You hold one long corn futures contract that expires in April.To close your position in corn futures before the delivery date you must

Question

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To close a long position in corn futures before the delivery date, you must sell one April corn futures contract. Buying a May corn futures contract or buying multiple April contracts would only add to your position, not close it. Selling a May contract would not offset the long position in the April contract.

You Hold One Long Corn Futures Contract That Expires in April.To