Figure 3
   |------------------------------------------------------------------------------------------------------------------|
   |                     Open Interest--Large Hedgers, Speculators and Small Traders                                  |
   |                      Positions Shown in Percent (Rounded) as of JUNE 30, 1979                                    |
   |------------------------------------------------------------------------------------------------------------------|
   |                                                                                                                  |
   |   MARKETS                 LARGE HEDGERS              LARGE SPECULATORS                  SMALL TRADERS            |
   |------------------------------------------------------------------------------------------------------------------|
   |                    |---------------------------------------------------------------------------------------------|
   |                    |   LONG| SHORT | NET  | ▵ |LONG | SHORT |  NET   |▵ |LONG  |SHORT  | NET  | ▵ |
   |--------------------|-------|-------|------|--------|-----|-------|--------|-------|------|-------|------|--------|
   | Soybeans           |    28 |  45   | -17  | - 6    | 12  |    2  |  +10   | + 5   |  37  |   31  | + 6  | - 1    |
   |--------------------|-------|-------|------|--------|-----|-------|--------|-------|------|-------|------|--------|
   | Soybean Meal       |    27 |  58   | -31  | - 7    | 15  |    1  |  +15   | + 6   |  40  |   23  | +17  | + 2    |
   |--------------------|-------|-------|------|--------|-----|-------|--------|-------|------|-------|------|--------|
   | Soybean Oil        |    32 |  58   | -26  | - 7    | 10  |    4  |  + 6   | + 2   |  34  |   15  | +19  | + 5    |
   |--------------------|-------|-------|------|--------|-----|-------|--------|-------|------|-------|------|--------|
                                    ▵ CHANGE IN % NET FROM PREVIOUS MONTH