The contract face value of the U.S. 30-year Treasury Bond futures is US$100,000, with 1 point representing US$1,000, and the minimum price change is 1/32 points, or US$31.25.

The price here 99-02 does not mean 99.02, but means 99-2/32. In fractional terms, it is "99 and 2/32", which is 99.0625 (points); and 98 -16 means 98-16/32, which means "98 and 16/32", which is 98.5 (points).

Because this investor is selling, the profit is 99.0625-98.5=0.5625 (points)

Each point is 1,000 US dollars, which is equivalent to a profit of 0.5625*1000=562.50 US dollars

The friend upstairs seems to be a bit uninitiated. CBOT is the abbreviation of the Chicago Board of Trade, and it is not a futures type. CBOT not only trades agricultural products, but also trades financial derivatives such as treasury bonds, stock indexes, gold and silver, and options.