| Description |
Steps:
# Basis Contract 866 with .25 / bushel basis
# Scale 1490 for 10 metric tons
# Attempt to do an 80% advance using $230 / metric ton futures price
The charge and Amount to Advance numbers appear to be incorrect. See image below (Excel file attached)
It would appear that the Discount, Charge and Tax amounts are being *added* to the gross settlement when they should be *subtracted* .
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