Table 22.  Pricing Results for 39 Market Advisory Programs, Corn, 2000-2003 Crop Years, On-Farm Variable Storage Costs
               
2000 2001 2002 2003
Net Net Net Net 2002-03 2001-03 2000-03
Advisory Advisory Advisory Advisory Two-Year Three-Year Four-Year
Market Advisory Program Price Price Price Price Average Average Average
---$ per bushel (harvest equivalent)---
Ag Alert for Ontario N/A N/A N/A N/A N/A N/A N/A
Ag Profit by Hjort N/A 1.91 1.85 2.07 1.96 1.94 N/A
Ag Financial Strategies N/A N/A N/A N/A N/A N/A N/A
Ag Review 2.14 2.29 2.46 2.40 2.43 2.38 2.32
AgLine by Doane (cash only) 2.24 2.04 2.11 2.48 2.29 2.21 2.22
AgLine by Doane (hedge) 2.32 2.06 2.11 2.45 2.28 2.21 2.24
AgResource 2.90 1.78 2.33 2.70 2.52 2.27 2.43
Agri-Edge (cash only) N/A N/A N/A N/A N/A N/A N/A
Agri-Edge (hedge) N/A N/A N/A N/A N/A N/A N/A
Agri-Mark 2.19 N/A N/A N/A N/A N/A N/A
AgriVisor (aggressive cash) 2.28 2.08 2.37 2.27 2.32 2.24 2.25
AgriVisor (aggressive hedge) 2.28 2.08 2.37 2.27 2.32 2.24 2.25
AgriVisor (basic cash) 2.26 2.06 2.37 2.27 2.32 2.23 2.24
AgriVisor (basic hedge) 2.26 2.03 2.37 2.27 2.32 2.22 2.23
Allendale (futures & options) 2.03 2.07 2.06 2.30 2.18 2.14 2.11
Allendale (futures only) 2.29 2.09 2.13 2.28 2.20 2.17 2.20
Brock (cash only) 2.10 2.02 2.46 2.35 2.41 2.28 2.23
Brock (hedge) 2.38 2.01 2.45 2.31 2.38 2.26 2.29
Cash Grain 2.14 N/A N/A N/A N/A N/A N/A
Co-Mark 2.10 2.12 2.11 2.29 2.20 2.18 2.16
Freese-Notis 2.21 1.98 2.21 2.35 2.28 2.18 2.19
Grain Field Marketing N/A 2.18 2.12 2.27 2.20 2.19 N/A
Grain Field Report N/A N/A N/A N/A N/A N/A N/A
Grain Marketing Plus 1.91 2.12 2.05 N/A N/A N/A N/A
Harris Weather/Elliott Advisory N/A N/A N/A N/A N/A N/A N/A
North American Ag N/A N/A N/A N/A N/A N/A N/A
Northstar Commodity N/A 2.05 2.14 2.41 2.27 2.20 N/A
Pro Farmer (cash only) 2.06 2.08 2.13 2.22 2.18 2.14 2.12
Pro Farmer (hedge) 1.94 1.99 1.94 2.13 2.03 2.02 2.00
Progressive Ag 2.20 2.68 2.28 2.56 2.42 2.51 2.43
Prosperous Farmer N/A N/A N/A N/A N/A N/A N/A
Risk Management Group (cash only) 2.28 2.15 2.20 2.23 2.22 2.20 2.22
Risk Management Group (futures & options) 2.25 2.10 2.37 2.29 2.33 2.25 2.25
Risk Management Group (options only) 2.23 2.10 2.21 2.27 2.24 2.20 2.20
Stewart-Peterson Advisory Reports 1.90 2.11 2.15 2.24 2.20 2.17 2.10
Stewart-Peterson Strictly Cash 2.05 N/A N/A N/A N/A N/A N/A
Top Farmer Intelligence 2.45 2.27 2.07 2.19 2.13 2.18 2.25
Utterback Marketing Services 2.39 2.11 2.18 2.07 2.13 2.12 2.19
Zwicker Cycle Letter N/A N/A N/A N/A N/A N/A N/A
Descriptive Statistics:
  Average 2.21 2.09 2.21 2.31 2.26 2.20 2.22
  Median 2.23 2.08 2.18 2.28 2.28 2.20 2.23
  Minimum 1.90 1.78 1.85 2.07 1.96 1.94 2.00
  Maximum 2.90 2.68 2.46 2.70 2.52 2.51 2.43
  Range 1.00 0.90 0.61 0.63 0.56 0.57 0.43
  Standard Deviation 0.20 0.15 0.16 0.14 0.12 0.10 0.09
Market Benchmarks
  24-month average 2.15 2.07 2.16 2.30 2.23 2.18 2.17
  20-month average 2.09 2.02 2.16 2.31 2.05 2.16 2.14
Farmer Benchmark
  USDA average price received 2.06 2.07 2.22 2.31 2.07 2.20 2.17
               
         
Notes:  N/A denotes "not applicable" -- program did not exist or was not evaluated for that marketing year. Net advisory prices and benchmark prices are stated on a harvest equivalent basis. A crop year is a two-year marketing window from September of the year previous to harvest through August of the year after harvest.