Author Question: You have a long position in one corn futures contract. Each futures contract calls for the delivery ... (Read 329 times)

MGLQZ · **on:** Apr 25, 2021

You have a long position in one corn futures contract. Each futures contract calls for the delivery of 5,000 bushels of No. 2 corn. The initial margin was $2,500 and the maintenance margin is $1,250. At the close of trading yesterday, the futures price was $5.23 per bushel and the balance in your margin account was $3,250. Today, the settlement price for corn futures is $4.78. What is the balance in your account at the end of today's trading? Assume that you made the minimum deposit necessary if there was a margin call.
◦ $1,000
◦ $1,250
◦ $1,500
◦ $2,500

fatboyy09 · **Reply #1 on:** Apr 25, 2021

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