WHEAT - MINNEAPOLIS GRAIN EXCHANGE
FUTURES ONLY POSITIONS AS OF 01/25/05                         |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  LONG  | SHORT  |SPREADS |  LONG  | SHORT  |  LONG  | SHORT  |  LONG  | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF 5,000 BUSHELS)                         OPEN INTEREST:       40,736
COMMITMENTS
   1,239    9,625    1,354   26,983   21,254   29,576   32,233   11,160    8,503

CHANGES FROM 01/18/05 (CHANGE IN OPEN INTEREST:      4,286)
     259   -1,062      144    1,034    4,072    1,437    3,154    2,849    1,132

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
     3.0     23.6      3.3     66.2     52.2     72.6     79.1     27.4     20.9

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       53)
       7       15        5       26       23       34       42
 

Updated January 28, 2005