Figure 2
   --------------------------------------------------------------------------------------------------------
                 COMMITMENTS OF TRADERS-LARGE HEDGERS, SPECULATORS AND SMALL TRADERS
             Open Interest Positions shown In Percent (Rounded) as of September 29, 1989
   --------------------------------------------------------------------------------------------------------
                           LARGE HEDGERS              LARGE SPECULATORS              SMALL TRADERS
   --------------------------------------------------------------------------------------------------------
                     LONG   SHORT   NET  ▵   LONG   SHORT  NET   ▵    LONG   SHORT   NET   ▵
   --------------------------------------------------------------------------------------------------------
    CATTLE(LV)        20      39    -19   -16      21      11   10      14       54      46      8      0
   --------------------------------------------------------------------------------------------------------
    CATTLE(FE)        16      18     -2    -8      21       8   13      12       56      68    -12     -5
   --------------------------------------------------------------------------------------------------------
    COCOA             63      71     -8     0      12      14   -2      -2       24      14     10      3
   --------------------------------------------------------------------------------------------------------
    COFFEE            51      80    -29    -1      15       6    9      -8       32      12     20      9
   --------------------------------------------------------------------------------------------------------
    COPPER            41      43     -2    23      10       9    1     -15       47      46      1     -9
   --------------------------------------------------------------------------------------------------------
    CORN              47      39      8     0      14       8    6       0       34      48    -14      0
   --------------------------------------------------------------------------------------------------------
    COTTON            59      61     -2    19       9      11   -2     -13       27      22      5     -4
   --------------------------------------------------------------------------------------------------------
    CRUDE OIL(NY)     55      62     -7    -7       7       6    1       4       33      27      6      3
   --------------------------------------------------------------------------------------------------------
    GOLD(COMEX)       66      56     10   -19       4      11   -7       9       21      24     -3     10
   --------------------------------------------------------------------------------------------------------
    HEATING OIL #2    40      73    -33    -9      24       1   23       9       36      26     10      0
   --------------------------------------------------------------------------------------------------------
    HOGS              13      21     -8     0      34       9   25      12       45      62    -17    -11
   --------------------------------------------------------------------------------------------------------
    UNLEADED GAS      49      71    -22   -23      19       *   18      17       27      23      4      5
   --------------------------------------------------------------------------------------------------------
    LUMBER            42      44     -2    -8      21       7   14       9       30      42    -12     -2
   --------------------------------------------------------------------------------------------------------
    ORANGE JUlCE      59      45     14    -4       6      24  -18      -1       31      26      
   --------------------------------------------------------------------------------------------------------
    PLATINUM          39      60    -21   -25      19      15    4      18       38      21     17      7
   --------------------------------------------------------------------------------------------------------
    PORK BELLlES       5      16    -11     0      39      31    8      15       47      45      2    -16
   --------------------------------------------------------------------------------------------------------
    SILVER(COMEX)     23      69    -46   -17      20       9   11      11       52      17     35      5
   --------------------------------------------------------------------------------------------------------
    SOYBEANS          38      33      5    -2       9      14   -5      -5       43      43      0      7
   --------------------------------------------------------------------------------------------------------
    SOYBEAN MEAL      56      50      6     1       5       8   -3       2       34      36     -2     -2
   --------------------------------------------------------------------------------------------------------
    SOYBEAN OIL       47      50     -3    -7       6       6    0       0       40      37      3      7
   --------------------------------------------------------------------------------------------------------
    SUGAR "11"        35      94    -59   -20      33       *   32      13       32       6     26      7
   --------------------------------------------------------------------------------------------------------
    WHEAT (CHI)       41      27     14    -8      14      16   -2       3       36      48    -12      6
   --------------------------------------------------------------------------------------------------------
    WHEAT (K.C.)      44      61    -17    -6      10       8    2       1       44      29     15      5
   --------------------------------------------------------------------------------------------------------
    EURODOLLAR        62      61      1     1       3       2    1      -1       33      35     -2      1
   --------------------------------------------------------------------------------------------------------
    MUNI BONDS        48      71    -23     4      28      17   11      -7       22      11     11      2
   --------------------------------------------------------------------------------------------------------
    T-BILLS (90 DAY   29      60    -31    -6      43      16   27      19       27      23      4    -13
   --------------------------------------------------------------------------------------------------------
    T-BONDS           47      50     -3     0      14       9    5       0       36      38     -2     -1
   --------------------------------------------------------------------------------------------------------
    T-NOTES           75      70      5     6       6       6    0      -6       19      24     -5     -2
   --------------------------------------------------------------------------------------------------------
    NYSE COMOSITE     18      13      5    14      34      42   -8      -4       35      32      3    -11
   --------------------------------------------------------------------------------------------------------
    MMI-MAXI          57      38     19    14      22      27   -5       3       22      35    -13    -15
   --------------------------------------------------------------------------------------------------------
    S&P 500           70      60     10     6       8      17   -9      -1       22      23     -1     -4
   --------------------------------------------------------------------------------------------------------
    BRITISH POUND     39      62    -23   -76      22       7   15      32       39      31      8     44
   --------------------------------------------------------------------------------------------------------
    DEUTSCH MARK      26      76    -50   -71      34       5   29      44       39      19     20     23
   --------------------------------------------------------------------------------------------------------
    JAPANESE YEN      49      48      1   -42      12      15   -3      20       35      33      2     26
   --------------------------------------------------------------------------------------------------------
    SWlSS FRANC       27      38    -11   -32      22      22    0       9       49      38     11     23
   --------------------------------------------------------------------------------------------------------
    NOTE: Applies     ▵ Change in % Net from Previous Month (PLUS - increased long or decreased short.
    only to C.O.T.    MINUS - increased short or decreased long)                          * Less than .05%
    Table.            NOTE: Positions do not equal 100% because intermarket statistics are not included