FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
SEABERG LAIDACKER M
 2. Issuer Name and Ticker or Trading Symbol
MGP INGREDIENTS INC [MGPI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President/CEO
(Last)
(First)
(Middle)

1300 MAIN STREET		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
06/30/2004
(Street)


ATCHISON, KS 66002		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 12/09/2003   G 1,000 A $ 0 406,268 I by Trust
Common Stock 12/04/2003   G 3,600 D $ 0 403,268 I by Trust
Common Stock 03/30/2004   G 2,505 D $ 0 400,763 I by Trust
Common Stock 06/07/2004   G 1,466 D $ 0 399,297 I by Trust
Common Stock 12/09/2003   G 1,000 A $ 0 109,635 I by Spouse's trust
Common Stock             70,906 (1) I bu ESOP
Common Stock             9,515 (2) I by ESPP
Preferred Stock             71 D  
Preferred Stock             221 I by Cray Family Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (NQ) $ 13.75             (3) 12/11/2007 Common Stock
17,500
  0
D
 
Employee Stock Option $ 13.75             (4) 12/11/2007 Common Stock
6,500
  0
D
 
Employee Stock Option $ 12.50             (5) 12/10/2008 Common Stock
7,300
  0
D
 
Employee Stock Option (NQ) $ 12.50             (6) 12/09/2009 Common Stock
16,700
  0
D
 
Employee Stock Option (NQ) $ 8             (7) 12/09/2009 Common Stock
18,000
  0
D
 
Employee Stock Option $ 8             (8) 12/09/2009 Common Stock
6,000
  0
D
 
Employee Stock Option $ 9.3125             (9) 06/08/2011 Common Stock
12,000
  0
D
 
Employee Stock Option (NQ) $ 9.3125             (10) 06/08/2011 Common Stock
12,000
  0
D
 
Employee Stock Option $ 12.89             (11) 06/12/2012 Common Stock
18,742
  0
D
 
Employee Stock Option (NQ) $ 12.89             (12) 06/12/2012 Common Stock
5,258
  0
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SEABERG LAIDACKER M
1300 MAIN STREET
ATCHISON, KS 66002		   X     President/CEO  

Signatures

Laidacker M. Seaberg 06/30/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 484 shares acquired between the period of 7/1/03 - 6/30/04 under ESOP in a transaction exempt under 16b-3(c).
(2) Includes 296 shares acquired between the period of 7/1/03 - 6/30/04 under ESPP in a transaction exempt under 16b-3(c).
(3) 6,000 shares vested on 12/11/98; 6000 on 12/11/99; 5,500 on 12/11/00
(4) 500 vested on 12/11/00; 6,000 on 12/11/01
(5) 1,300 shares vested on 12/10/01; 6,000 on 12/10/02
(6) 6,000 vested on 12/10/99; 6,000 vested on 12/10/00; 4,700 vested on 12/10/01
(7) 6,000 shares vested on 12/9/00 and 12/9/01; 3,000 shares vested on 12/9/02 and 12/9/03
(8) 3,000 shares vested on 12/9/02; 3,000 shares vested on 12/9/03
(9) 6,000 shares vested on 6/8/04; 6,000 vest on 6/8/05
(10) 6,000 shares vested on 6/8/02; 6,000 shares vested on 6/8/03
(11) 5,896 vested on 6/12/03; 3,423 vested on 6/12/04; 3,423 vest on 6/12/05; 6,000 vest on 6/12/06
(12) 104 shares vested on 6/12/03; 2,577 vested on 6/12/04; 2,577 vest on 6/12/05

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