<SEC-DOCUMENT>0001752724-20-176188.txt : 20200827
<SEC-HEADER>0001752724-20-176188.hdr.sgml : 20200827
<ACCEPTANCE-DATETIME>20200827142838
ACCESSION NUMBER:		0001752724-20-176188
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200630
FILED AS OF DATE:		20200827
PERIOD START:           	20201231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BlackRock Resources & Commodities Strategy Trust
		CENTRAL INDEX KEY:			0001506289
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22501
		FILM NUMBER:		201141707

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		1-800-882-0052

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Graphic Packaging Holding Co</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>BP PLC</issuerName>
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            <shareNo>100.00000000</shareNo>
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      <invstOrSec>
        <name>JP MORGAN CHASE BANK</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP MORGAN CHASE BANK</counterpartyName>
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                <issuerName>Trimble Inc</issuerName>
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            <shareNo>1.00000000</shareNo>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>First Quantum Minerals Ltd</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>First Quantum Minerals Ltd</title>
        <cusip>000000000</cusip>
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        <balance>1091233.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Montreal Exchange / Bourse De Montreal</name>
        <lei>N/A</lei>
        <title>SUNCOR ENERGY INC JUL20 27 CALL</title>
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          <other otherDesc="BlackRock Identifier" value="Z94RMGUE8"/>
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        <balance>-659.00000000</balance>
        <units>NC</units>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>The Montreal Exchange / Bourse De Montreal</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Suncor Energy Inc</issuerName>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>27.00000000</exercisePrice>
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            <expDt>2020-07-17</expDt>
            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PACKAGING CORP OF AMERICA AUG20 100 CALL</title>
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          <other otherDesc="BlackRock Identifier" value="Z94TLMY08"/>
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        <curCd>USD</curCd>
        <valUSD>-107970.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>Packaging Corp of America</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <expDt>2020-08-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3730.01000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>MARATHON PETROLEUM CORP JUL20 46.5 CALL</title>
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        <valUSD>-6981.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <writtenOrPur>Written</writtenOrPur>
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            <shareNo>100.00000000</shareNo>
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            <expDt>2020-07-24</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>23047.57000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONOCOPHILLIPS AUG20 44.5 CALL</title>
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          <other otherDesc="BlackRock Identifier" value="Z94U4DLQ1"/>
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        <balance>-434.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-73563.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>ConocoPhillips</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <expDt>2020-08-07</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-10672.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>VALE SA JUL20 9.5 CALL</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Polyus PJSC</name>
        <lei>549300FUXVT7TF6ZKV71</lei>
        <title>Polyus PJSC</title>
        <cusip>73181M117</cusip>
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        <balance>97898.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CF Industries Holdings Inc</name>
        <lei>529900CG8YAQFZ2JMV97</lei>
        <title>CF Industries Holdings Inc</title>
        <cusip>125269100</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>BRW4WCMF8 JUL20 MNOD LN CALL JUL20 29.9728 CALL</title>
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        <balance>-64700.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8056.44000000</valUSD>
        <pctVal>-0.00122661022</pctVal>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>UBS AG</counterpartyName>
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                  <isin value="US55315J1025"/>
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            <shareNo>1.00000000</shareNo>
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            <expDt>2020-07-07</expDt>
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            <unrealizedAppr>39303.96000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>INTERNATIONAL PAPER CO JUL20 37.5 CALL</title>
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        <balance>-334.00000000</balance>
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        <valUSD>-6847.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>International Paper Co</issuerName>
                <issueTitle>International Paper Co</issueTitle>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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        <name>CREDIT SUISSE INTERNATIONAL</name>
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        <name>CREDIT SUISSE INTERNATIONAL</name>
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        <name>Royal Dutch Shell PLC</name>
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        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <name>Options Clearing Corp.</name>
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        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL</name>
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        <name>Williams Cos Inc/The</name>
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        <name>Options Clearing Corp.</name>
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        <name>Lehman Brothers Holdings Inc</name>
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        <title>LEHMAN DEFAULT CLAIM TRACKER COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <shareNo>100.00000000</shareNo>
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      </invstOrSec>
      <invstOrSec>
        <name>Kosmos Energy Ltd</name>
        <lei>213800YDFJ3OT9B5P157</lei>
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        <balance>1306747.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <balance>-633.00000000</balance>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>Petroleo Brasileiro SA</issuerName>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <delta>XXXX</delta>
            <unrealizedAppr>11549.51000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CHEVRON CORP JUL20 97.5 CALL</title>
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        <valUSD>-23958.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>Chevron Corp</issuerName>
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            <delta>XXXX</delta>
            <unrealizedAppr>43064.84000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>GRAPHIC PACKAGING HOLDING CO AUG20 15 CALL</title>
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        <balance>-2001.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-80040.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-479.66000000</unrealizedAppr>
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      <invstOrSec>
        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>BRW67VQ08 AUG20 883 HK CALL AUG20 9.416 CALL</title>
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        <balance>-2683000.00000000</balance>
        <units>NC</units>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <shareNo>1.00000000</shareNo>
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            <exercisePriceCurCd>HKD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-2096.34000000</unrealizedAppr>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRW57QTL2 JUL20 GPK US CALL JUL20 14.146 CALL</title>
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        <balance>-88400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-18972.41000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <unrealizedAppr>13426.19000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONOCOPHILLIPS JUL20 50 CALL</title>
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        <balance>-217.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>FREEPORT-MCMORAN INC JUL20 12.5 CALL</title>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRW5R0RY1 JUL20 OGZD LN CALL JUL20 6.1182 CALL</title>
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        <balance>-175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-383.25000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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            <putOrCall>Call</putOrCall>
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                <issuerName>Gazprom PJSC</issuerName>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>6.11820000</exercisePrice>
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        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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        <name>Packaging Corp of America</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>VALE SA JUL20 11 CALL</title>
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      <invstOrSec>
        <name>UBS AG</name>
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        <name>Anglo American PLC</name>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>LBHI GUARANTEE CLAIM USD LBHI GUAR TCL USD</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>International Paper Co</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CF INDUSTRIES HOLDINGS INC AUG20 35 CALL</title>
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        <name>The Montreal Exchange / Bourse De Montreal</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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            <shareNo>100.00000000</shareNo>
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        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
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      <invstOrSec>
        <name>OSISKO GOLD ROYALTIES</name>
        <lei>549300TJZTXZMPQ6K004</lei>
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        <fairValLevel>1</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Nestle SA</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNOOC Ltd</name>
        <lei>549300XIVJCBIGMRUD48</lei>
        <title>CNOOC Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRW5MZ101 JUL20 OGZD LN CALL JUL20 6.027 CALL</title>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CREDIT SUISSE INTERNATIONAL</counterpartyName>
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            <shareNo>1.00000000</shareNo>
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            <unrealizedAppr>3816.19000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ConocoPhillips</title>
        <cusip>20825C104</cusip>
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          <isin value="US20825C1045"/>
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        <balance>311436.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>TRACTOR SUPPLY CO AUG20 135 CALL</title>
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        <curCd>USD</curCd>
        <valUSD>-95400.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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                <issuerName>Tractor Supply Co</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-9685.69000000</unrealizedAppr>
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      <invstOrSec>
        <name>Tractor Supply Co</name>
        <lei>549300OJ9VZHZRO6I137</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>TYSON FOODS INC AUG20 63.5 CALL</title>
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        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>-32400.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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                <issuerName>Tyson Foods Inc</issuerName>
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            <shareNo>100.00000000</shareNo>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>BRW5LF411 JUL20 AAL LN CALL JUL20 18.9546 CALL</title>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>Anglo American PLC</issuerName>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>BP PLC AUG20 25 CALL</title>
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          <other otherDesc="BlackRock Identifier" value="Z94U4BXM1"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>BP PLC JUL20 25.5 CALL</title>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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            <unrealizedAppr>-10037.30000000</unrealizedAppr>
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      <invstOrSec>
        <name>PILGANGOORA OPS PTY LTD</name>
        <lei>213800EVZMYL8JOPCT33</lei>
        <title>Pilgangoora Operations Pty Ltd</title>
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        <balance>8437500.00000000</balance>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>The Montreal Exchange / Bourse De Montreal</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Symrise AG</name>
        <lei>529900D82I6R9601CF26</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>Petroleo Brasileiro SA</issuerName>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Kerry Group PLC</name>
        <lei>635400TLVVBNXLFHWC59</lei>
        <title>Kerry Group PLC</title>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <curCd>USD</curCd>
        <valUSD>-100650.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Pioneer Natural Resources Co</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-25451.08000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>TRACTOR SUPPLY CO JUL20 110 CALL</title>
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        <valUSD>-253460.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Tractor Supply Co</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-211445.23000000</unrealizedAppr>
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      <invstOrSec>
        <name>Newcrest Mining Ltd</name>
        <lei>5299006MN50OZJUJI655</lei>
        <title>Newcrest Mining Ltd</title>
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          <isin value="AU000000NCM7"/>
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        <balance>384563.00000000</balance>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>BRW67TH52 AUG20 NCM AU CALL AUG20 33.7692 CALL</title>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>NEWMONT CORP JUL20 60 CALL</title>
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      <invstOrSec>
        <name>Gazprom PJSC</name>
        <lei>213800FD9J2IHTA7YX78</lei>
        <title>Gazprom PJSC</title>
        <cusip>368287207</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Stelco Holdings Inc</name>
        <lei>N/A</lei>
        <title>Stelco Holdings Inc</title>
        <cusip>000000000</cusip>
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          <isin value="CA8585221051"/>
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        <balance>1285453.00000000</balance>
        <units>NS</units>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CF INDUSTRIES HOLDINGS INC JUL20 30 CALL</title>
        <cusip>000000000</cusip>
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        <balance>-280.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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        <name>Marathon Petroleum Corp</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Trimble Inc</name>
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        <name>Options Clearing Corp.</name>
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        <name>BP PLC</name>
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        <name>Petroleo Brasileiro SA</name>
        <lei>5493000J801JZRCMFE49</lei>
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        <name>Neo Lithium Corp</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PETROLEO BRASILEIRO SA JUL20 8.5 CALL</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>WILLIAMS COS INC/THE JUL20 20 CALL</title>
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        <valUSD>-17658.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>VALE SA JUL20 9 CALL</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
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      <invstOrSec>
        <name>The Montreal Exchange / Bourse De Montreal</name>
        <lei>N/A</lei>
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        <name>Chevron Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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            <shareNo>100.00000000</shareNo>
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            <unrealizedAppr>68544.27000000</unrealizedAppr>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRW5TSSW1 JUL20 BHP LN CALL JUL20 17.7036 CALL</title>
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        <balance>-490002.00000000</balance>
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        <name>JP MORGAN CHASE BANK</name>
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        <name>UBS AG</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <name>The Montreal Exchange / Bourse De Montreal</name>
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        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CF INDUSTRIES HOLDINGS INC JUL20 30 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z94RNGY29"/>
        </identifiers>
        <balance>-316.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-18960.00000000</valUSD>
        <pctVal>-0.00288670057</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CF Industries Holdings Inc</issuerName>
                <issueTitle>CF Industries Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="125269100"/>
                  <isin value="US1252691001"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>30.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>38475.25000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pioneer Natural Resources Co</name>
        <lei>FY8JBF7CCL2VE4F1B628</lei>
        <title>Pioneer Natural Resources Co</title>
        <cusip>723787107</cusip>
        <identifiers>
          <isin value="US7237871071"/>
        </identifiers>
        <balance>92680.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9054836.00000000</valUSD>
        <pctVal>1.378618156829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CHEVRON CORP JUL20 95.5 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z94S6HXF6"/>
        </identifiers>
        <balance>-132.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-660.00000000</valUSD>
        <pctVal>-0.00010048641</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Chevron Corp</issuerName>
                <issueTitle>Chevron Corp</issueTitle>
                <identifiers>
                  <cusip value="166764100"/>
                  <isin value="US1667641005"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>95.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-02</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>25179.90000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRW5LF3H7 JUL20 BHP LN CALL JUL20 17.64 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="BRW5LF3H7"/>
        </identifiers>
        <balance>-125500.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.80703700"/>
        <valUSD>-26007.32000000</valUSD>
        <pctVal>-0.00395967012</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CREDIT SUISSE INTERNATIONAL</counterpartyName>
              <counterpartyLei>E58DKGMJYYYJLN8C3868</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BHP Group PLC</issuerName>
                <issueTitle>BHP Group PLC</issueTitle>
                <identifiers>
                  <isin value="GB00BH0P3Z91"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>17.64000000</exercisePrice>
            <exercisePriceCurCd>GBP</exercisePriceCurCd>
            <expDt>2020-07-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>45623.68000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JBS SA</name>
        <lei>N/A</lei>
        <title>JBS SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRJBSSACNOR8"/>
        </identifiers>
        <balance>2743503.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43810000"/>
        <valUSD>10670103.24000000</valUSD>
        <pctVal>1.624546050519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Newmont Corp</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp</title>
        <cusip>651639106</cusip>
        <identifiers>
          <isin value="US6516391066"/>
        </identifiers>
        <balance>424920.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26234560.80000000</valUSD>
        <pctVal>3.994268019356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Liquidity Funds</name>
        <lei>5493002L9DNZ83RX7V61</lei>
        <title>BlackRock Liquidity Funds: T-Fund, Institutional Shares</title>
        <cusip>09248U718</cusip>
        <identifiers>
          <isin value="US09248U7182"/>
        </identifiers>
        <balance>21359984.69000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21359984.69000000</valUSD>
        <pctVal>3.252103375834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>BP PLC JUL20 29 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z94FB3UH8"/>
        </identifiers>
        <balance>-755.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7550.00000000</valUSD>
        <pctVal>-0.00114950365</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BP PLC</issuerName>
                <issueTitle>BP PLC</issueTitle>
                <identifiers>
                  <cusip value="055622104"/>
                  <isin value="US0556221044"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>29.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>51913.37000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONOCOPHILLIPS JUL20 46 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z94T8DRH4"/>
        </identifiers>
        <balance>-115.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12247.50000000</valUSD>
        <pctVal>-0.00186470808</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ConocoPhillips</issuerName>
                <issueTitle>ConocoPhillips</issueTitle>
                <identifiers>
                  <cusip value="20825C104"/>
                  <isin value="US20825C1045"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>46.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>17509.37000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>ROYAL DUTCH SHELL PLC JUL20 34.5 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z94S737E8"/>
        </identifiers>
        <balance>-195.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1950.00000000</valUSD>
        <pctVal>-0.00029689167</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Royal Dutch Shell PLC</issuerName>
                <issueTitle>Royal Dutch Shell PLC</issueTitle>
                <identifiers>
                  <cusip value="780259206"/>
                  <isin value="US7802592060"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>34.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-02</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>21012.91000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>BRW6056M6 JUL20 MNOD LN CALL JUL20 29.96 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="BRW6056M6"/>
        </identifiers>
        <balance>-64800.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-41121.43000000</valUSD>
        <pctVal>-0.00626082571</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MMC Norilsk Nickel PJSC</issuerName>
                <issueTitle>MMC Norilsk Nickel PJSC</issueTitle>
                <identifiers>
                  <cusip value="55315J102"/>
                  <isin value="US55315J1025"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>29.96000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-10276.63000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-07-27</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Resources &amp; Commodities Strategy Trust</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
