WHEAT - KANSAS CITY BOARD OF TRADE
FUTURES ONLY POSITIONS AS OF 01/18/05                         |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  LONG  | SHORT  |SPREADS |  LONG  | SHORT  |  LONG  | SHORT  |  LONG  | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF 5,000 BUSHELS)                         OPEN INTEREST:       69,078
COMMITMENTS
  11,884   18,291    4,534   39,492   31,161   55,910   53,986   13,168   15,092

CHANGES FROM 01/11/05 (CHANGE IN OPEN INTEREST:      2,136)
   1,457      661    1,187   -1,931   -1,084      713      764    1,423    1,372

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
    17.2     26.5      6.6     57.2     45.1     80.9     78.2     19.1     21.8

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      152)
      34       31       20       62       57      104      103
 

Updated January 21, 2005