Though it is a major commodity producer, Russia has traditionally not embraced policies that artificially keep prices up.

S. being a major producer of agricultural products and being mostly self-sufficient, oil is a very important commodity used in agriculture production and the U. S. needs to import most of its oil.

We did get out of our strategic long position in CVRD, the Brazilian iron ore producer, in time for the end of the commodity bubble and shorted the other big iron ore groups.