FORM 10-Q
                                UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549


            [X]  Quarterly Report Pursuant to Section 13 or 15(d)
                   of the Securities Exchange Act of 1934

               For the Quarterly Period Ended:  September 30, 2003
                                     or
           [ ]   Transition Report Pursuant to Section 13 or 15(d)
                   of the Securities Exchange Act of 1934


                        Commission File Number: 0-26932

                      THE MILLBURN WORLD RESOURCE TRUST
           (Exact name of registrant as specified in its charter)

              Delaware                                    06-6415583
  (State or other jurisdiction of                      (I.R.S. Employer
    incorporation or organization)                     Identification No.)

                     c/o MILLBURN RIDGEFIELD CORPORATION
                           411 West Putnam Avenue
                        Greenwich, Connecticut  06830
                  (Address of principal executive offices)

Registrant's telephone number, including area code: (203) 625-7554

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant               Units of Beneficial Interest
   to Section 12(g) of the Act:                     (Title of Class)

Indicate by check mark whether the registrant (1) filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

          Yes    [X]                                      No    [ ]

Indicate by check mark whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Exchange Act).

          Yes    [ ]                                      No    [X]

Aggregate market value of the voting and non-voting common equity held by
non-affiliates: $19,587,619

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 1
INDEX

Part I - Financial Information
Financial Statements:                                                  Pages
   Statements of Financial Condition at
      September 30, 2003 (unaudited) and December 31, 2002                 1
   Statements of Operations for the Three Months Ended
      September 30, 2003 and 2002 (unaudited)                              3
   Statements of Operations for the Nine Months Ended
      September 30, 2003 and 2002 (unaudited)                              4
   Condensed Schedule of Investments at
      September 30, 2003 (unaudited) and December 31, 2002                 5
   Statements of Trust Capital for the Nine Months
      Ended September 30, 2003 and 2002 (unaudited)                        7
   Financial Highlights for the Three Months Ended
      September 30, 2003 and 2002 (unaudited)                              8
   Financial Highlights for the Nine Months Ended
      September 30, 2003 and 2002 (unaudited)                              9
Notes to Financial Statements (unaudited)                                 10
Part II - Other Information                                               16

<PAGE>

PART I. FINANCIAL INFORMATION
ITEM I. FINANCIAL STATEMENTS
THE MILLBURN WORLD RESOURCE TRUST
Statements of Financial Condition
<TABLE>
<CAPTION>
                                              Sep. 30, 2003      Dec. 31, 2002
                                                        (UNAUDITED)
Assets                                        -------------      -------------
Equity in trading accounts:
<S>                                           <C>                <C>
Due from brokers                              $   265,413       $     460,554
Cash denominated in foreign currencies
 (cost $246,458 and $17,237 at September 30, 2003
 and December 31, 2002)                           233,984              17,325
Investments in U.S. Treasury notes - at
 market value (amortized cost $7,986,901 and
 $4,036,134 at September 30, 2003 and
 December 31, 2002)                              7,961,981          4,039,643
Unrealized appreciation on open contracts          953,972          1,948,618
Unrealized depreciation on open contracts         (147,203)          (600,157)
                                              -------------      -------------
Total equity in trading accounts                 9,268,147          5,865,983

Investments in U.S. Treasury notes - at
 market value (amortized cost $10,829,610 and
 $14,873,155 at September 30, 2003 and
 December 31, 2002)                             10,856,134         14,886,085
Cash and cash equivalents                          235,440            364,855
Due from Unitholder                                      -             23,383
Accrued interest receivable                        196,269            240,922
</TABLE>

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 2
Statements of Financial Condition (continued)
<TABLE>
<CAPTION>

                                              Sep. 30, 2003      Dec. 31, 2002
                                               (UNAUDITED)
                                              -------------      -------------
<S>                                           <C>                <C>
Total assets                                  $ 20,555,990       $ 21,381,228
                                              =============      =============
Liabilities & Trust Capital:

Due to brokers                                $         -        $     77,011
Accrued expenses                                    24,659             46,000
Redemptions payable to Unitholders                 163,626            239,250
Accrued brokerage commissions                      130,762            138,756
                                              -------------      -------------
Total liabilities                                  319,047            501,017

Trust Capital:
   Managing Owner interest                         649,324            576,320
   Unitholders (15,896.448 and 17,431.417
    units of beneficial interest outstanding
    at September 30, 2003 and December 31, 2002
    respectively)                               19,587,619         20,303,891
                                              -------------      -------------
Total trust capital                             20,236,943         20,880,211
                                              -------------      -------------
Total liabilities and trust capital           $ 20,555,990       $ 21,381,228
                                              =============      =============

Net asset value per unit                      $   1,232.20       $   1,164.79
                                              =============      =============
</TABLE>

See accompanying notes


<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 3

Statements of Operations
For the three months ended September 30, 2003 and 2002 (UNAUDITED)

<TABLE>
<CAPTION>
                                                Sep 30, 2003     Sep 30, 2002
                                                ------------     ------------
<S>                                             <C>              <C>
Investment income:
   Interest income                              $    54,692      $    99,412
                                                ------------     ------------
Expenses
   Administrative expenses                           25,755           22,164
   Brokerage commissions                            449,052          542,159
                                                ------------     ------------
      Total expenses                                474,807          564,323
                                                ------------     ------------
      Net investment loss                          (420,115)        (464,911)

Net realized and unrealized gains (losses)
      Net realized gains (losses) on
       closed positions:
         Futures and forward contracts             (442,464)       5,847,079
      Net change in unrealized appreciation
       (depreciation):
         Futures and forward contracts              986,007       (1,771,947)
         Foreign exchange translation                19,691            6,673
      Net gains (losses) from U.S. Treasury notes
       Net change in unrealized appreciation
           (depreciation)                           (12,275)           1,282
      Total net realized and unrealized         ------------     ------------
          gains (losses)                            550,959        4,083,087
                                                ------------     ------------
         Net income (loss)                      $   130,844     $  3,618,176
                                                ------------     ------------
         Net income (loss) per unit of
          beneficial interest                   $      6.26     $     171.80
                                                ------------     ------------
</TABLE>

See accompanying notes


<PAGE>
THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 4
Statements of Operations
For the nine months ended September 30, 2003 and 2002 (UNAUDITED)

<TABLE>
<CAPTION>
                                                Sep 30, 2003     Sep 30, 2002
                                                ------------     ------------
<S>                                             <C>              <C>
Investment income:
   Interest income                              $   207,376      $   381,874
                                                ------------     ------------
Expenses
   Administrative expenses                           77,178           66,487
   Brokerage commissions                          1,386,626        1,584,854
                                                ------------     ------------
      Total expenses                              1,463,804        1,651,341
                                                ------------     ------------
      Net investment loss                        (1,256,428)      (1,269,467)

Net realized and unrealized gains (losses)
      Net realized gains (losses) on
       closed positions:
         Futures and forward contracts            3,139,468        5,981,154
      Net change in unrealized appreciation
       (depreciation):
         Futures and forward contracts             (541,692)         650,588
         Foreign exchange translation                (5,169)           8,665
      Net gains (losses) from U.S. Treasury notes
       Net change in unrealized appreciation
           (depreciation)                           (14,835)         (76,884)
      Total net realized and unrealized         ------------     ------------
          gains (losses)                          2,577,772        6,563,523
                                                ------------     ------------
         Net income (loss)                      $ 1,321,344     $  5,294,056
                                                ------------     ------------
         Net income (loss) per unit of
          beneficial interest                   $     67.41     $     246.68
                                                ------------     ------------
</TABLE>



See accompanying notes

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 5
Condensed Schedule of Investments at September 30, 2003 (UNAUDITED)
<TABLE>
<CAPTION>
                                    Net Unrealized
                                    Appreciation/
                                    (Depreciation)    Net Unrealized
                                  as a percentage of  Appreciation/
  Futures and Forward Contracts     Trust Capital     (Depreciation)
  -----------------------------   ------------------  ---------------
<S>                               <C>                 <C>
   Futures contracts purchased
      Interest rates                      1.03%       $     207,787
      Metals                              1.26%             256,255
      Softs                               0.14%              28,065
        Stock indices                   (0.49)%             (99,823)
                                         ------       ---------------
   Total futures contracts purchased      1.94%             392,284

   Futures contracts sold
      Energies                           (1.17)%           (237,934)
      Grains                               0.19%             38,825
      Interest rates                     (0.16)%            (31,397)
        Softs                             0.00%                 543
        Stock indices                     0.16%              31,749
                                         -------      ---------------
   Total futures contracts sold          (0.98)%           (198,214)
                                         -------      ---------------
         Total investment in futures
          contracts                       0.96%             194,070
                                         -------      ---------------
   Total currency forward contracts
      purchased                           3.83%             775,886

   Total currency forward contracts
      sold                               (0.81)%           (163,187)
                                        -------      ---------------
      Total investment in forward
      contracts                           3.02%             612,699
                                        -------      ---------------
   Total investments in futures and
   forward contracts                      3.98%        $    806,769
                                         =======      ===============
</TABLE>

<TABLE>
<CAPTION>
                                                    Value as a
                                                    % of Trust
Face Amount Investments in U.S. Treasury notes        Capital        Value
----------- --------------------------------------- ------------ -------------
<S>         <C>                                     <C>           <C>
            Government - United States
$6,100,000  U.S. Treasury notes, 2.750%, 10/31/2003    30.18%     $ 6,107,625
 6,350,000  U.S. Treasury notes, 4.750%, 02/15/2004    31.81%       6,437,312
 6,190,000  U.S. Treasury notes, 3.375%, 04/30/2004    31.00%       6,273,178
                                                      -------    ------------
Total investments in U.S. Treasury
     notes (amortized cost $18,816,511)                92.99%    $ 18,818,115
</TABLE>

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 6
Condensed Schedule of Investments at December 31, 2002
<TABLE>
<CAPTION>
                                    Net Unrealized
                                    Appreciation/
                                    (Depreciation)    Net Unrealized
                                  as a percentage of  Appreciation/
  Futures and Forward Contracts     Trust Capital     (Depreciation)
  -----------------------------   ------------------  ---------------
<S>                               <C>                 <C>
   Futures contracts purchased
      Energies                             1.48%       $    308,829
      Interest rates                       3.24%            676,119
        Metals                             0.71%            146,860
        Softs                             (0.01)%            (1,175)
                                          -------      --------------
   Total futures contracts purchased       5.42%          1,130,633
                                          -------      --------------
   Futures contracts sold
        Grains                             0.27%             56,875
        Metals                            (0.26)%           (53,469)
      Softs                                0.06%             12,488
      Stock Indices                        0.30%             62,417
                                          --------     --------------
   Total futures contracts sold            0.37%             78,311
                                          --------     --------------
         Total investment in futures
          contracts                        5.79%          1,208,944
                                          --------     --------------
   Total currency forward contracts
        purchased                          1.26%            261,953
                                          --------     --------------
   Total currency forward contracts
      sold                                (0.59)%          (122,436)
                                          --------     --------------
      Total investment in forward
      contracts                            0.67%            139,517
                                          --------     --------------
   Total investments in futures and
   forward contracts                       6.46%        $ 1,348,461
                                          ========     ==============
</TABLE>
<TABLE>
<CAPTION>
                                                    Value as a
                                                    % of Trust
Face Amount Investments in U.S. Treasury notes        Capital        Value
----------- --------------------------------------  ------------ -------------
<S>         <C>                                     <C>           <C>
            Government - United States
$5,910,000  U.S. Treasury notes, 4.625%, 2/28/2003     28.45%     $ 5,941,397
 6,420,000  U.S. Treasury notes, 4.000%, 4/30/2003     31.03%       6,478,181
 6,410,000  U.S. Treasury notes, 3.875%, 7/31/2003     31.16%       6,506,150
                                                      -------    -------------
             Total investments in U.S. Treasury
                  notes (amortized cost $18,909,289)   90.64%     $18,925,728
</TABLE>

<PAGE>
THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 7
Statement of Trust Capital
For the nine months ended September 30, 2003 (UNAUDITED)
<TABLE>
<CAPTION>
                                        Unit         Managing
                                      Holders          Owner         Total
                                   -------------    ----------   -------------
<S>                                <C>              <C>          <C>
Trust Capital at December 31, 2002
 (17,431.417 Units)                $ 20,303,891     $ 576,320    $ 20,880,211
Addition of 21.324 Units                      -             -               -
Redemption of (1,556.293) Units      (1,964,612)            -      (1,964,612)
Net Income (Loss)                     1,248,340        73,004       1,321,344
                                   -------------    ----------   -------------
Trust Capital at September 30,     $ 19,587,619     $ 649,324    $ 20,236,943
 2003, (15,896.448 Units)          =============    ==========   =============
Net Asset Value per Unit
 at September 30, 2003             $  1,232.20
                                   =============
</TABLE>

Statement of Trust Capital
For the nine months ended September 30, 2002 (UNAUDITED)
<TABLE>
<CAPTION>
                                        Unit         Managing
                                      Holders          Owner         Total
                                   -------------    ----------   -------------
<S>                                <C>              <C>          <C>
Trust Capital at December 31, 2001
 (24,866.853 Units)                $ 24,822,541     $ 900,516    $ 25,723,057
Addition of 306.696 Units               279,812             -         279,812
Redemption of (6,062.083) Units      (6,401,762)     (500,000)     (6,901,762)
Net Income (Loss)                     5,091,298     $ 202,758       5,294,056
                                    ------------    ----------   -------------
Trust Capital at September 30,     $ 23,791,889     $ 603,274    $ 24,395,163
 2002, (19,111.466 Units)          =============    ==========   =============
Net Asset Value per Unit
 at September 30, 2002             $  1,244.90
                                   =============
</TABLE>
See accompanying notes

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 8

Financial Highlights Per Unit Operating Performance for the
three months ended September 30, 2003 and 2002 (unaudited) were as follows:
<TABLE>
<CAPTION>
                                          2003          2002
                                      ------------  ------------
<S>                                   <C>           <C>
Net income (loss) from operations:
   Net investment loss                $    (26.11)    $  (23.19)
Net realized and unrealized gains
 (losses) on trading of futures and
 forward contracts                          33.11        195.09
Net gains (losses) from U.S.
 Treasury obligations                       (0.74)        (0.10)
                                      ------------  ------------
      Net income (loss) per unit             6.26        171.80

Net asset value per Unit,
 beginning of period                     1,225.94      1,073.10
                                      ------------  ------------
Net asset value per Unit,
 end of Period                        $  1,232.20   $  1,244.90
                                      ============  ============
See accompanying notes
</TABLE>

Total return and ratios for the three months ended September 30, 2003
(UNAUDITED):

  Total return:                                        0.51%
  Ratio of expenses to average net assets:             9.38%  (annualized)
  Ratio of net investment loss to average net assets: (8.33)% (annualized)

Total return and ratios for the three months ended September 30, 2002
(UNAUDITED):

  Total return:                                       16.01%
  Ratio of expenses to average net assets:             9.60%  (annualized)
  Ratio of net investment loss to average net assets: (7.94)% (annualized)


See accompanying notes

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                         PAGE 9

Financial Highlights Per Unit Operating Performance for the
nine months ended September 30, 2003 and 2002 (unaudited) were as follows:
<TABLE>
<CAPTION>
                                          2003          2002
                                      ------------  ------------
<S>                                   <C>           <C>
Net income (loss) from operations:
   Net investment loss                $    (75.60)    $  (58.24)
Net realized and unrealized gains
 (losses) on trading of futures and
 forward contracts                         143.89        308.32
Net gains (losses) from U.S.
 Treasury obligations                       (0.88)        (3.40)
                                      ------------  ------------
      Net income (loss) per unit            67.41        246.68

Net asset value per Unit,
 beginning of period                     1,164.79        998.22
                                      ------------  ------------
Net asset value per Unit,
 end of Period                        $  1,232.20   $  1,244.90
                                      ============  ============
See accompanying notes
</TABLE>

Total return and ratios for the nine months ended September 30, 2003
(UNAUDITED):

  Total return:                                        5.79%
  Ratio of expenses to average net assets:             9.38%  (annualized)
  Ratio of net investment loss to average net assets: (8.08)% (annualized)

Total return and ratios for the nine months ended September 30, 2002
(UNAUDITED):

  Total return:                                       24.71%
  Ratio of expenses to average net assets:             9.50%  (annualized)
  Ratio of net investment loss to average net assets: (7.36)% (annualized)


See accompanying notes


<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 10
NOTES TO FINANCIAL STATEMENTS

The accompanying unaudited financial statements, in the opinion of
management, include all adjustments (consisting only of normal recurring
adjustments) necessary for a fair presentation of the Trust's financial
condition at September 30, 2003 (unaudited) and December 31, 2002 and the
results of its operations for the three and nine month periods ended September
30, 2003 and 2002 (unaudited). These financial statements present the results
of interim periods and do not include all disclosures normally provided in
annual financial statements. It is suggested that these financial statements
be read in conjunction with the audited financial statements and notes
included in the Trust's annual report on Form 10-K filed with the Securities
and Exchange Commission for the year ended December 31, 2002. The December 31,
2002 information has been derived from the audited financial statements as of
December 31, 2002.

ITEM II. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

Reference is made to Item 1, "Financial Statements"  The information
contained therein is essential to, and should be read in connection with,
the following analysis.

OPERATIONAL OVERVIEW

Due to the nature of the Trust's business, its results of operations depend
on the Managing Owner's ability to recognize and capitalize on trends and
other profit opportunities in different sectors of the global capital and
commodity markets.  The Managing Owner's trading methods are confidential,
so that substantially the only information that can be furnished regarding
the Trust's results of operations is contained in the performance record of
its trading.  Unlike operating businesses, general economic or seasonal
conditions do not directly affect the profit potential of the Trust, and its
past performance is not necessarily indicative of future results.  Because of
the speculative nature of its trading, operational or economic trends have
little relevance to the Trust's results.  The Managing Owner believes that
there are certain market conditions, for example, markets with strong price
trends, in which the Trust has a better likelihood of being profitable than
in others.

LIQUIDITY AND CAPITAL RESOURCES

The Trust does not intend to raise any additional capital as it has not, and
does not intend to, register additional units for sale. The Trust does not
engage in borrowing.

The Trust trades futures, options and forward contracts on interest rates,
commodities, currencies, metals, energy and stock indices.  Due to the nature
of the Trust's business, substantially all its assets are represented by
cash, United States government obligations and short-term foreign sovereign
debt obligations, while the Trust maintains its market exposure through open
futures and forward contract positions.

The Trust's assets are generally held as cash or cash equivalents which are
used to margin or collateralize the Trust's futures and forward positions and

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 11

are withdrawn, as necessary, to pay redemptions and expenses. Other than
potential market-imposed limitations on liquidity, due, for example, to daily
price fluctuation limits, which are inherent in the Trust's futures and
forward trading, the Trust's assets are highly liquid and are expected to
remain so. During its operations through the three and nine month period
ending September 30, 2003, the Trust experienced no meaningful periods of
illiquidity in any of the

numerous markets traded by the Managing Owner.

RESULTS OF OPERATIONS
<TABLE>
<CAPTION>
                          30-Sep-03      30-Jun-03
                        -------------  -------------
        <S>             <C>            <C>
        Ending Equity   $ 20,236,943   $ 20,443,813
</TABLE>

Due to the nature of commodity trading, the results of operations for the
interim period presented should not be considered indicative of the results
that may be expected for the entire year.

January 1, 2003 to September 30, 2003
--------------------------------

July 1, 2003 to September 30, 2003

The Trust's net assets decreased 1.01% in the third quarter of 2003. This
decrease was attributable to redemptions of $337,713, which was partially
offset by net income from operations of $130,843.

Brokerage commissions are calculated on the net asset value on the last day of
each month and are affected by trading performance and redemptions. Brokerage
commissions for the three months ended September 30, 2003 decreased by $93,107
relative to the corresponding period in 2002.

The Trust's NAV per unit was up 0.51% during the third quarter, as gains in
July and August outweighed losses in September. Trading in currency forwards,
and equity and metals futures were profitable, while trading in interest rate,
energy, and agricultural futures produced losses.

The most significant currency event of the quarter was the September statement
from the Group of Seven (G-7) finance chiefs that "more flexibility in
exchange rates is desirable". The market took this as a rebuke of Asian
central bank interventions designed to weaken their currencies in order to aid
their exports and economic growth. The result was a sharp appreciation of
Asian currencies, significant gains on long positions in the Japanese yen and
Korean won. Long positions in the Australian dollar, New Zealand dollar and
South African rand were also profitable for the quarter. Meanwhile, trading of
the European currencies vis-a-vis the U.S. dollar was volatile and marginally
unprofitable. On the other hand, non-dollar cross rate trading was
characterized by non-directional volatility. Hence, losses, though small by
individual position, were broadly based in euro and yen cross rate trading.

Global stock prices rose during July, August and in early September. As a
result, long positions in the Hong Kong Hang Seng, Japanese Nikkei and Topix,
German Dax and Nasdaq 100 indices were quite profitable. Following the G-7
statement, however, market participants were concerned that a weak dollar
might derail European and Asian recoveries. Hence, some of the earlier gains
were given back.

Long gold and copper positions netted to a quarterly gain.

Interest rate futures' trading was very volatile in the third quarter. Signs
of accelerating growth in the U.S., and a lessening of the fear of worldwide
deflation encouraged higher interest rates in July and much of August.
Thereafter, however, concerns that positive economic prospects may have been
overstated and that dollar weakness could adversely affect stocks, exports and
growth worldwide caused rates to plunge sharply. Overall, interest rate
trading was fractionally unprofitable during the July-September quarter, with
short positions in U.S., European and Japanese interest rate futures
profitable in July and August, and these same positions unprofitable in
September. By the end of the quarter, the Trust had covered most of its short
positions in interest rates and initiated partial long positions.

Energy prices were also volatile in the third quarter as concerns about OPEC
output cuts, Iraqi production and inventory adjustments unsettled traders.
Losses were experienced in trading crude oil, heating oil, London gas oil, and
natural gas, while a long position in unleaded gasoline was slightly
profitable.

Trading of soft and agricultural markets generated a fractional loss during
the quarter.

April 1, 2003 to June 30, 2003

The Trust's net assets increased 0.32% in the second quarter of 2003.  This
increase was attributable to net income from operations of $804,220, which was
partially offset by redemptions of $739,270.

Brokerage commissions are calculated on the net asset value on the last day
of each month and are affected by trading performance and redemptions.
Brokerage commissions for the three months ended June 30, 2003
decreased by $43,990 relative to the corresponding period in 2002.

The Trust's NAV per unit increased 3.77% during the second quarter, as profits
in the April-May period outweighed losses in September. Trading of interest
rate futures, currency forwards and equity futures, was profitable, while
trading of non-financial futures (energy, metals, and agricultural
commodities) produced losses.

Medium-term and long-term interest rates in Europe, the U.S. and Japan resumed
their decline during April and May.  Hence, long positions in 5-year, 10-year
and 30-year interest rate futures contracts for U.S., European and Japanese
instruments were very profitable.  By mid-June, however, amid signs of nascent
growth, interest rates started to rise significantly and there were some losses
sustained on these same positions, which were subsequently reversed to short
futures contract positions.

A similar pattern of profits in April and May followed by losses in June was
exhibited in the currency sector.  Short U.S. dollar positions against the euro,
other European currencies, the Australian, New Zealand and Singapore dollars,
and the South African rand produced sizable gains early in the quarter.  Later,
however, as the U.S. dollar rebounded against the European bloc of currencies,
there were losses on many of these short foreign dollar positions, although the

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 12

short dollar positions versus the Aussie, New Zealand, South African and
Singaporean currencies were still fractionally profitable.  Meanwhile, the
dollar/yen exchange rate was quite volatile and losses were registered on both
long and short dollar positions throughout the quarter.  Finally, long euro
positions vis-a-vis the yen, Norwegian krone, and pound sterling, and a long
sterling position relative to the yen were profitable.

Trading of stock index futures was fractionally positive.  Long positions in
German, Japanese, and the Nasdaq stock indices were profitable, while a short
S&P index trade was somewhat unprofitable.

An up-trend in natural gas reversed and spike sharply downward in June,
resulting in a marked loss on a long position.  Trading elsewhere in the
energy sector had a slight negative impact on performance.

In the agricultural sector, corn futures prices were quite volatile and, hence,
losses were experienced on both long and short positions.  Trading of other soft
and agricultural commodities was slightly negative for performance.

Long gold and copper positions generated a small quarterly loss.

January 1, 2003 to March 31, 2003

The Trust's net assets decreased 2.40% in the first quarter of 2003.  This
decrease was attributable to redemptions of $887,628 which was partially offset
by net income from operations of $386,280.

Brokerage commissions are calculated on the net asset value on the last day
of each month and are affected by trading performance and redemptions.
Brokerage commissions for the three months ended March 31, 2003 decreased
by $61,130 relative to the corresponding period in 2002.

The Trust's NAV per unit increased 1.43% during the three months ended
March 31, 2003. A number of well-defined trends, especially in the energy and
interest rate sectors, persisted during the first two months of the year and
generated profits.  However, as war with Iraq approached in early March, these
trends halted and reversed abruptly, producing losses that largely offset the
quarter's earlier gains.  On balance for the period, profits from trading energy
and interest rate futures were mostly counterbalanced by the losses sustained
from trading currency, stock index and metal futures, and to a lesser extent by
losses from agricultural commodities trading.

For example, crude oil prices, which climbed from $24 a barrel in early November
2002 to nearly $40 per barrel early in 2003, plunged back to under $28 a barrel
in only a few days.  Consequently, long crude oil positions were profitable in
January and February, but lost money in March.  Similar results were experienced
in trading other energy contracts.

Interest rates, which had been declining broadly for over a year, spiked higher
in a flurry of pre-war activity.  As a result, long German and U.S. interest
rate futures positions produced losses in March, after having been profitable in
the first two months of the quarter.

A weakening U.S. dollar trend that had been evident since late October 2002 also
reversed abruptly during the quarter and was followed by non-directional whipsaw

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 13

price activity, especially for the Japanese yen.  Hence, losses from trading the
Asian currencies outweighed gains from long positions in the European currencies
and non-dollar cross rate trading.

Stock markets were unsettled and trading of U.S., Japanese and Hong Kong equity
futures resulted in a loss.  Losses from both long and short positions in
industrial metals were somewhat larger than the gains from both long and short
trades in gold.  Trading of agricultural commodity futures was unprofitable.

January 1, 2002 to September 30, 2002
--------------------------------

July 1, 2002 to September 30, 2002

The Trust's net assets increased 5.51% in the third quarter of 2002.  This
increase was attributable to net income from operations of $3,618,176, which
was partially offset by redemptions of $2,342,406.

Brokerage commissions are calculated on the net asset value on the last day
of each month and are affected by trading performance and redemptions.
Brokerage commissions for the three months ended September 30, 2002
decreased by $75,560, relative to the corresponding period in 2001.

The Trust's net asset value per unit registered a double-digit gain for the
quarter, increasing 16.01%.  Trading of interest rate, stock index, energy
and metal futures was profitable, while currency trading resulted in losses.

Interest rates on government debt declined sharply during the summer. Hence,
the Trust's long positions in German 5 and 10-year bonds, U.S. Treasury 5 and
10-year notes and the 30-year bond, and short-term eurodollar deposits were
profitable.  A long Japanese government bond position was also profitable,
although the size of the gain was cut significantly after a major sell-off
in JGB's followed the Bank of Japan's announcement that it would purchase
stocks from major banks.

Global stock markets declined further during the quarter.  Short positions
in German, Hong Kong, Japanese, and U.S. stock index futures were profitable.

Though energy prices were volatile during the quarter, long positions in
crude oil, natural gas, London gas oil, and heating oil were profitable.
A long position in unleaded gasoline did produce a fractional loss, however.

In the metals sector of the portfolio, a short aluminum trade generated a
modest gain that more than offset a fractional loss on a short gold trade.

Currency trading, on the other hand, was unprofitable during the July-
September period.  The sustained dollar decline that had characterized
the second quarter came to an end in the third quarter.  A trend reversal
that started in late July was followed by volatile but generally non-
directional market activity thereafter.  Hence, short dollar positions
relative to the yen, euro, Korean won, and Swiss franc produced losses,
and were closed or reversed to long positions.  Non-dollar cross rate
trading had no significant impact on NAV for the quarter.

Finally, the gain from a long corn trade was more than offset by losses
from trading sugar, cotton, and coffee.

April 1, 2002 to June 30, 2002

The Trust's net assets decreased 3.24% in the second quarter of 2002.
This decrease was attributable to redemptions of $3,027,068, which was
partially offset by net income from operations of $2,248,610 and
contributions of $5,000.

Brokerage commissions are calculated on the net asset value on the last
day of each month and are affected by trading performance and redemptions.
Brokerage commissions for the three months ended June 30, 2002 decreased by
$185,733, relative to the corresponding period in 2001.

The Trust's net asset value per unit registered a double-digit advance in
the quarter, increasing by 10.09%.  Currency, interest rate and stock index
futures trading accounted for all of the gain.  Non-financial futures
trading, on the other hand, produced losses.

As the U.S. dollar declined broadly during the quarter, short dollar
positions relative to the euro, yen, Swiss franc, Korean won, and
Singapore dollar were all profitable.  Also, non-dollar, cross rate
trading was profitable.  Not even frequent foreign exchange market
intervention by the Bank of Japan-assisted late in the quarter by the
Fed and ECB, could halt the dollar's slide.

In addition, long positions in U.S. dollar-based short-term and long-term
government fixed income futures were profitable, and, by the end of the
period, long positions in European and Japanese fixed income futures were
also showing profits.  Short stock index futures positions were profitable
as well. Trading of German, Hong Kong, Japanese, and U.S. stock futures
were all profitable.

Trading of non-financial markets was negative for the quarter.  Energy
prices displayed non-directional volatility and losses were registered
on both long and short positions in crude oil, heating oil, London gas
oil, unleaded gasoline and natural gas.  Gold trading was profitable
during the quarter, but losses from trading non-precious metals exceeded
gold's gains.

Finally in the agricultural sector, a long sugar trade produced a loss,
as did trading on both sides of the corn market.

January 1, 2002 to March 31, 2002

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 14

The Trust's net assets decreased 7.12% during the three months ended
March 31, 2002.  This decrease was attributable to net loss from operations of
$572,730 and redemptions of $1,532,288, which was partially offset by
contributions of $274,812.

Brokerage commissions are calculated on the net asset value on the last day of
each month and are affected by trading performance and redemptions.  Brokerage
commissions for the three months ended March 31, 2002 decreased by $194,363,
relative to the corresponding period in 2001.

The Trust's NAV per unit decreased 2.35% during the three months ended
March 31, 2002. Gains from trading energy futures and, to a lesser extent,
interest rate futures were offset by losses from trading currency, stock index,
and non-financial commodity futures.

Uncertainties, which seemed to abound throughout the world, jostled the
financial markets to and from during the quarter. Accounting uncertainties,
concern about future profit growth, questions about the direction of monetary
and interest rate policies worldwide, Middle East turmoil and its possible
impact on energy markets, all combined to cloud trading and investment
decisions.

Long positions in crude oil, heating oil, London gas oil, unleaded gasoline and
natural gas were all significantly positive during March and for the quarter as
Middle Eastern tensions underpinned energy prices across the board.

Results in interest rate trading were mixed and produced a modest gain for the
first quarter. Short positions in German five and ten year futures were
profitable, as were both a short and later a long position in the Japanese
government bond. On the other hand, a long eurodollar futures position lost
money, and both short and long positions in US five and ten year notes also
generated losses.

Long dollar positions against the other major currencies were very profitable at
the start of 2002. As the quarter advanced, however, the US dollar reversed
direction and then settled into volatile ranges compared to most other
currencies. Consequently, dollar currency trading produced losses during the
last two months of the quarter that far outdistanced the earlier gains. At the
same time, non-dollar cross rate trading generated fractional losses in each
month of the quarter.

Stock index futures trading was also range-bound and volatile throughout the
period. As positions whipsawed between long and short, large losses were
produced trading the Japanese TOPIX and Hong Kong HANG SENG futures, and
fractional shortfalls resulted from trading German and U.S. stock index
futures.

Turning to non-financial commodities, sugar and cotton prices swung widely
During the January-March quarter, producing losses on both long and short
positions in each market. Meanwhile trading of metals futures was mixed. The
gains from long gold and copper positions were offset by the losses from trading
aluminum and zinc.

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 15

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.  The Trust is a small business issuer.

ITEM 4. CONTROLS AND PROCEDURES
Millburn Ridgefield Corporation, the Managing Owner of the Trust, with the
participation of the Managing Owner's Co-Chief Executive Officers and
Chief Financial Officer, has evaluated the effectiveness of the design
and operation of its disclosure controls and procedures with respect to
the Trust as of the end of this period covered by this quarterly report,
and, based on their evaluation, have concluded that these disclosure
controls and procedures are effective.  There were no significant changes
in the Managing Owner's internal controls with respect to the Trust or in
other factors applicable to the Trust that could materially affect
these controls subsequent to the date of their evaluation.

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 16

PART II. OTHER INFORMATION

ITEM I. Legal Proceedings - None
ITEM 2. Changes in Securities and Use of Proceeds - None
ITEM 3. Defaults Upon Senior Securities - None
ITEM 4. Submission of Matters to a Vote of Security Holders - None
ITEM 5. Other Information - None
ITEM 6. (a) Exhibits -

The following exhibits are incorporated by reference from Amendment No. 1
to the Registration Statement (File No. 33-90756) filed on September 27, 1995 on
Form S-1 under the Securities Act of 1933.
3.02    Certificate of Trust of the Trust.
10.01   Form of Subscription Agreement and Power of Attorney.

The following exhibits are incorporated by reference from Post-Effective
Amendment No. 1 to the Registration Statement (File No. 33-90756) filed on
March 1, 1996 on Form S-1 under the Securities Act of 1933.

Designation Description
----------- -----------
10.02   Selling Agreement among the Trust, the Managing Owner and
the Principal Selling Agents (includes a form of Additional Selling
Agent and Correspondent Selling Agent Agreement).
10.03(a) Customer Agreement among the Trust, the Managing Owner and a
Principal Selling Agent in its capacity as a futures commission merchant.
10.03(b) Customer Agreement among the Trust, the Managing Owner and a
Principal Selling Agent in its capacity as a futures commission merchant.
10.04 Escrow Agreement between the Trust and Chemical Bank, N.A.

The following exhibit is incorporated by reference from Post-Effective Amendment
No. 5 to the Registration Statement (File No. 33-90756) filed February 18, 1997
on Form S-1 under the Securities Act of 1933.

The following exhibits are included herewith:

31.01 Rule 13(a)-14(a)/15(d)-14(a) Certification of Co-Chief Executive Officer
31.02 Rule 13(a)-14(a)/15(d)-14(a) Certification of Co-Chief Executive Officer
31.03 Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer
32.01 Section 1350 Certification of Co-Chief Executive Officer
32.02 Section 1350 Certification of Co-Chief Executive Officer
32.03 Section 1350 Certification of Chief Financial Officer

        (b) Reports on Form 8-K - None

                               SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized, in the
City of New York and State of New York on the 14th day of November, 2003.

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST, L.P.                                  PAGE 17

   By:  Millburn Ridgefield Corporation,
        Managing Owner
Date: November 14, 2003
                             /s/Tod A. Tanis
                                Tod A. Tanis
                                Vice-President
                                (principal accounting officer)

EXHIBIT 31.01 RULE 13(a)-14(a)/15(d)-14(a)
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

I, George E. Crapple, Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn World Resource Trust (the
"Trust"), certify that:

I have reviewed this quarterly report on Form 10-Q of The Millburn World
Resource Trust;

Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this report;

Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and trust capital of the Trust as of,
and for, the periods presented in this report;

The Trust's other certifying officers and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15(d)-15(e)) and internal controls over financial reporting (as
defined in Exchange Act Rules 13(a)-15(f) and 15d-15(f)) for the Trust and have:

  (a)  designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the Trust, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;

  (b) designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;

  (c) evaluated the effectiveness of the Trust's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

  (d) disclosed in this report any change in the Trust's internal control over
financial reporting that occurred during the Trust's most recent fiscal quarter
(the Trust's fourth fiscal quarter in the case of an annual

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST, L.P.                               PAGE 18

report) that has materially affected, or is reasonably likely to materially
affect, the Trust's internal control over financial reporting; and

The Trust's other certifying officers and I have disclosed, based on
our most recent evaluation of internal control over financial reporting, to
the Trust's auditors and the audit committee of the Trust's board of directors
(or persons performing the equivalent functions):

  (a) all significant deficiencies and material weaknesses in the design or
operation of internal controls over financial reporting which are reasonably
likely to adversely affect the Trust's ability to record, process, summarize
and report financial information; and

  (b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Trust's internal control over
financial reporting.

By:  /s/ George E. Crapple


__________________________________
George E. Crapple
Co-Chief Executive Officer
November 14, 2003

EXHIBIT 31.02 RULE 13(a)-14(a)/15(d)-14(a)
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

I, Harvey Beker, Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn World Resource Trust (the
"Trust"), certify that:

I have reviewed this quarterly report on Form 10-Q of The Millburn World
Resource Trust;

Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this report;

Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and trust capital of the Trust
as of, and for, the periods presented in this report;

The Trust's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal controls over
financial reporting (as defined in Exchange Act Rules 13(a)-15(f) and
15d-15(f)) for the Trust and have:

  (a)  designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 19

ensure that material information relating to the Trust, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

  (b) designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;

  (c) evaluated the effectiveness of the Trust's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

  (d) disclosed in this report any change in the Trust's internal control over
financial reporting that occurred during the Trust's most recent fiscal quarter
(the Trust's fourth fiscal quarter in the case of an annual report) that has
materially affected, or is reasonably likely to materially affect, the Trust's
internal control over financial reporting; and

The Trust's other certifying officers and I have disclosed, based on
our most recent evaluation of internal control over financial reporting, to the
Trust's auditors and the audit committee of the Trust's board of directors (or
persons performing the equivalent functions):

  (a) all significant deficiencies and material weaknesses in the design or
operation of internal controls over financial reporting which are reasonably
likely to adversely affect the Trust's ability to record, process, summarize
and report financial information; and

  (b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Trust's internal control over
financial reporting.

By:  /s/ Harvey Beker


__________________________________
Harvey Beker
Co-Chief Executive Officer
November 14, 2003

EXHIBIT 31.03 RULE 13(a)-14(a)/15(d)-14(a)
CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Gregg Buckbinder, Chief Financial Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn World Resource Trust (the
"Trust"), certify that:

I have reviewed this quarterly report on Form 10-Q of The Millburn World
Resource Trust;

Based on my knowledge, this report does not contain any untrue

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                        PAGE 20

statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this report;

Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and trust capital of the Trust
as of, and for, the periods presented in this report;

The Trust's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal controls over
financial reporting (as defined in Exchange Act Rules 13(a)-15(f) and
15d-15(f)) for the Trust and have:

  (a)  designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the Trust, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

  (b) designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;

  (c) evaluated the effectiveness of the Trust's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and

  (d) disclosed in this report any change in the Trust's internal control
over financial reporting that occurred during the Trust's most recent fiscal
quarter (the Trust's fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect,
the Trust's internal control over financial reporting; and

The Trust's other certifying officers and I have disclosed, based on
our most recent evaluation of internal control over financial reporting,
to the Trust's auditors and the audit committee of the Trust's board of
directors (or persons performing the equivalent functions):

  (a) all significant deficiencies and material weaknesses in the design
or operation of internal controls over financial reporting which are
reasonably likely to adversely affect the Trust's ability to record,
process, summarize and report financial information; and

  (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the Trust's internal control
over financial reporting.

By:  /s/ Gregg Buckbinder

<PAGE>

THE MILLBURN WORLD RESOURCE TRUST                                     PAGE 21

__________________________________
Gregg Buckbinder
Chief Financial Officer
November 14, 2003

Exhibit 32.01

CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF
THE UNITED STATES CODE

I, Harvey Beker, the Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn World Resource Trust (the
"Trust"), certify that (i) the Quarterly Report of the Trust on Form
10-Q for the period ending September 30, 2003 fully complies with the
requirements of Section 13(a) or 15(d) of the Securities Exchange Act of
1934 and (ii) the information contained in such Quarterly Report fairly
presents, in all material respects, the financial condition and results
of operations of the Trust.


Date:
November 14, 2003

  /s/
 Harvey Beker
 -------------------------
 Harvey Beker
 Co-Chief Executive Officer



Exhibit 32.02
CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF
THE UNITED STATES CODE

I, George E. Crapple, the Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn World Resource Trust (the
"Trust"), certify that (i) the Quarterly Report of the Trust on Form 10-Q for
the period ending September 30, 2003 fully complies with the requirements of
Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (ii) the
information contained in such Quarterly Report fairly presents, in all
material respects, the financial condition and results of operations of the
Trust.

Date:
November 14, 2003

  /s/
 George E. Crapple
 -------------------------
 George E. Crapple
 Co-Chief Executive Officer


Exhibit 32.03
CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF
THE UNITED STATES CODE

<PAGE>
THE MILLBURN WORLD RESOURCE TRUST, L.P.                               PAGE 22

I, Gregg Buckbinder, the Chief Operating Officer and principal financial
officer of Millburn Ridgefield Corporation, the Managing Owner of The
Millburn World Resource Trust (the "Trust"), certify that (i) the Quarterly
Report of the Trust on Form 10-Q for the period ending September 30, 2003 fully
complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 and (ii) the information contained in such Quarterly
Report fairly presents, in all material respects, the financial condition
and results of operations of the Trust.

Date:
November 14, 2003

/s/ Gregg Buckbinder

 -------------------------
 Gregg Buckbinder
 Chief Operating Officer