WHEAT - KANSAS CITY BOARD OF TRADE                                                                            
Commitments of Traders with Delta-adjusted Options and Futures Combined, March 1, 2005                   
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     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
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     :          : (CONTRACTS OF 5,000 BUSHELS)                                               :
     :          :                                                                            :
All  :    73,112:    14,581      7,054      5,886     37,615     39,262     58,082     52,203:    15,030     20,909
Old  :    40,827:    11,048      3,674      1,756     19,645     23,678     32,450     29,108:     8,377     11,719
Other:    32,285:     3,891      3,739      3,771     17,969     15,584     25,632     23,095:     6,653      9,190
     :          :                                                                            :
     :          :          Changes in Commitments from: February 22, 2005                    :
     :    -7,941:     5,275    -13,551     -1,626     -6,721      9,087     -3,072     -6,090:    -4,868     -1,850
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      19.9        9.6        8.1       51.4       53.7       79.4       71.4:      20.6       28.6
Old  :     100.0:      27.1        9.0        4.3       48.1       58.0       79.5       71.3:      20.5       28.7
Other:     100.0:      12.1       11.6       11.7       55.7       48.3       79.4       71.5:      20.6       28.5
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       108:        27         22         18         43         40         80         73:
Old  :        91:        25         14          9         32         37         60         57:
Other:        74:        14         16         14         30         31         49         57:
     :----------------------------------------------------------------------------------------------------
     :             Percent of Open Interest Held by the Indicated Number of the Largest Traders
     :                          By Gross Position                       By Net Position
     :               4 or Less Traders     8 or Less Traders     4 or Less Traders     8 or Less Traders
     :                 Long:     Short       Long      Short:      Long      Short       Long      Short
     :----------------------------------------------------------------------------------------------------
All  :                 21.2       27.2       32.7       37.3       18.6       21.7       27.8       27.1
Old  :                 29.5       25.3       42.2       36.7       29.5       24.2       42.2       32.8
Other:                 29.1       34.0       43.6       45.2       20.1       28.3       33.8       33.2
 
 

Updated March 4, 2005