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<blockquote data-quote="bannedagain" data-source="post: 791505" data-attributes="member: 14590"><p><a href="http://www.cmegroup.com/trading/agricultural/grain-and-oilseed/corn_contract_specifications.html" target="_blank">http://www.cmegroup.com/trading/agricul ... tions.html</a></p><p></p><p> Have them reread that to you. You still are not grasping the concept. May 11 corn closed at 555, that is 555 cents per bushel, a contract is 5000 bushels not 100. The market Friday closed down 30. (thats 30 cents, the pricing unit for a corn futures contract is cents per bushel) A corn futures contract was worth $1500 less at the close Friday than it was worth at the open Friday.</p><p></p><p> The trading board for corn is NOT quoted in 100 bushel units. It is quoted in cents per bushel.</p></blockquote><p></p>
[QUOTE="bannedagain, post: 791505, member: 14590"] [url=http://www.cmegroup.com/trading/agricultural/grain-and-oilseed/corn_contract_specifications.html]http://www.cmegroup.com/trading/agricul ... tions.html[/url] Have them reread that to you. You still are not grasping the concept. May 11 corn closed at 555, that is 555 cents per bushel, a contract is 5000 bushels not 100. The market Friday closed down 30. (thats 30 cents, the pricing unit for a corn futures contract is cents per bushel) A corn futures contract was worth $1500 less at the close Friday than it was worth at the open Friday. The trading board for corn is NOT quoted in 100 bushel units. It is quoted in cents per bushel. [/QUOTE]
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