WHEAT - MINNEAPOLIS GRAIN EXCHANGE                                                                            
Commitments of Traders with Delta-adjusted Options and Futures Combined, February 22, 2005               
-------------------------------------------------------------------------------------------------------------------
     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
-------------------------------------------------------------------------------------------------------------------
     :          : (CONTRACTS OF 5,000 BUSHELS)                                               :
     :          :                                                                            :
All  :    40,045:       890      8,046      2,405     23,975     17,870     27,269     28,321:    12,775     11,724
Old  :    32,725:     1,346      7,829      1,406     19,250     13,219     22,002     22,454:    10,723     10,271
Other:     7,319:       219        892        325      4,724      4,651      5,267      5,867:     2,052      1,452
     :          :                                                                            :
     :          :          Changes in Commitments from: February 15, 2005                    :
     :    -2,813:       238     -2,032       -553     -1,165       -628     -1,480     -3,213:    -1,333        400
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:       2.2       20.1        6.0       59.9       44.6       68.1       70.7:      31.9       29.3
Old  :     100.0:       4.1       23.9        4.3       58.8       40.4       67.2       68.6:      32.8       31.4
Other:     100.0:       3.0       12.2        4.4       64.5       63.5       72.0       80.2:      28.0       19.8
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :        48:         6         17          8         21         18         31         40:
Old  :        48:         8         15          7         20         18         30         39:
Other:        24:         3          4          5         11         12         16         19:
     :----------------------------------------------------------------------------------------------------
     :             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  :                 34.2       25.9       49.9       42.1       22.5       16.8       31.9       25.6
Old  :                 39.5       26.6       50.7       43.3       23.0       21.4       32.1       29.7
Other:                 44.8       44.8       63.5       66.4       42.0       41.9       56.0       59.6
 
 

Updated February 25, 2005