WHEAT - MINNEAPOLIS GRAIN EXCHANGE
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:       36,450
COMMITMENTS
     980   10,687    1,210   25,949   17,182   28,139   29,079    8,311    7,371

CHANGES FROM 01/11/05 (CHANGE IN OPEN INTEREST:      1,297)
     158      -53      138      453      401      749      486      548      811

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
     2.7     29.3      3.3     71.2     47.1     77.2     79.8     22.8     20.2

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       70)
       8       20        6       34       26       45       50
 

Updated January 21, 2005