Table 3.  Revenue Results for 40 Market Advisory Programs, 1995-2004 Crop Years, Commercial Storage Costs
                     
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
50/50 50/50 50/50 50/50 50/50 50/50 50/50 50/50 50/50 50/50
Advisory Advisory Advisory Advisory Advisory Advisory Advisory Advisory Advisory Advisory
Market Advisory Program Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue
---$ per acre (harvest equivalent)---
Ag Alert for Ontario N/A 359 N/A N/A N/A N/A N/A N/A N/A N/A
Ag Financial Strategies N/A N/A N/A N/A N/A N/A 270 256 292 363
Ag Market Professional (cash only) N/A N/A N/A N/A N/A N/A N/A N/A N/A 368
Ag Market Professional (hedge) N/A N/A N/A N/A N/A N/A N/A N/A N/A 348
Ag Profit by Hjort 326 355 283 282 280 N/A N/A N/A N/A N/A
Ag Review 292 382 324 293 282 285 298 311 288 395
AgLine by Doane (cash only) 326 373 310 304 298 301 284 288 343 372
AgLine by Doane (hedge) N/A N/A N/A 310 302 305 284 293 340 373
AgResource 377 407 295 316 371 381 264 301 367 448
Agri-Edge (cash only) 323 369 291 N/A N/A N/A N/A N/A N/A N/A
Agri-Edge (hedge) 327 403 310 N/A N/A N/A N/A N/A N/A N/A
Agri-Mark 382 375 304 287 297 295 N/A N/A N/A N/A
AgriVisor (aggressive cash) 330 385 317 303 302 303 287 305 334 390
AgriVisor (aggressive hedge) 331 369 311 294 289 301 287 305 334 400
AgriVisor (basic cash) 297 366 311 297 300 300 285 305 334 390
AgriVisor (basic hedge) 315 374 306 293 296 299 282 305 334 390
Allendale (futures only) 277 327 334 321 312 306 294 277 304 362
Brock (cash-only) 295 373 310 295 304 281 280 315 322 374
Brock (hedge) 255 344 346 340 315 309 281 308 317 368
Cash Grain N/A N/A N/A N/A 310 290 N/A N/A N/A N/A
Co-Mark N/A N/A N/A N/A N/A 291 295 292 332 N/A
Freese-Notis 310 385 298 308 271 293 274 291 319 371
Grain Field Marketing N/A N/A N/A N/A N/A N/A 286 306 330 361
Grain Field Report 333 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 265 287 287 N/A N/A
Harris Weather/Elliott Advisory 332 331 N/A N/A N/A N/A N/A N/A N/A N/A
North American Ag 327 N/A N/A N/A N/A N/A N/A N/A N/A N/A
Northstar Commodity N/A N/A N/A N/A N/A N/A 286 291 335 377
Pro Farmer (cash only) 329 371 299 296 266 276 284 285 322 345
Pro Farmer (hedge) 324 377 310 307 276 273 278 264 313 354
Progressive Ag N/A 374 313 284 292 286 334 320 369 431
Prosperous Farmer 310 N/A N/A N/A N/A N/A N/A N/A N/A N/A
Risk Management Group (cash only) N/A N/A N/A N/A 301 305 289 299 301 356
Risk Management Group (futures & options) N/A N/A N/A N/A 295 302 282 310 305 351
Risk Management Group (options only) N/A N/A N/A N/A 291 301 282 301 305 358
Stewart-Peterson Advisory Reports 300 358 291 306 297 272 299 281 312 395
Stewart-Peterson Strictly Cash 306 370 309 316 287 277 N/A N/A N/A N/A
Top Farmer Intelligence 319 345 292 313 318 325 298 278 311 371
Utterback Marketing Services N/A N/A 354 337 315 314 283 273 329 403
Zwicker Cycle Letter 332 373 322 292 N/A N/A N/A N/A N/A N/A
Descriptive Statistics:
  Average 319 369 311 304 299 298 287 294 324 377
  Median 324 372 310 304 297 299 284 296 322 371
  Minimum 255 327 283 282 266 265 264 256 288 345
  Maximum 382 407 354 340 371 381 334 320 369 448
  Range 128 80 71 58 105 116 70 64 81 102
  Standard Deviation 27 19 17 15 20 22 13 16 20 25
Market Benchmarks
  24-month average 304 366 310 311 297 294 285 284 317 363
  20-month average 317 371 304 296 286 286 277 285 324 361
Farmer Benchmarks
  USDA prices 320 357 300 274 285 279 286 295 341 356
  Market Prices 340 349 293 267 281 277 281 293 352 329
                     
         
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. 
0.89 0.05
5.00 0.56 0.31 -2.03 0.57 1.38 0.44 3.71 1.99 4.00 1.3 0.33 0.03
0.69 -0.53 2.20 2.73 4.48 3.93 3.29 3.06 -0.19 4.63 2.2 -0.04 0.02
-0.46 3.18 3.57 11.12 4.86 6.47 0.19 -0.23 -5.07 6.06 2.6 -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