What is the closing value of one December futures contract on wheat?
$\begin{array}{llll}
&\text { Contact } & \text { Open } & \text {High} & \text { Low}& \text { Close}\
\text { Dec. Corn. }&\text { 5,000 bu, cents/bu } & 620.50 & 623.50 & 613.00 & 617.00\
\text { Dec. Wheat, }&\text { 5,000 bu, cents/bu } &750,00 &766.00 &745.00 & 752,00
\end{array}$

A)$3.76
B)$376.00
C)$37,600
D)$376,000
E)$3,760,000

Question

What is the closing value of one December futures contract on wheat?
$\begin{array}{llll}
&\text { Contact } & \text { Open } & \text {High} & \text {  Low}& \text { Close}\
\text { Dec. Corn. }&\text { 5,000 bu, cents/bu } & 620.50 & 623.50 & 613.00 & 617.00\
\text { Dec. Wheat, }&\text { 5,000 bu, cents/bu } &750,00 &766.00 &745.00 & 752,00
\end{array}$

A)$3.76
B)$376.00
C)$37,600
D)$376,000
E)$3,760,000

Quizplus · Accepted Answer

The closing value of one December futures contract on wheat is calculated by multiplying the closing price (752 cents or $7.52 per bushel) by the contract size (5,000 bushels). Therefore, $7.52 * 5,000 = $37,600.

What Is the Closing Value of One December Futures Contract