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 *
CLOUD L CRAY JR
 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)
Chairman of the Board
(Last)
(First)
(Middle)

1300 MAIN STREET, P.O. BOX 130		 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 05/17/2003   G 12,791 D $ 0 0 D  
Common Stock 05/17/2004   G 12,791 A $ 0 1,353,981 I by Trust
Common Stock 12/09/2003   G 916 D $ 0 8,147 I by Family Foundation
Common Stock             237,756 I by Spouse's Trust
Common Stock             108,000 I by Trust 1
Common Stock             45,000 I by Trust 8
Common Stock             45,000 I by Trust 9
Common Stock             45,000 I by Trust 10
Common Stock             10,694 (1) I by ESPP
Common Stock             70,500 (2) I by ESOP
Preferred Stock             333 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
Stock Option $ 16.25           04/11/1997 10/11/2006 Common Stock
1,000
  0
D
 
Stock Option $ 14.25           04/09/1998 10/09/1997 Common Stock
1,000
  0
D
 
Stock Option $ 11.75           04/08/1999 10/08/2008 Common Stock
1,000
  0
D
 
Stock Option $ 9           04/13/2000 10/13/2009 Common Stock
1,000
  0
D
 
Stock Option $ 9.625           04/12/2001 10/12/2010 Common Stock
1,000
  0
D
 
Stock Option $ 11.15           04/11/2002 10/11/2011 Common Stock
1,000
  0
D
 
Stock Option $ 6.50           04/11/2003 10/11/2012 Common Stock
1,000
  0
D
 
Stock Option $ 8.75           04/10/2004 10/10/2013 Common Stock
1,000
  0
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
CLOUD L CRAY JR
1300 MAIN STREET
P.O. BOX 130
ATCHISON, KS 66002		   X     Chairman of the Board  

Signatures

Cloud L. Cray, Jr. 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 912 shares acquired between the period of 7/1/03 and 6/30/04 under ESPP in a transaction exempt under 16b-3(c).
(2) Includes 320 shares acquired between the period of 7/1/03 - 6/30/04 under ESOP in a transaction exempt undr 16b-3(c).

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

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