The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGCO CORP COM 001084102 660 11,970 SH   SOLE   11,970 0 0
AGRIUM INC COM 008916108 2,430 24,920 SH   SOLE   24,920 0 0
ANDERSONS INC COM 034164103 1,006 16,990 SH   SOLE   16,990 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 2,001 46,120 SH   SOLE   46,120 0 0
BAIDU INC SPON ADR REP A 056752108 10,140 66,590 SH   SOLE   66,590 0 0
BALTIC TRADING LIMITED COM Y0553W103 1,651 261,600 SH   SOLE   261,600 0 0
BRF SA SPONSORED ADR 10552T107 1,757 87,960 SH   SOLE   87,960 0 0
BUNGE LIMITED COM G16962105 1,832 23,040 SH   SOLE   23,040 0 0
CF INDS HLDGS INC COM 125269100 2,531 9,710 SH   SOLE   9,710 0 0
CNH INDL N V SHS N20944109 553 48,119 SH   SOLE   48,119 0 0
COSAN LTD SHS A G25343107 611 53,600 SH   SOLE   53,600 0 0
DARLING INTL INC COM 237266101 621 31,000 SH   SOLE   31,000 0 0
DEERE & CO COM 244199105 974 10,730 SH   SOLE   10,730 0 0
DIANA SHIPPING INC COM Y2066G104 2,971 247,800 SH   SOLE   247,800 0 0
DOW CHEM CO COM 260543103 5,844 119,640 SH   SOLE   119,640 0 0
DRYSHIPS INC SHS Y2109Q101 2,718 841,400 SH   SOLE   841,400 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 5,903 87,980 SH   SOLE   87,980 0 0
EASTMAN CHEM CO COM 277432100 5,989 69,470 SH   SOLE   69,470 0 0
F M C CORP COM NEW 302491303 1,876 24,500 SH   SOLE   24,500 0 0
GENERAL MLS INC COM 370334104 1,006 19,420 SH   SOLE   19,420 0 0
GOOGLE INC CL A 38259P508 3,522 3,160 SH   SOLE   3,160 0 0
GREEN PLAINS RENEWABLE ENERG COM 393222104 1,210 40,390 SH   SOLE   40,390 0 0
HAIN CELESTIAL GROUP INC COM 405217100 229 2,500 SH   SOLE   2,500 0 0
HORMEL FOODS CORP COM 440452100 1,860 37,760 SH   SOLE   37,760 0 0
ISHARES MSCI BRZ CAP ETF 464286400 655 14,550 SH   SOLE   14,550 0 0
KRAFT FOODS GROUP INC COM 50076Q106 899 16,020 SH   SOLE   16,020 0 0
LINDSAY CORP COM 535555106 841 9,540 SH   SOLE   9,540 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 5,791 65,110 SH   SOLE   65,110 0 0
MONDELEZ INTL INC CL A 609207105 1,922 55,620 SH   SOLE   55,620 0 0
MONSANTO CO NEW COM 61166W101 2,985 26,240 SH   SOLE   26,240 0 0
MOSAIC CO NEW COM 61945C103 2,465 49,290 SH   SOLE   49,290 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 3,165 321,300 SH   SOLE   321,300 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 692 33,100 SH   SOLE   33,100 0 0
POTASH CORP SASK INC COM 73755L107 3,079 85,020 SH   SOLE   85,020 0 0
QIAGEN NV REG SHS N72482107 3,341 158,400 SH   SOLE   158,400 0 0
RENTECH NITROGEN PARTNERS L COM UNIT 760113100 899 48,330 SH   SOLE   48,330 0 0
SAFE BULKERS INC COM Y7388L103 1,445 151,800 SH   SOLE   151,800 0 0
SANDERSON FARMS INC COM 800013104 665 8,470 SH   SOLE   8,470 0 0
SCOTTS MIRACLE GRO CO CL A 810186106 619 10,100 SH   SOLE   10,100 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 1,976 41,800 SH   SOLE   41,800 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,152 19,700 SH   SOLE   19,700 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 2,700 62,700 SH   SOLE   62,700 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 1,010 15,600 SH   SOLE   15,600 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,923 21,590 SH   SOLE   21,590 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,986 88,900 SH   SOLE   88,900 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 2,177 41,600 SH   SOLE   41,600 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 2,308 63,500 SH   SOLE   63,500 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 3,190 76,950 SH   SOLE   76,950 0 0
SENSIENT TECHNOLOGIES CORP COM 81725T100 1,271 22,530 SH   SOLE   22,530 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105 8,706 274,280 SH   SOLE   274,280 0 0
SYSCO CORP COM 871829107 954 26,400 SH   SOLE   26,400 0 0
TORO CO COM 891092108 604 9,560 SH   SOLE   9,560 0 0
TRACTOR SUPPLY CO COM 892356106 607 8,600 SH   SOLE   8,600 0 0
TYSON FOODS INC CL A 902494103 583 13,250 SH   SOLE   13,250 0 0
VEECO INSTRS INC DEL COM 922417100 3,761 89,700 SH   SOLE   89,700 0 0
YAHOO INC COM 984332106 3,337 92,960 SH   SOLE   92,960 0 0
YUM BRANDS INC COM 988498101 1,312 17,400 SH   SOLE   17,400 0 0