Shot noise reduction in quantum wires is interpreted within the model for the 0.7 structure in the conductance of near perfect quantum wires [T. Rejec, A. Ramsak, and J. H. Jefferson, Phys. Rev. B 62, 12985 (2000)]. It is shown how the Fano factor structure is related to the specific structure of the conductance as a consequence of the singlet-triplet nature of the resonances with the probability ratio 1:3. An additional feature in the Fano factor, related to the 0.25 structure in conductance, is predicted.