Ceres Tactical Global 10-Q 12 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014
Document and Entity Information [Abstract]	'
Entity Registrant Name	'MORGAN STANLEY SMITH BARNEY SPECTRUM CURRENCY & COMMODITY L.P.
Entity Central Index Key	'0001097396
Current Fiscal Year End Date	'--12-31
Entity Well-known Seasoned Issuer	'No
Entity Voluntary Filers	'No
Entity Current Reporting Status	'Yes
Entity Filer Category	'Non-accelerated Filer
Entity Common Stock, Shares Outstanding	1,719,427.26
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q3
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	30-Sep-14

STATEMENTS_OF_FINANCIAL_CONDIT

STATEMENTS OF FINANCIAL CONDITION (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS	'	'
Investments	$14,934,943	$18,589,455
Interest receivable	35	165
Total Assets	14,934,978	18,589,620
Liabilities:	'	'
Redemptions payable to Limited Partners	526,025	529,590
Redemptions payable to General Partner	15,376	0
Total redemptions payable	541,401	529,590
Accrued incentive fee	132,795	0
Accrued brokerage fees	40,354	70,894
Accrued management fees	15,686	20,064
Total Liabilities	730,236	620,548
Partners' Capital:	'	'
Limited Partners (1,719,427.264 and 2,394,803.341 Units, respectively)	14,063,900	17,703,845
General Partner (17,219.120 and 35,877.343 Units, respectively)	140,842	265,227
Total Partners' Capital	14,204,742	17,969,072
Total Liabilities and Partners' Capital	14,934,978	18,589,620
NET ASSET VALUE PER UNIT (in dollars per unit)	$8.18	$7.39
Cambridge Master Fund [Member]	'	'
ASSETS	'	'
Investments	12,239,760	11,299,138
KR Master Fund [Member]	'	'
ASSETS	'	'
Investments	$2,695,183	$7,290,317

STATEMENTS_OF_FINANCIAL_CONDIT1

STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical)	Sep. 30, 2014	Dec. 31, 2013
Partners' Capital:	'	'
Limited Partners, Units (in units)	1,719,427.26	2,394,803.34
General Partner, Units (in units)	17,219.12	35,877.34

STATEMENTS_OF_INCOME_AND_EXPEN

STATEMENTS OF INCOME AND EXPENSES (Unaudited) (USD $)	3 Months Ended				9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
INVESTMENT INCOME	'		'		'		'
Interest income	$359		$1,072		$1,968		$6,447
EXPENSES	'		'		'		'
Brokerage fees	123,663		231,562		459,790		745,132
Management fees	48,031		86,133		157,285		286,007
Incentive fees	132,795		0		132,795		165,296
Total Expenses	304,489		317,695		749,870		1,196,435
NET INVESTMENT LOSS	-304,130		-316,623		-747,902		-1,189,988
Trading profit (loss):	'		'		'		'
Net realized	0		-109,732		0		444,474
Net change in unrealized	0		109,718		0		-43,205
Total Trading Results	1,925,502		-1,373,317		2,153,262		-23,730
NET INCOME (LOSS)	1,621,372		-1,689,940		1,405,360		-1,213,718
NET INCOME (LOSS) ALLOCATION	'		'		'		'
Limited Partners	1,601,495		-1,667,493		1,389,201		-1,197,148
General Partner	19,877		-22,447		16,159		-16,570
NET INCOME (LOSS) PER UNIT	'		'		'		'
Limited Partners (in dollars per unit)	$0.89	[1]	($0.63)	[1]	$0.79	[1]	($0.46)	[1]
General Partner (in dollars per unit)	$0.89	[1]	($0.63)	[1]	$0.79	[1]	($0.46)	[1]
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING (in units)	1,863,297.24		2,694,442.18		2,092,810.54		2,847,592.93
KR Master Fund [Member]	'		'		'		'
Trading profit (loss):	'		'		'		'
Net realized gain (loss) on investment	123,320		-87,100		-294,101		-283,163
Net change in unrealized appreciation (depreciation) on investment	-74,844		32,922		535,808		-250,562
Cambridge Master Fund [Member]	'		'		'		'
Trading profit (loss):	'		'		'		'
Net realized gain (loss) on investment	276,459		-1,269,753		674,474		286,885
Net change in unrealized appreciation (depreciation) on investment	$1,600,567		($49,372)		$1,237,081		($178,159)
[1]	Based on change in net asset value per Unit.

STATEMENTS_OF_CHANGES_IN_PARTN

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (Unaudited) (USD $)	Limited Partners [Member]	General Partner [Member]	Total
Balance at Dec. 31, 2012	$23,041,527	$271,658	$23,313,185
Balance (in units) at Dec. 31, 2012	'	'	3,078,925.68
Increase/(decrease) in Partners' Capital [Roll Forward]	'	'	'
Net Income (Loss)	-1,197,148	-16,570	-1,213,718
Redemptions	-3,541,677	0	-3,541,677
Redemptions (in units)	'	'	-469,433.35
Balance at Sep. 30, 2013	18,302,702	255,088	18,557,790
Balance (in units) at Sep. 30, 2013	'	'	2,609,492.33
Balance at Dec. 31, 2013	17,703,845	265,227	17,969,072
Balance (in units) at Dec. 31, 2013	'	'	2,430,680.68
Increase/(decrease) in Partners' Capital [Roll Forward]	'	'	'
Net Income (Loss)	1,389,201	16,159	1,405,360
Redemptions	-5,029,146	-140,544	-5,169,690
Redemptions (in units)	'	'	-694,034.30
Balance at Sep. 30, 2014	$14,063,900	$140,842	$14,204,742
Balance (in units) at Sep. 30, 2014	'	'	1,736,646.38

Managements_Opinion

Management's Opinion	9 Months Ended
	Sep. 30, 2014
Management's Opinion [Abstract]	'
Management's Opinion [Text Block]	'
	The unaudited financial statements contained herein include, in the opinion of management, all adjustments necessary for a fair presentation of the financial condition and results of operations of Morgan Stanley Smith Barney Spectrum Currency and Commodity L.P. (the “Partnership”).  The financial statements and condensed notes herein should be read in conjunction with the Partnership’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the “Form 10-K”).

Organization

Organization	9 Months Ended
	Sep. 30, 2014
Organization [Abstract]	'
Organization	'
	1	Organization
	Morgan Stanley Smith Barney Spectrum Currency and Commodity L.P. is a Delaware limited partnership organized in 1999 to engage primarily in the speculative trading of futures contracts, options on futures and forward contracts, and forward contracts on physical commodities and other commodity interests, including, but not limited to, foreign currencies, financial instruments, metals, energy, and agricultural products (collectively, “Futures Interests”) (refer to Note 4. Financial Instruments).  The Partnership is one of the Morgan Stanley Spectrum series of funds, comprised of the Partnership, Morgan Stanley Smith Barney Spectrum Technical L.P., Morgan Stanley Smith Barney Spectrum Select L.P., Morgan Stanley Smith Barney Spectrum Strategic L.P., and, prior to September 30, 2014,  Morgan Stanley Smith Barney Spectrum Global Balanced L.P. (“Spectrum Global Balanced”)  (collectively, the “Spectrum Series”).
	Ceres Managed Futures LLC, a Delaware limited liability company, acts as the general partner (“Ceres” or the “General Partner”) and commodity pool operator for the Partnership.  Ceres is a wholly-owned subsidiary of Morgan Stanley Smith Barney Holdings LLC (“MSSBH”).  MSSBH is wholly-owned indirectly by Morgan Stanley.  Morgan Stanley Smith Barney LLC is doing business as Morgan Stanley Wealth Management (“Morgan Stanley Wealth Management”).  Morgan Stanley Wealth Management is a principal subsidiary of MSSBH.
	The clearing commodity broker for the Partnership is Morgan Stanley & Co. LLC (“MS&Co.”).  MS&Co. also acts as the counterparty on all trading of foreign currency forward contracts. Morgan Stanley Capital Group Inc. (“MSCG”) acts as the counterparty on all trading of options on foreign currency forward contracts.   MS&Co. and MSCG are wholly-owned subsidiaries of Morgan Stanley.  The trading advisors to the Partnership are The Cambridge Strategy (Assets Management) Limited (“Cambridge”) and Krom River Investment Management (Cayman) Limited (together with its affiliate, Krom River Trading AG, “Krom River”) (each individually, a “Trading Advisor”, or collectively, the “Trading Advisors”).
	Cambridge and Krom River manage the assets of the Partnership through their investments in Cambridge Master Fund L.P. (“Cambridge Master Fund”) and KR Master Fund L.P. (“KR Master Fund”), respectively.  Ceres is a general partner to Cambridge Master Fund and KR Master Fund.
	Effective October 1, 2014, the flat rate brokerage fee, equal to an annual rate of 3.6% of the Partnership’s net assets, was separated into (i) a general partner administrative fee payable to the General Partner equal to an annual rate of 1.6% of the Partnership’s net assets, and (ii) an ongoing placement agent fee payable to Morgan Stanley Wealth Management equal to an annual rate of 2.0% of the Partnership’s net assets. The October 1, 2014 fee changes, in the aggregate, did not exceed the flat rate brokerage fee and, accordingly, there is no change to the aggregate fees incurred by the Partnership.

Financial_Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2014
Financial Highlights [Abstract]	'
Financial Highlights	'
	2	Financial Highlights
	Financial Highlights for the three and nine months ended September 30, 2014 and 2013 were as follows:
			For the Three Months						For the Nine Months
			Ended September 30,						Ended September 30,
			2014			2013			2014			2013
	Per Unit operating performance:
	Net asset value at the beginning of the period:		$	7.29		$	7.74		$	7.39		$	7.57
	Interest Income			–	(3)		–	(3)		–	(3)		–	(3)
	Expenses			(0.17	)		(0.12	)		(0.37	)		(0.42	)
	Realized/Unrealized Income (Loss) (1)			1.06			(0.51	)		1.16			(0.04	)
	Net Income (Loss)			0.89			(0.63	)		0.79			(0.46	)
	Net asset value, September 30:		$	8.18		$	7.11		$	8.18		$	7.11
	Ratios to average net assets:
	Net Investment Loss  (2)			(5.9	)%		(6.5	)%		(6.4	)%		(7.3	)%
	Expenses before Incentive Fees (2)			4.9	%		6.6	%		5.5	%		6.5	%
	Expenses after Incentive Fees (2)			5.9	%		6.6	%		6.4	%		7.3	%
	Total return before incentive fees			13.2	%		(8.1	)%		11.6	%		(5.3	)%
	Total return after incentive fees			12.2	%		(8.1	)%		10.7	%		(6.1	)%
	-1	Realized/Unrealized Income (Loss) is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per Unit information.
	(2)	Annualized (except for incentive fees if applicable).
	-3	Amount less than $0.005 per Unit.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	3	Related Party Transactions
	The Partnership’s cash is on deposit in commodity brokerage accounts with Morgan Stanley.  Monthly, MS&Co. pays the Partnership interest income on 100% of the average daily equity maintained in cash in the Partnership’s account during each month at a rate equal to 80% of the monthly average of the 4-week U.S. Treasury bill discount rate.  MS&Co. retains any interest earned in excess of the interest paid to the Partnership.  For purposes of such interest payments, net assets do not include monies due to the Partnership on Futures Interests that have not been received.    The Partnership pays brokerage fees to Morgan Stanley Wealth Management and/or its affiliates.

Financial_Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2014
Financial Instruments [Abstract]	'
Financial Instruments	'
	4	Financial Instruments
	The Partnership trades Futures Interests.  Futures and forwards represent contracts for delayed delivery of an instrument at a specified date and price.  Futures Interests are open commitments until the settlement date, at which time they are realized.  They are valued at fair value, generally on a daily basis, and the unrealized gains and losses on open contracts (the difference between contract trade price and market price) are reported in the Statements of Financial Condition as a net unrealized gain or loss on open contracts.  The resulting net change in unrealized gains and losses is reflected in the “Net change in unrealized” trading profit (loss), “Net change in unrealized appreciation (depreciation) on investment in KR Master Fund”, and “Net change in unrealized appreciation (depreciation) on investment in Cambridge Master Fund” on open contracts from one period to the next on the Statements of Income and Expenses.  The fair value of exchange-traded futures, options and forward contracts is determined by the various futures exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period.  The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges.  The fair value of non-exchange-traded foreign currency option contracts is calculated by applying an industry standard model application for options valuation of foreign currency options, using as input the spot prices, interest rates, and option implied volatilities quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period. The fair value of an off-exchange-traded contract is based on the fair value quoted by the counterparty.  Risk arises from changes in the value of these contracts and the potential inability of counterparties to perform under the terms of the contracts.  There are numerous factors which may significantly influence the fair value of these contracts, including interest rate volatility.
	The Partnership may invest in affiliated underlying master funds (“Master Fund(s)”).  The Partnership records its investments in Master Funds at fair value on the basis of the net asset value of the Master Funds as of the Partnership’s reporting date.
	The fair value of an exchange-traded contract is based on the settlement price quoted by the exchange on the day with respect to which fair value is being determined.  If an exchange-traded contract could not have been liquidated on such day due to the operation of daily limits or other rules of the exchange, the settlement price will be equal to the settlement price on the first subsequent day on which the contract could be liquidated.
	The Partnership’s contracts are accounted for on a trade-date basis.  The Partnership accounts for its derivative investments as described in Note 5. Derivatives and Hedging as required by the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Codification (“ASC”).  A derivative is defined as a financial instrument or other contract that has all three of the following characteristics:
		1)	a) One or more “underlyings” and b) one or more “notional amounts” or payment provisions or both;
		2)	Requires no initial net investment or a smaller initial net investment than would be required for other types of contracts that would be expected to have a similar response relative to changes in market factors; and
		3)	Terms that require or permit net settlement.
	Generally, derivatives include futures, forward, swaps or options contracts, and other financial instruments with similar characteristics, such as caps, floors, and collars.
	The futures, forwards and options traded by the Partnership involve varying degrees of related market risk.  Market risk is often dependent upon changes in the level or volatility of interest rates, exchange rates, and prices of financial instruments and commodities, factors that result in frequent changes in the fair value of the Partnership’s open positions, and consequently in its earnings, whether realized or unrealized, and cash flow.  Gains and losses on open positions of exchange-traded futures, exchange-traded forward, and exchange-traded futures-styled options contracts are settled daily through variation margin. Gains and losses on off-exchange-traded forward currency contracts are settled upon termination of the contract.  Gains and losses on off-exchange-traded forward currency options contracts are settled on an agreed-upon settlement date.

Derivatives_and_Hedging

Derivatives and Hedging

9 Months Ended

Sep. 30, 2014

Derivatives and Hedging [Abstract]

'

Derivatives and Hedging

'

5

Derivatives and Hedging

The Partnership’s objective is to profit from speculative trading in Futures Interests.  Therefore, the Trading Advisors for the Partnership will take speculative positions in Futures Interests where they feel the best profit opportunities exist for their trading strategy.  As such, the average number of contracts outstanding in absolute quantities (the total of the open long and open short positions) has been presented as a part of the volume disclosure, as position direction is not an indicative factor in such volume disclosures.  With regard to foreign currency forward trades, each notional quantity amount has been converted to an equivalent contract based upon an industry convention.

On January 1, 2013, the Partnership adopted Accounting Standards Update (“ASU”) 2011-11, “Disclosure about Offsetting Assets and Liabilities” and ASU 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities”.  ASU 2011-11 created a new disclosure requirement about the nature of an entity’s rights to setoff and the related arrangements associated with its financial instruments and derivative instruments, while ASU 2013-01 clarified the types of instruments and transactions that are subject to the offsetting disclosure requirements established by ASU 2011-11.  Entities are required to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. The objective of these disclosures is to facilitate comparison between those entities that prepare their financial statements on the basis of accounting principles generally accepted in the United States of America (“U.S. GAAP”) and those entities that prepare their financial statements on the basis of International Financial Reporting Standards.  The new guidance did not have a significant impact on the Partnership’s financial statements.

As of September 30, 2014 and December 31, 2013, the Partnership held no futures and forward contracts; therefore, there were no net unrealized gains and losses on futures and forward contracts.

The effect of Trading Activities on the Statements of Financial Condition as of December 31, 2013:

Futures and Forward Contracts

Long

Long

Short

Short

Net

Average

Unrealized

Unrealized

Unrealized

Unrealized

Unrealized

number of

Gain

Loss

Gain

Loss

Gain (Loss)

contracts

outstanding

for the year

(absolute

quantity)

$

$

$

$

$

Foreign currency

–

–

–

–

–

826

Total

–

–

–

–

–

Unrealized currency gain (loss)

–

Total net unrealized  gain (loss) on open contracts

–

Average

Number of

Contracts

Outstanding

for the Year

(Absolute

Quantity)

Option Contracts at Fair Value

$

Options purchased

–

1

The following tables summarize the net trading results of the Partnership for the three and nine months ended September 30, 2013.

The effect of Trading Activities on the Statements of Income and Expenses for the Three and Nine Months Ended September 30, 2013 included in Total Trading Results:

For the Three Months

For the Nine Months

Ended September 30, 2013

Ended September 30, 2013

Type of Instrument

$

$

Commodity

(54,747

)

(532,816

)

Foreign currency

(1,401,841

)

510,918

Unrealized currency gain (loss)

83,271

(1,832

)

Total

(1,373,317

)

(23,730

)

Line items on the Statements of Income and Expenses for the Three and Nine Months Ended September 30, 2013:

For the Three Months

For the Nine Months

Ended September 30, 2013

Ended September 30, 2013

Trading Results

$

$

Net realized

(109,732

)

444,474

Net change in unrealized

109,718

(43,205

)

Net realized loss on investment in KR Master Fund

(87,100

)

(283,163

)

Net realized gain (loss) on investment in Cambridge Master Fund

(1,269,753

)

286,885

Net change in unrealized appreciation (depreciation) on investment in KR Master Fund

32,922

(250,562

)

Net change in unrealized depreciation on investment in Cambridge Master Fund

(49,372

)

(178,159

)

Total Trading Results

(1,373,317

)

(23,730

)

Fair_Value_Measurements_and_Di

Fair Value Measurements and Disclosures	9 Months Ended
	Sep. 30, 2014
Fair Value Measurements and Disclosures [Abstract]	'
Fair Value Measurements and Disclosures	'
	6	Fair Value Measurements and Disclosures
	Financial instruments are carried at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  Assets and liabilities carried at fair value are classified and disclosed in the following three levels: Level 1 - unadjusted quoted market prices in active markets for identical assets and liabilities; Level 2 - inputs other than unadjusted quoted market prices that are observable for the asset or liability, either directly or indirectly (including unadjusted quoted market prices for similar investments, interest rates and credit risk); and Level 3 -unobservable inputs for the asset or liability (including the Partnership’s own assumptions used in determining the fair value of investments).
	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.  The Partnership’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and consideration of factors specific to the investment.
	The Partnership’s assets and liabilities measured at fair value on a recurring basis are summarized in the following tables by the type of inputs applicable to the fair value measurements.
	30-Sep-14		Unadjusted Quoted				Significant				Significant Unobservable Inputs			Total
			Prices in Active				Other				(Level 3)
			Markets for				Observable Inputs
			Identical Assets				(Level 2)
			(Level 1)
			$				$				$			$
	Assets
	Investment in Cambridge Master Fund			–				12,239,760				n/a			12,239,760
	Investment in KR Master Fund			–				2,695,183				n/a			2,695,183
	Total Assets			–				14,934,943				n/a			14,934,943
			Unadjusted Quoted				Significant				Significant			Total
	31-Dec-13		Prices in Active				Other				Unobservable
			Markets for				Observable				Inputs
			Identical Assets				Inputs				(Level 3)
			(Level 1)				(Level 2)
			$				$				$			$
	Assets
	Investment in Cambridge Master Fund			–				11,299,138				n/a			11,299,138
	Investment in KR Master Fund			–				7,290,317				n/a			7,290,317
	Total Assets			–				18,589,455				n/a			18,589,455
	During the period from January 1, 2014 to September 30, 2014, and the twelve months ended December 31, 2013, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and Level 2.
	Investment in Cambridge Master Fund and KR Master Fund
	On November 1, 2012, the assets allocated to Cambridge for trading were invested in the Cambridge Master Fund, a limited partnership organized under the partnership laws of the State of Delaware.  Cambridge Master Fund was formed to permit accounts managed now and in the future by Cambridge using Cambridge Asian Markets Alpha Programme and, from October 1, 2013, Cambridge Emerging Markets Alpha Programme, to invest together in one trading vehicle. The General Partner is also the general partner of Cambridge Master Fund.  Individual and pooled accounts currently managed by Cambridge, including the Partnership, are permitted to be limited partners of Cambridge Master Fund.  The General Partner and Cambridge believe that trading through this structure should provide efficiency and economy in the trading process.
	On January 1, 2012, the assets allocated to Krom River for trading were invested in the KR Master Fund, a limited partnership organized under the partnership laws of the State of Delaware.  KR Master Fund was formed in order to permit commodity pools managed now or in the future by Krom River using the Commodity Program at 150% Leverage, a fundamental and technical trading system, to invest together in one trading vehicle.  The General Partner is also the general partner of KR Master Fund.  Individual and pooled accounts currently managed by Krom River, including the Partnership, are permitted to be limited partners of KR Master Fund.  The General Partner and Krom River believe that trading through this structure should promote efficiency and economy in the trading process.
	Summarized information, reflecting the total assets, liabilities and capital of Cambridge Master Fund and KR Master Fund as of September 30, 2014 and December 31, 2013, is shown in the following tables.
			30-Sep-14
			Total Assets				Total Liabilities				Total Capital
	KR Master Fund		$	17,814,376			$	231,382			$	17,582,994
	Cambridge Master Fund			43,328,564				49,350				43,279,214
			$	61,142,940			$	280,732			$	60,862,208
			31-Dec-13
			Total Assets				Total Liabilities				Total Capital
	KR Master Fund		$	44,043,845			$	1,456,785			$	42,587,060
	Cambridge Master Fund			37,549,964				28,580				37,521,384
			$	81,593,809			$	1,485,365			$	80,108,444
	Summarized information for the Partnership’s investment in, as of September 30, 2014 and December 31, 2013, and operations of, Cambridge Master Fund and KR Master Fund, for the three and nine months ended September 30, 2014 and 2013 is shown in the following tables:
			30-Sep-14								31-Dec-13
	Investment		% of				Fair				% of			Fair
			Partnership				Value				Partnership			Value
			Net Assets								Net Assets
			%				$				%			$
	Cambridge Master Fund			86.2				12,239,760				62.9			11,299,138
	KR Master Fund			19				2,695,183				40.6			7,290,317
			For the three months ended September 30, 2014							For the nine months ended September 30, 2014
	Investment		Partnership’s			Investment		Redemption		Partnership’s			Investment	Redemption
			pro rata			Objective		Permitted		pro rata			Objective	Permitted
			Net Income/(Loss)							Net Income
			$							$
	Cambridge Master Fund			1,877,025		Commodity Portfolio		Monthly			1,911,554		Commodity Portfolio	Monthly
	KR Master Fund			48,476		Commodity Portfolio		Monthly			241,708		Commodity Portfolio	Monthly
			For the three months ended September 30, 2013							For the nine months ended September 30, 2013
	Investment		Partnership’s			Investment		Redemption		Partnership’s			Investment	Redemption
			pro rata			Objective		Permitted		pro rata			Objective	Permitted
			Net Loss							Net
										Income/(Loss)
			$							$
	Cambridge Master Fund			(1,319,124	)	Commodity Portfolio		Monthly			108,727		Commodity Portfolio	Monthly
	KR Master Fund			(54,178	)	Commodity Portfolio		Monthly			(533,725	)	Commodity Portfolio	Monthly
	Cambridge Master Fund and KR Master Fund do not pay any management or incentive fees related to the Partnership’s investments.  These fees are accrued and paid by the Partnership.  The Partnership reimburses Cambridge Master Fund and KR Master Fund for all brokerage related fees borne by Cambridge Master Fund and KR Master Fund on behalf of the Partnership’s investments.
As of September 30, 2014 and December 31, 2013, the Partnership owned approximately 28.28% and 30.11% of Cambridge Master Fund and 15.33% and 17.11% of KR Master Fund, respectively.  It is the Partnership’s intention to continue to invest in Cambridge Master Fund and KR Master Fund.  The performance of the Partnership is directly affected by the performance of Cambridge Master Fund and KR Master Fund.
The tables below represent summarized Income Statement information for Cambridge Master Fund and KR Master Fund for the three and nine months ended September 30, 2014 and 2013, to meet the requirements of Regulation S-X rule 3-09:
For the Three Months		Investment				Net				Total			Net Income
Ended September 30, 2014		Income				Investment Loss				Trading Results
		$				$				$			$
Cambridge Master Fund			1,114				(54,962	)			6,532,519			6,477,557
KR Master Fund			503				(35,293	)			339,818			304,525
For the Nine Months		Investment				Net				Total			Net
Ended September 30, 2014		Income				Investment Loss				Trading Results			Income
		$				$				$			$
Cambridge Master Fund			5,541				(121,681	)			6,865,193			6,743,512
KR Master Fund			3,374				(125,271	)			1,438,550			1,313,279
For the Three Months		Investment				Net				Total			Net Loss
Ended September 30, 2013		Income				Investment Loss				Trading Results
		$				$				$			$
Cambridge Master Fund			1,382				(9,603	)			(3,121,089	)		(3,130,692	)
KR Master Fund			2,745				(71,980	)			(404,809	)		(476,789	)
For the Nine Months		Investment				Net				Total			Net
Ended September 30, 2013		Income				Investment Loss				Trading Results			Income/(Loss)
		$				$				$			$
Cambridge Master Fund			5,474				(38,020	)			79,930			41,910
KR Master Fund			20,071				(235,574	)			(4,932,402	)		(5,167,976	)

Investment_Company_Status

Investment Company Status	9 Months Ended
	Sep. 30, 2014
Investment Company Status [Abstract]	'
Investment Company Status	'
	7	Investment Company Status
	Effective January 1, 2014, the Partnership adopted ASU 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements.” ASU 2013-08 changes the approach to the investment company assessment, requires non-controlling ownership interests in other investment companies to be measured at fair value, and requires additional disclosures about the investment company’s status as an investment company.   ASU 2013-08 is effective for interim and annual reporting periods beginning after December 15, 2013.  The adoption of this ASU did not have a material impact on the Partnership’s financial statements.  Based on management’s assessment, the Partnership has been deemed to be an investment company since inception.  It has all of the fundamental and typical characteristics of an investment company.

Restricted_and_Unrestricted_Ca

Restricted and Unrestricted Cash	9 Months Ended
	Sep. 30, 2014
Restricted and Unrestricted Cash [Abstract]	'
Restricted and Unrestricted Cash	'
	8	Restricted and Unrestricted Cash
	As reflected on the Partnership’s Statements of Financial Condition, restricted cash equals the cash portion of assets on deposit to meet margin requirements plus the cash required to offset unrealized losses on foreign currency forwards and options contracts and offset unrealized losses only on the offsetting London Metal Exchange positions.  All of these amounts are maintained separately.  Cash that is not classified as restricted cash is therefore classified as unrestricted cash.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	9	Income Taxes
	No provision for income taxes has been made in the accompanying financial statements, as partners are individually responsible for reporting income or loss based upon their respective share of the Partnership’s revenues and expenses for income tax purposes. The Partnership files U.S. federal and state tax returns.
	The guidance issued by the FASB on income taxes clarifies the accounting for uncertainty in income taxes recognized in the Partnership’s financial statements, and prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken.  The Partnership has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements as of September 30, 2014 and December 31, 2013.  If applicable, the Partnership recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in other expenses in the Statements of Income and Expenses.  Generally, the 2011 through 2013 tax years remain subject to examination by U.S. federal and most state tax authorities.  No income tax returns are currently under examination.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	10	Subsequent Events
	Management of Ceres performed its evaluation of subsequent events through the date of filing, and has determined that, other than as referenced in Note 1. Organization to the financial statements, there were no subsequent events requiring adjustment of or disclosure in the financial statements.

Financial_Highlights_Tables

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2014
Financial Highlights [Abstract]	'
Financial Information Additional Disclosure	'
	Financial Highlights for the three and nine months ended September 30, 2014 and 2013 were as follows:
			For the Three Months						For the Nine Months
			Ended September 30,						Ended September 30,
			2014			2013			2014			2013
	Per Unit operating performance:
	Net asset value at the beginning of the period:		$	7.29		$	7.74		$	7.39		$	7.57
	Interest Income			–	(3)		–	(3)		–	(3)		–	(3)
	Expenses			(0.17	)		(0.12	)		(0.37	)		(0.42	)
	Realized/Unrealized Income (Loss) (1)			1.06			(0.51	)		1.16			(0.04	)
	Net Income (Loss)			0.89			(0.63	)		0.79			(0.46	)
	Net asset value, September 30:		$	8.18		$	7.11		$	8.18		$	7.11
	Ratios to average net assets:
	Net Investment Loss  (2)			(5.9	)%		(6.5	)%		(6.4	)%		(7.3	)%
	Expenses before Incentive Fees (2)			4.9	%		6.6	%		5.5	%		6.5	%
	Expenses after Incentive Fees (2)			5.9	%		6.6	%		6.4	%		7.3	%
	Total return before incentive fees			13.2	%		(8.1	)%		11.6	%		(5.3	)%
	Total return after incentive fees			12.2	%		(8.1	)%		10.7	%		(6.1	)%
	-1	Realized/Unrealized Income (Loss) is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per Unit information.
	(2)	Annualized (except for incentive fees if applicable).
	-3	Amount less than $0.005 per Unit.

Derivatives_and_Hedging_Tables

Derivatives and Hedging (Tables)

9 Months Ended

Sep. 30, 2014

Derivatives and Hedging [Abstract]

'

Schedule of Effect of Trading Activities on the Statements of Financial Condition

'

The effect of Trading Activities on the Statements of Financial Condition as of December 31, 2013:

Futures and Forward Contracts

Long

Long

Short

Short

Net

Average

Unrealized

Unrealized

Unrealized

Unrealized

Unrealized

number of

Gain

Loss

Gain

Loss

Gain (Loss)

contracts

outstanding

for the year

(absolute

quantity)

$

$

$

$

$

Foreign currency

–

–

–

–

–

826

Total

–

–

–

–

–

Unrealized currency gain (loss)

–

Total net unrealized  gain (loss) on open contracts

–

Average

Number of

Contracts

Outstanding

for the Year

(Absolute

Quantity)

Option Contracts at Fair Value

$

Options purchased

–

1

Schedule of Effect of Trading Activities on the Statements of Income and Expenses

'

The effect of Trading Activities on the Statements of Income and Expenses for the Three and Nine Months Ended September 30, 2013 included in Total Trading Results:

For the Three Months

For the Nine Months

Ended September 30, 2013

Ended September 30, 2013

Type of Instrument

$

$

Commodity

(54,747

)

(532,816

)

Foreign currency

(1,401,841

)

510,918

Unrealized currency gain (loss)

83,271

(1,832

)

Total

(1,373,317

)

(23,730

)

Line items on the Statements of Income and Expenses for the Three and Nine Months Ended September 30, 2013:

For the Three Months

For the Nine Months

Ended September 30, 2013

Ended September 30, 2013

Trading Results

$

$

Net realized

(109,732

)

444,474

Net change in unrealized

109,718

(43,205

)

Net realized loss on investment in KR Master Fund

(87,100

)

(283,163

)

Net realized gain (loss) on investment in Cambridge Master Fund

(1,269,753

)

286,885

Net change in unrealized appreciation (depreciation) on investment in KR Master Fund

32,922

(250,562

)

Net change in unrealized depreciation on investment in Cambridge Master Fund

(49,372

)

(178,159

)

Total Trading Results

(1,373,317

)

(23,730

)

Fair_Value_Measurements_and_Di1

Fair Value Measurements and Disclosures (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Measurements and Disclosures [Abstract]	'
Assets and Liabilities Measured at Fair Value on a Recurring Basis	'
	The Partnership’s assets and liabilities measured at fair value on a recurring basis are summarized in the following tables by the type of inputs applicable to the fair value measurements.
	30-Sep-14	Unadjusted Quoted				Significant				Significant Unobservable Inputs			Total
		Prices in Active				Other				(Level 3)
		Markets for				Observable Inputs
		Identical Assets				(Level 2)
		(Level 1)
		$				$				$			$
	Assets
	Investment in Cambridge Master Fund		–				12,239,760				n/a			12,239,760
	Investment in KR Master Fund		–				2,695,183				n/a			2,695,183
	Total Assets		–				14,934,943				n/a			14,934,943
		Unadjusted Quoted				Significant				Significant			Total
	31-Dec-13	Prices in Active				Other				Unobservable
		Markets for				Observable				Inputs
		Identical Assets				Inputs				(Level 3)
		(Level 1)				(Level 2)
		$				$				$			$
	Assets
	Investment in Cambridge Master Fund		–				11,299,138				n/a			11,299,138
	Investment in KR Master Fund		–				7,290,317				n/a			7,290,317
	Total Assets		–				18,589,455				n/a			18,589,455
Schedule of Assets, Liabilities and Capital Investments	'
	Summarized information, reflecting the total assets, liabilities and capital of Cambridge Master Fund and KR Master Fund as of September 30, 2014 and December 31, 2013, is shown in the following tables.
		30-Sep-14
		Total Assets				Total Liabilities				Total Capital
	KR Master Fund	$	17,814,376			$	231,382			$	17,582,994
	Cambridge Master Fund		43,328,564				49,350				43,279,214
		$	61,142,940			$	280,732			$	60,862,208
		31-Dec-13
		Total Assets				Total Liabilities				Total Capital
	KR Master Fund	$	44,043,845			$	1,456,785			$	42,587,060
	Cambridge Master Fund		37,549,964				28,580				37,521,384
		$	81,593,809			$	1,485,365			$	80,108,444
Summary of Partnership's Investments	'
	Summarized information for the Partnership’s investment in, as of September 30, 2014 and December 31, 2013, and operations of, Cambridge Master Fund and KR Master Fund, for the three and nine months ended September 30, 2014 and 2013 is shown in the following tables:
		30-Sep-14								31-Dec-13
	Investment	% of				Fair				% of			Fair
		Partnership				Value				Partnership			Value
		Net Assets								Net Assets
		%				$				%			$
	Cambridge Master Fund		86.2				12,239,760				62.9			11,299,138
	KR Master Fund		19				2,695,183				40.6			7,290,317
		For the three months ended September 30, 2014							For the nine months ended September 30, 2014
	Investment	Partnership’s			Investment		Redemption		Partnership’s			Investment	Redemption
		pro rata			Objective		Permitted		pro rata			Objective	Permitted
		Net Income/(Loss)							Net Income
		$							$
	Cambridge Master Fund		1,877,025		Commodity Portfolio		Monthly			1,911,554		Commodity Portfolio	Monthly
	KR Master Fund		48,476		Commodity Portfolio		Monthly			241,708		Commodity Portfolio	Monthly
		For the three months ended September 30, 2013							For the nine months ended September 30, 2013
	Investment	Partnership’s			Investment		Redemption		Partnership’s			Investment	Redemption
		pro rata			Objective		Permitted		pro rata			Objective	Permitted
		Net Loss							Net
									Income/(Loss)
		$							$
	Cambridge Master Fund		(1,319,124	)	Commodity Portfolio		Monthly			108,727		Commodity Portfolio	Monthly
	KR Master Fund		(54,178	)	Commodity Portfolio		Monthly			(533,725	)	Commodity Portfolio	Monthly
Income Statement Information of Investments	'
	The tables below represent summarized Income Statement information for Cambridge Master Fund and KR Master Fund for the three and nine months ended September 30, 2014 and 2013, to meet the requirements of Regulation S-X rule 3-09:
	For the Three Months	Investment				Net				Total			Net Income
	Ended September 30, 2014	Income				Investment Loss				Trading Results
		$				$				$			$
	Cambridge Master Fund		1,114				(54,962	)			6,532,519			6,477,557
	KR Master Fund		503				(35,293	)			339,818			304,525
	For the Nine Months	Investment				Net				Total			Net
	Ended September 30, 2014	Income				Investment Loss				Trading Results			Income
		$				$				$			$
	Cambridge Master Fund		5,541				(121,681	)			6,865,193			6,743,512
	KR Master Fund		3,374				(125,271	)			1,438,550			1,313,279
	For the Three Months	Investment				Net				Total			Net Loss
	Ended September 30, 2013	Income				Investment Loss				Trading Results
		$				$				$			$
	Cambridge Master Fund		1,382				(9,603	)			(3,121,089	)		(3,130,692	)
	KR Master Fund		2,745				(71,980	)			(404,809	)		(476,789	)
	For the Nine Months	Investment				Net				Total			Net
	Ended September 30, 2013	Income				Investment Loss				Trading Results			Income/(Loss)
		$				$				$			$
	Cambridge Master Fund		5,474				(38,020	)			79,930			41,910
	KR Master Fund		20,071				(235,574	)			(4,932,402	)		(5,167,976	)

Organization_Details

Organization (Details)	9 Months Ended	1 Months Ended
	Sep. 30, 2014	Nov. 12, 2014
		Subsequent Events [Member]
Organization [Abstract]	'	'
Annualized flat rate brokerage fee (in hundredths)	3.60%	'
Annualized general partner administrative fee (in hundredths)	'	1.60%
Annualized placement agent fee (in hundredths)	'	2.00%

Financial_Highlights_Details

Financial Highlights (Details) (USD $)	3 Months Ended				9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Per Unit operating performance: [Abstract]	'		'		'		'
Net asset value at the beginning of the period (in dollars per unit)	$7.29		$7.74		$7.39		$7.57
Interest Income (in dollars per unit)	$0	[1]	$0	[1]	$0	[1]	$0	[1]
Expenses (in dollars per unit)	($0.17)		($0.12)		($0.37)		($0.42)
Realized/Unrealized Income (Loss) (in dollars per unit)	$1.06	[2]	($0.51)	[2]	$1.16	[2]	($0.04)	[2]
Net Income (Loss) (in dollars per unit)	$0.89	[3]	($0.63)	[3]	$0.79	[3]	($0.46)	[3]
Net asset value at the end of the period (in dollars per unit)	$8.18		$7.11		$8.18		$7.11
Ratios to average net assets: [Abstract]	'		'		'		'
Net Investment Loss (in hundredths)	-5.90%	[4]	-6.50%	[4]	-6.40%	[4]	-7.30%	[4]
Expenses before Incentive Fees (in hundredths)	4.90%	[4]	6.60%	[4]	5.50%	[4]	6.50%	[4]
Expenses after Incentive Fees (in hundredths)	5.90%	[4]	6.60%	[4]	6.40%	[4]	7.30%	[4]
Total return before incentive fees (in hundredths)	13.20%		-8.10%		11.60%		-5.30%
Total return after incentive fees (in hundredths)	12.20%		-8.10%		10.70%		-6.10%
[1]	Amount less than $0.005 per Unit.
[2]	Realized/Unrealized Income (Loss) is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per Unit information.
[3]	Based on change in net asset value per Unit.
[4]	Annualized (except for incentive fees if applicable).

Related_Party_Transactions_Det

Related Party Transactions (Details)	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Cash holdings percentage for margin requirements used in interest income calculation (in hundredths)	100.00%
Percentage of monthly average of 4-week U.S. treasury bill discount rate as rate from partnership interest income (in hundredths)	80.00%

Derivatives_and_Hedging_Effect

Derivatives and Hedging, Effect of Trading Activities (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Commodity [Member]

Commodity [Member]

Foreign Currency [Member]

Foreign Currency [Member]

Options [Member]

KR Master Fund [Member]

KR Master Fund [Member]

Cambridge Master Fund [Member]

Cambridge Master Fund [Member]

Futures and Forward Contracts [Member]

Futures and Forward Contracts [Member]

Futures and Forward Contracts [Member]

Futures and Forward Contracts [Member]

Futures and Forward Contracts [Member]

Futures and Forward Contracts [Member]

Foreign Currency [Member]

Long [Member]

Long [Member]

Short [Member]

Short [Member]

Contract

Foreign Currency [Member]

Foreign Currency [Member]

Futures and Forward Contracts [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized gain

'

'

'

'

'

'

'

'

'

'

'

'

'

$0

$0

$0

$0

Unrealized loss

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

0

0

Net Unrealized Gain

'

'

'

'

'

'

'

'

'

'

'

0

0

'

'

'

'

Unrealized currency gain (loss)

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

'

'

Total net unrealized gain (loss) on open contracts

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

'

'

Options Contracts at Fair Value [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options purchased

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

Average number of contracts outstanding

'

'

'

'

'

'

'

'

'

'

'

'

826

'

'

'

'

Effect of Trading Activities on Statements of Income [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Trading results

'

'

-54,747

-532,816

-1,401,841

510,918

'

'

'

'

'

'

'

'

'

'

'

Unrealized currency gain (loss)

83,271

-1,832

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net realized

-109,732

444,474

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net change in unrealized

109,718

-43,205

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net realized gain (loss) on investment

'

'

'

'

'

'

'

-87,100

-283,163

-1,269,753

286,885

'

'

'

'

'

'

Net change in unrealized appreciation (depreciation) on investment

'

'

'

'

'

'

'

32,922

-250,562

-49,372

-178,159

'

'

'

'

'

'

Total Trading Results

($1,373,317)

($23,730)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair_Value_Measurements_and_Di2

Fair Value Measurements and Disclosures (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Investments [Abstract]	'	'	'	'	'
Total Assets	$61,142,940	'	$61,142,940	'	$81,593,809
Total Liabilities	280,732	'	280,732	'	1,485,365
Total Capital	60,862,208	'	60,862,208	'	80,108,444
Summarized Information of Investments [Abstract]	'	'	'	'	'
Fair value	14,934,943	'	14,934,943	'	18,589,455
Fair Value Measured on a Recurring Basis [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Total Assets	14,934,943	'	14,934,943	'	18,589,455
Fair Value Measured on a Recurring Basis [Member] | Unadjusted Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Total Assets	0	'	0	'	0
Fair Value Measured on a Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Total Assets	14,934,943	'	14,934,943	'	18,589,455
Fair Value Measured on a Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Total Assets	'	'	'	'	'
KR Master Fund [Member]	'	'	'	'	'
Investments [Abstract]	'	'	'	'	'
Total Assets	17,814,376	'	17,814,376	'	44,043,845
Total Liabilities	231,382	'	231,382	'	1,456,785
Total Capital	17,582,994	'	17,582,994	'	42,587,060
Summarized Information of Investments [Abstract]	'	'	'	'	'
Percentage of partnership net assets (in hundredths)	19.00%	'	19.00%	'	40.60%
Fair value	2,695,183	'	2,695,183	'	7,290,317
Partnership's pro rata Net Income/(Loss)	48,476	-54,178	241,708	-533,725	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
Percentage of partnership owned (in hundredths)	15.33%	'	15.33%	'	17.11%
Leverage as percentage of commodity program (in hundredths)	150.00%	'	150.00%	'	'
Income Statement Information for Investments [Abstract]	'	'	'	'	'
Investment Income	503	2,745	3,374	20,071	'
Net Investment Loss	-35,293	-71,980	-125,271	-235,574	'
Total Trading Results	339,818	-404,809	1,438,550	-4,932,402	'
Net Income/(Loss)	304,525	-476,789	1,313,279	-5,167,976	'
KR Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	2,695,183	'	2,695,183	'	7,290,317
Summarized Information of Investments [Abstract]	'	'	'	'	'
Fair value	2,695,183	'	2,695,183	'	7,290,317
KR Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member] | Unadjusted Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	0	'	0	'	0
KR Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	2,695,183	'	2,695,183	'	7,290,317
KR Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	'	'	'	'	'
Cambridge Master Fund [Member]	'	'	'	'	'
Investments [Abstract]	'	'	'	'	'
Total Assets	43,328,564	'	43,328,564	'	37,549,964
Total Liabilities	49,350	'	49,350	'	28,580
Total Capital	43,279,214	'	43,279,214	'	37,521,384
Summarized Information of Investments [Abstract]	'	'	'	'	'
Percentage of partnership net assets (in hundredths)	86.20%	'	86.20%	'	62.90%
Fair value	12,239,760	'	12,239,760	'	11,299,138
Partnership's pro rata Net Income/(Loss)	1,877,025	-1,319,124	1,911,554	108,727	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
Percentage of partnership owned (in hundredths)	28.28%	'	28.28%	'	30.11%
Income Statement Information for Investments [Abstract]	'	'	'	'	'
Investment Income	1,114	1,382	5,541	5,474	'
Net Investment Loss	-54,962	-9,603	-121,681	-38,020	'
Total Trading Results	6,532,519	-3,121,089	6,865,193	79,930	'
Net Income/(Loss)	6,477,557	-3,130,692	6,743,512	41,910	'
Cambridge Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	12,239,760	'	12,239,760	'	11,299,138
Summarized Information of Investments [Abstract]	'	'	'	'	'
Fair value	12,239,760	'	12,239,760	'	11,299,138
Cambridge Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member] | Unadjusted Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	0	'	0	'	0
Cambridge Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	12,239,760	'	12,239,760	'	11,299,138
Cambridge Master Fund [Member] | Fair Value Measured on a Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]	'	'	'	'	'
Assets [Abstract]	'	'	'	'	'
Investment	'	'	'	'	'