WHEAT - KANSAS CITY BOARD OF TRADE                                                                            
Commitments of Traders - Futures Only, January 11, 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  :    66,942:    10,427     17,630      3,347     41,423     32,245     55,197     53,222:    11,745     13,720
Old  :    52,746:    10,231     17,430        789     33,019     23,656     44,039     41,875:     8,707     10,871
Other:    14,196:     1,465      1,469      1,289      8,404      8,589     11,158     11,347:     3,038      2,849
     :          :                                                                            :
     :          :          Changes in Commitments from: January 4, 2005                      :
     :    -5,354:    -1,634     -9,517         36     -4,279      3,589     -5,877     -5,892:       523        538
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      15.6       26.3        5.0       61.9       48.2       82.5       79.5:      17.5       20.5
Old  :     100.0:      19.4       33.0        1.5       62.6       44.8       83.5       79.4:      16.5       20.6
Other:     100.0:      10.3       10.3        9.1       59.2       60.5       78.6       79.9:      21.4       20.1
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       148:        30         33         17         62         55         97        101:
Old  :       144:        28         33          7         57         46         87         84:
Other:        71:        12         10          6         23         36         38         50:
     :----------------------------------------------------------------------------------------------------
     :             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  :                 25.2       23.5       35.9       36.6       20.6       19.1       29.8       29.7
Old  :                 29.1       26.2       40.8       40.9       28.5       25.8       39.9       39.2
Other:                 35.1       40.2       52.1       55.2       34.2       33.3       44.0       42.4
 
 

Updated January 11, 2005