WHEAT - KANSAS CITY BOARD OF TRADE                                                                            
Commitments of Traders - Futures Only, January 18, 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  :    69,078:    11,884     18,291      4,534     39,492     31,161     55,910     53,986:    13,168     15,092
Old  :    53,237:    11,957     18,083      1,334     30,423     22,205     43,714     41,622:     9,523     11,615
Other:    15,841:     1,695      1,976      1,432      9,069      8,956     12,196     12,364:     3,645      3,477
     :          :                                                                            :
     :          :          Changes in Commitments from: January 11, 2005                     :
     :     2,136:     1,457        661      1,187     -1,931     -1,084        713        764:     1,423      1,372
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      17.2       26.5        6.6       57.2       45.1       80.9       78.2:      19.1       21.8
Old  :     100.0:      22.5       34.0        2.5       57.1       41.7       82.1       78.2:      17.9       21.8
Other:     100.0:      10.7       12.5        9.0       57.3       56.5       77.0       78.1:      23.0       21.9
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       152:        34         31         20         62         57        104        103:
Old  :       147:        33         31         10         57         48         94         85:
Other:        75:        14         10          6         26         38         43         52:
     :----------------------------------------------------------------------------------------------------
     :             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  :                 23.6       21.6       33.7       34.0       19.1       16.8       27.4       27.4
Old  :                 26.9       23.1       38.8       37.2       26.7       23.0       37.6       37.0
Other:                 34.1       42.2       51.8       56.1       32.4       37.1       43.3       44.9
 
 

Updated January 21, 2005