Market commentary and/or views contained in this report represent the interpretation and opinion of the author. Such interpretations and opinions are subject to change without notice. Past performance is not necessarily a guide to future performance. Estimates of future performance are based on assumptions that may not be realized. The information contained in this report is taken from sources believed to be reliable, but it is not guaranteed as to the accuracy or completeness thereof and is published in this report for information purposes only, and as such, it is not an offer to buy or sell or a solicitation of any offer to buy or sell any security, commodity or instrument or related derivative or to participate in any trading strategy. Commodity trading involves substantial risk and is not suitable for all investors.