Table 22. Pricing Results for 40 Market Advisory Programs, Soybeans, Two-Year through Ten-Year Averages, 1995-2004 Crop Years, Commercial Storage Costs
                   
2003-04 2002-04 2001-04 2000-04 1999-04 1998-04 1997-04 1996-04 1995-04
Two-Year Three-Year Four-Year Five-Year Six-Year Seven-Year Eight-Year Nine-Year Ten-Year
Market Advisory Program Average Average Average Average Average Average 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 N/A N/A
Ag Financial Strategies 5.86 5.50 5.46 N/A N/A N/A N/A N/A N/A
Ag Market Pro (cash) N/A N/A N/A N/A N/A N/A N/A N/A N/A
Ag Market Pro (hedge) N/A N/A N/A N/A N/A N/A N/A N/A N/A
Ag Profit by Hjort N/A N/A N/A N/A N/A N/A N/A N/A N/A
Ag Review 4.93 5.04 5.12 5.14 5.06 5.07 5.21 5.45 5.56
AgLine by Doane (cash only) 6.17 5.90 5.78 5.72 5.67 5.67 5.75 5.93 6.00
AgLine by Doane (hedge) 6.26 6.00 5.84 5.74 5.69 5.68 N/A N/A N/A
AgResource 6.95 6.36 6.21 6.33 6.46 6.42 6.42 6.52 6.56
Agri-Edge (cash only) N/A N/A 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 N/A N/A
Agri-Mark N/A N/A N/A N/A N/A N/A N/A N/A N/A
AgriVisor (aggressive cash) 6.52 6.10 5.94 5.83 5.77 5.74 5.81 5.97 6.02
AgriVisor (aggressive hedge) 6.52 6.10 5.94 5.81 5.74 5.75 5.80 5.98 6.07
AgriVisor (basic cash) 6.52 6.10 5.94 5.81 5.76 5.73 5.81 5.95 5.99
AgriVisor (basic hedge) 6.52 6.10 5.94 5.80 5.73 5.74 5.79 5.98 6.06
Allendale (futures only) 5.48 5.32 5.41 5.47 5.49 5.55 5.69 5.87 5.90
Brock (cash-only) 6.04 5.79 5.73 5.63 5.64 5.64 5.72 5.89 5.93
Brock (hedge) 5.98 5.66 5.65 5.60 5.72 5.84 5.98 6.09 6.05
Cash Grain N/A N/A N/A N/A N/A N/A N/A N/A N/A
Co-Mark N/A N/A N/A N/A N/A N/A N/A N/A N/A
Freese-Notis 5.78 5.60 5.57 5.54 5.51 5.55 5.62 5.79 5.85
Grain Field Marketing 6.18 6.05 5.88 N/A N/A N/A N/A N/A N/A
Grain Field Report N/A N/A N/A N/A N/A N/A N/A N/A N/A
Grain Marketing Plus N/A N/A N/A N/A N/A 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 N/A N/A
North American Ag N/A N/A N/A N/A N/A N/A N/A N/A N/A
Northstar Commodity 6.44 6.10 5.97 N/A N/A N/A N/A N/A N/A
Pro Farmer (cash only) 6.19 5.90 5.79 5.69 5.66 5.67 5.75 5.92 6.00
Pro Farmer (hedge) 6.10 5.67 5.58 5.55 5.59 5.63 5.73 5.93 6.01
Progressive Ag 7.17 6.83 6.57 6.26 6.16 6.10 6.17 6.35 N/A
Prosperous Farmer N/A N/A N/A N/A N/A N/A N/A N/A N/A
Risk Management Group (cash only) 5.73 5.61 5.56 5.55 5.54 N/A N/A N/A N/A
Risk Management Group (futures & options) 5.69 5.56 5.47 5.47 5.51 N/A N/A N/A N/A
Risk Management Group (options only) 5.66 5.57 5.48 5.48 5.49 N/A N/A N/A N/A
Stewart-Peterson Advisory Reports 5.99 5.61 5.65 5.61 5.68 5.77 5.83 6.00 6.01
Stewart-Peterson Strictly Cash N/A N/A N/A N/A N/A N/A N/A N/A N/A
Top Farmer Intelligence 5.98 5.66 5.55 5.59 5.70 5.79 5.83 5.94 5.96
Utterback Marketing Services 6.58 5.92 5.66 5.58 5.67 5.74 5.90 N/A N/A
Zwicker Cycle Letter N/A N/A N/A N/A N/A N/A N/A N/A N/A
  Average 6.13 5.83 5.74 5.68 5.68 5.73 5.81 5.97 6.00
  Minimum 4.93 5.04 5.12 5.14 5.06 5.07 5.21 5.45 5.56
  Maximum 7.17 6.83 6.57 6.33 6.46 6.42 6.42 6.52 6.56
  Range 2.23 1.78 1.45 1.19 1.39 1.35 1.21 1.07 1.00
Market Benchmarks
  24-Month Average 5.93 5.61 5.54 5.52 5.52 5.56 5.66 5.81 5.86
  20-Month Average 6.15 5.80 5.66 5.60 5.55 5.56 5.65 5.82 5.88
Farmer Benchmarks
  USDA  prices 6.48 6.13 5.98 5.84 5.77 5.68 5.75 5.90 5.97
  Market prices 6.60 6.20 6.02 5.86 5.78 5.68 5.73 5.88 5.97
                   
         
Notes:  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.  N/A denotes "Not Applicable," since the indicated program did not exist or was not evaluated for the given crop year.  The average, minimum, maximum and range are computed across the advisory program averages in the indicated column. As a result, the statistics reflect performance only for those advisory programs active during each of the indicated crop years.    0.89 0.05
0.33 0.03
-0.04 0.02
-0.04 0.00
0.08 0.02
0.25 0.02
-0.02 0.01
-0.04 0.00
-0.09 0.00
-0.07 0.01
-0.05 0.03
-0.10 0.01
-0.31 0.02
-0.20 0.02
-0.35 0.01
-0.28 0.02
-0.14 0.04
-0.43 0.03
-0.03 0.02
-0.06 0.02
0.298544 0.013025547