WHEAT - KANSAS CITY BOARD OF TRADE                                                                            
Commitments of Traders with Delta-adjusted Options and Futures Combined, February 1, 2005                
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     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
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     :          : (CONTRACTS OF 5,000 BUSHELS)                                               :
     :          :                                                                            :
All  :    80,765:     8,112     26,067      8,084     47,770     27,693     63,966     61,843:    16,798     18,921
Old  :    58,842:     7,997     24,351      3,307     36,320     17,064     47,624     44,722:    11,218     14,120
Other:    21,922:     1,911      3,511      2,981     11,450     10,629     16,342     17,121:     5,580      4,801
     :          :                                                                            :
     :          :          Changes in Commitments from: January 25, 2005                     :
     :     8,142:      -371      7,535        835      6,964     -1,391      7,427      6,978:       715      1,164
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      10.0       32.3       10.0       59.1       34.3       79.2       76.6:      20.8       23.4
Old  :     100.0:      13.6       41.4        5.6       61.7       29.0       80.9       76.0:      19.1       24.0
Other:     100.0:       8.7       16.0       13.6       52.2       48.5       74.5       78.1:      25.5       21.9
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       117:        21         37         23         48         38         78         91:
Old  :       114:        24         34         17         45         37         74         83:
Other:        64:         8         18         12         26         24         41         47:
     :----------------------------------------------------------------------------------------------------
     :             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  :                 24.6       19.1       36.2       30.4       16.5       13.5       24.5       22.1
Old  :                 30.9       18.5       41.6       31.1       26.6       18.5       36.5       30.5
Other:                 31.4       39.2       48.5       53.3       30.4       37.5       40.1       43.8
 
 

Updated February 4, 2005