Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Minneapolis Grain Exchange Announces New Margin Requirements

Date 05/08/2004

The Minneapolis Grain Exchange (MGEX) Board of Directors has approved margin requirements and spread credits for the futures contracts listed below, effective August 6, 2004.

Speculative Margins

Initial (per contract)

Maintenance (per contract)

National Corn Index (NCI)

$390

$300

National Soybean Index (NSI)

$650

$500

Hard Winter Wheat Index (HWI)

$650 (down from $943)

$500 (down from 725)

Spring Wheat

$650 (down from $943)

$500 (down from 725)

Hedge Margins

National Corn Index (NCI)

$300

$300

National Soybean Index (NSI)

$500

$500

Hard Winter Wheat Index (HWI)

$500 (down from 725)

$500 (down from 725)

Spring Wheat

$500 (down from 725)

$500 (down from 725)

Inter-Commodity Spreads

Spread Credit % Savings

NCI vs. NSI

50%

HWI vs. Spring Wheat

100%

Inter-Exchange Spreads-MGEX Side

MGEX NCI vs. CBOT Corn

100%

MGEX NSI vs. CBOT Soybeans

100%

MGEX HWI vs. CBOT Wheat

100%

MGEX HWI vs. KCBT Wheat

100%

MGEX Spring Wheat vs. CBOT Wheat

60%

MGEX Spring Wheat vs. KCBT Wheat

60%

MGEX, established in 1881, is the only market for hard red spring wheat, Hard Winter Wheat Index (HWI), National Corn Index (NCI) and National Soybean Index (NSI) futures and options. For more information about MGEX, visit www.mgex.com.