WHEAT - KANSAS CITY BOARD OF TRADE
OPTION AND FUTURES COMBINED POSITIONS AS OF 01/04/05          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
(CONTRACTS OF 5,000 BUSHELS)                         OPEN INTEREST:       78,338
COMMITMENTS
  11,166   27,180    6,669   48,373   30,485   66,208   64,333   12,130   14,004

CHANGES FROM 12/28/04 (CHANGE IN OPEN INTEREST:      4,836)
    -142    3,656      320    4,785     -462    4,964    3,514     -128    1,322

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    14.3     34.7      8.5     61.7     38.9     84.5     82.1     15.5     17.9

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      153)
      31       38       25       64       53      104      109
 

Updated January 7, 2005