WHEAT - KANSAS CITY BOARD OF TRADE                                                                            
Commitments of Traders with Delta-adjusted Options and Futures Combined, February 15, 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  :    87,941:     9,508     26,778      9,797     49,185     31,171     68,490     67,746:    19,450     20,195
Old  :    58,608:     8,390     23,140      3,935     33,976     17,758     46,300     44,833:    12,308     13,776
Other:    29,332:     3,072      5,591      3,909     15,209     13,413     22,190     22,913:     7,142      6,419
     :          :                                                                            :
     :          :          Changes in Commitments from: February 8, 2005                     :
     :    -1,117:       382       -936        387     -2,548        125     -1,778       -425:       661       -692
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      10.8       30.4       11.1       55.9       35.4       77.9       77.0:      22.1       23.0
Old  :     100.0:      14.3       39.5        6.7       58.0       30.3       79.0       76.5:      21.0       23.5
Other:     100.0:      10.5       19.1       13.3       51.9       45.7       75.7       78.1:      24.3       21.9
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       121:        24         38         30         47         34         83         95:
Old  :       111:        29         29         21         43         30         77         76:
Other:        69:         9         23         15         25         22         43         53:
     :----------------------------------------------------------------------------------------------------
     :             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  :                 23.1       18.4       34.0       29.9       16.3       13.1       24.8       21.6
Old  :                 28.7       18.1       39.0       31.7       25.0       18.1       35.0       30.4
Other:                 31.2       31.3       45.6       42.3       26.9       28.6       39.0       37.3
 
 

Updated February 18, 2005