In August, Rex sold a futures contract on corn at $3.20 per bushel. The contract had a November expiration date. At expiration, corn was selling at $3.05 per bushel. What profit/loss did Rex experience on the contract? Assume Rex had no other position in corn.

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The Answer of In August, Rex sold a futures contract on corn at $3.20 per bushel. The contract had a November expiration date. At expiration, corn was selling at $3.05 per bushel. What profit/loss did Rex experience on the contract? Assume Rex had no other position in corn.

In August, Rex Sold a Futures Contract on Corn at $3.20