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 futures contract position before the delivery date, you need to sell a futures contract of the same commodity and delivery month. In this case, to close the long April corn futures contract, you should sell one April corn futures contract. The other choices involve buying futures contracts, which would open a new position instead of closing the existing one.

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