You anticipate your firm will need 20,000 bushels of oats in December so you hedged your position today at the closing price when the daily price quotes were: Open 222, High 225.50, Low 223.50, and Settle 218.50. Assume the actual market quote turns out to be 228.70 on the day you actually acquire the oats. Oats futures contracts are based on 5,000 bushels and priced in cents per bushel. What was your gain or loss from hedging your position

Clara client has just been presented with a standard representation agreement by the law firm of yatz & berger. clara's first language is german. although she speaks and reads everyday english quite well, the legal terms in the contract confuse her. yatz & berger should question 90 options: have someone in the firm, if possible, or a translator from outside of the firm, explain the terms of the contract thoroughly until clara has a full and complete understanding of its terms. advise clara to take the contract home and study it before signing it. have a paralegal explain the most important clauses in the contract to clara in smaller, plain english words. advise clara to sign the contract and take her copy home for study.