WHEAT - MINNEAPOLIS GRAIN EXCHANGE
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:       38,302
COMMITMENTS
     266   10,581    2,234   26,872   17,418   29,373   30,233    8,929    8,069

CHANGES FROM 01/11/05 (CHANGE IN OPEN INTEREST:      1,270)
     162     -100      146      403      387      711      433      559      837

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
     0.7     27.6      5.8     70.2     45.5     76.7     78.9     23.3     21.1

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       70)
       6       22       10       35       27       46       55
 

Updated January 21, 2005