WHEAT - KANSAS CITY BOARD OF TRADE
OPTION AND FUTURES COMBINED 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:       75,162
COMMITMENTS
  11,112   18,338    7,920   42,014   32,962   61,047   59,220   14,115   15,942

CHANGES FROM 01/11/05 (CHANGE IN OPEN INTEREST:      2,182)
   1,437      586    1,312   -1,931   -1,111      818      787    1,364    1,395

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    14.8     24.4     10.5     55.9     43.9     81.2     78.8     18.8     21.2

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      153)
      32       34       24       65       58      108      108
 

Updated January 21, 2005