WHEAT - KANSAS CITY BOARD OF TRADE
OPTION AND FUTURES COMBINED 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:       72,981
COMMITMENTS
   9,675   17,752    6,608   43,946   34,073   60,229   58,434   12,752   14,547

CHANGES FROM 01/04/05 (CHANGE IN OPEN INTEREST:     -5,357)
  -1,491   -9,428      -60   -4,427    3,589   -5,979   -5,900      622      543

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    13.3     24.3      9.1     60.2     46.7     82.5     80.1     17.5     19.9

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      150)
      27       38       21       66       56      103      106
 

Updated January 11, 2005