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Soybean futures contracts are quoted in cents per bushel. Thereare 5,000 bushels per contract. The...

Soybean futures contracts are quoted in cents per bushel. There are 5,000 bushels per contract. The price lit or circuit breaker for soybeans is 60 cents. The quote for Sep. 2021 is 989'6. The prior settle was 986'4. What is the upper and lower limits for trading this contract today?

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Expert Solution

The upper limit = The prior settle + 60 cents

The upper limit = 986.4 + 60 cents

The upper limit = 987.0

The lower limit = 986.4 - 60 cents

The lower limit = 985.8

jeff jeffy answered 2 years ago
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