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Explain how the clearinghouse would record the following:Mr. A buys a September wheat futures contract from Ms. B for $4.00/bu. on July 20.Mr. D buys a September wheat futures contract from Mr. E for $3.95 on July 25.Ms. B buys a September wheat futures contract from Mr. D for $4.01 on July 30.Mr. E buys a September wheat futures contract from Mr. A for$4.06 on August 3.Show the clearinghouse’s payments and receipts needed to closeeach position.
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