April Performance

Substantial loss in the trading program this month, largely driven by the news sensitivity of the agricultural complex as well as the correlation to crude oil.  Price action behavior is deviant from the norm, but the portfolio approach limited volatility and losses compared to the whipsaws seen in agricultural, energy, metal and stock index markets throughout the month.

A total of eight algorithms were live, with seven commodities trading within the month. Uncorrelated algorithms across the agricultural complex helped to smooth out volatility.   

Here are the results of each algorithm for the month:

Algorithm	Monthly Return
Soybeans	3.13%
Lean Hogs	-9.88%
Soybean Oil	-6.73%
Kansas City Wheat	12.09%
Sugar No. 11	-1.82%
Corn	2.69%
Chicago Wheat	-6.71%
Subtotal	-7.3%
Costs (fees and commissions)	-1.35%
Adjustment from unrealized gains March	-1.97%
Total Return	-10.55%