WHEAT - MINNEAPOLIS GRAIN EXCHANGE
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:       37,032
COMMITMENTS
     104   10,681    2,088   26,469   17,031   28,662   29,800    8,371    7,232

CHANGES FROM 01/04/05 (CHANGE IN OPEN INTEREST:        132)
    -358      -42     -657      961      531      -54     -169      186      300

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
     0.3     28.8      5.6     71.5     46.0     77.4     80.5     22.6     19.5

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       68)
       6       22        9       35       24       44       52
 

Updated January 11, 2005