WHEAT - KANSAS CITY BOARD OF TRADE
FUTURES ONLY POSITIONS AS OF 01/11/05                         |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  LONG  | SHORT  |SPREADS |  LONG  | SHORT  |  LONG  | SHORT  |  LONG  | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF 5,000 BUSHELS)                         OPEN INTEREST:       66,942
COMMITMENTS
  10,427   17,630    3,347   41,423   32,245   55,197   53,222   11,745   13,720

CHANGES FROM 01/04/05 (CHANGE IN OPEN INTEREST:     -5,354)
  -1,634   -9,517       36   -4,279    3,589   -5,877   -5,892      523      538

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
    15.6     26.3      5.0     61.9     48.2     82.5     79.5     17.5     20.5

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      148)
      30       33       17       62       55       97      101
 

Updated January 11, 2005