WHEAT - MINNEAPOLIS GRAIN EXCHANGE                                                                            
Commitments of Traders - Futures Only, January 4, 2005                 
-------------------------------------------------------------------------------------------------------------------
     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
-------------------------------------------------------------------------------------------------------------------
     :          : (CONTRACTS OF 5,000 BUSHELS)                                               :
     :          :                                                                            :
All  :    35,159:     1,030     10,730      1,874     24,672     16,284     27,576     28,888:     7,583      6,271
Old  :    32,832:     1,962     10,698        847     23,034     15,613     25,843     27,158:     6,989      5,674
Other:     2,327:        41      1,005         54      1,638        671      1,733      1,730:       594        597
     :          :                                                                            :
     :          :          Changes in Commitments from: December 28, 2004                    :
     :     1,416:      -323        971         36      1,999        688      1,712      1,695:      -296       -279
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:       2.9       30.5        5.3       70.2       46.3       78.4       82.2:      21.6       17.8
Old  :     100.0:       6.0       32.6        2.6       70.2       47.6       78.7       82.7:      21.3       17.3
Other:     100.0:       1.8       43.2        2.3       70.4       28.8       74.5       74.3:      25.5       25.7
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :        76:        10         23          9         36         22         49         52:
Old  :        75:        12         21          7         35         20         48         48:
Other:        30:         4          5          2         12         12         18         17:
     :----------------------------------------------------------------------------------------------------
     :             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  :                 38.3       33.0       49.9       49.5       19.4       20.1       27.0       29.9
Old  :                 40.5       34.8       51.0       52.4       19.6       21.7       28.0       32.1
Other:                 49.7       56.7       63.9       68.6       42.1       51.2       54.4       59.0
 
 

Updated January 7, 2005