Futures HW #1.docx - Homework#1 1 The code number for...

This preview shows page 1 out of 1 page.

Homework #1 1. The code number for Strict Middling Light Spotted is 22. 2. The bale capacity for warehouse #794510 is 123,300 Insured Warehouse Receipts (IWR). 3. The discount for over- age cotton per month for the 11 th to 16 th month is 25lbs, 29lbs, 33lbs, 37lbs, 41lbs, and 45lbs., respectively. 4. The acceptable MIC (micron) range for deliverable cotton is no less than 3.5 and no more than 4.9. 5. The confirmation letter for delayed certification of cotton is sent to the ICE Exchange and USDA Classing Office to the attention of Valerie Colaizzo. 6. According to rule 5.06, the range of deliverable bales is 92 bales to 108 bales. 7. The owner or owners at the time the damage occurs bears all expenses incurred. 8. The compression standard for bales deliverable is that they are only Gin- Universal compressed bales. 9. The penalty for any Nonconforming Delivery Point is $500 per contract. 10. The Memphis Delivery Point includes all areas within a 15-mile radius from the
Image of page 1
  • Spring '13
  • Rentlzer
  • Penalty, deliverable bales, Insured Warehouse Receipts, Strict Middling Light, USDA Classing Office

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern