.96, on March 15 you offset for $3.85. Did you make or lose money and how much?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter2: Building Blocks Of Managerial Accounting
Section: Chapter Questions
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You go short the soybean market 2 contracts on March 1 at a price of $11.58, on May 15 you offset for $11.47. Did you make or lose money and how much? You go long the corn market 5 contracts on Dec 1 at a price of $3.96, on March 15 you offset for $3.85. Did you make or lose money and how much?
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