Material Agreement Form 8 K

Amendment Agreement - Opus Futures, LLC

Ceres Managed Futures LLC, the general partner of the Registrant (the "General Partner"), and the Registrant have entered into an amendment agreement dated as of July 25, 2024 (the "Amendment Agreement") with Opus Futures, LLC, a Tennessee limited liability company ("Opus"), amending the management agreement dated as of January 9, 2023 (the "Management Agreement"), between the General Partner, the Registrant and Opus. The Amendment Agreement, effective August 1, 2024, amends Section 1(c) of the Management Agreement to permit for the adjustment of leverage applied to the assets of the Registrant allocated to Opus.

Pursuant to the Amendment Agreement, the leverage applied to the assets of the Registrant allocated to Opus (the "Allocation Amount"), either directly or indirectly through a master fund, shall be 1.0x, 1.25x or 1.50x, which may be changed from time to time by the General Partner. In no event shall the leverage applied to the Allocation Amount exceed 1.50x, unless agreed upon mutually by the General Partner, the Registrant and Opus.

The Amendment Agreement is filed herewith as Exhibit 10.1.