Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
MARKETING STRATEGY 94 94 94 94 95 95 95 95 95 95 95 95 95 95 95 95 96 96 96 96 96 96 96 96
LONG FUTURES
  Programs Recommending Strategy 2 2 1 1 2 2 1 2 2 3 4 2
  Average Recommendation (%)a 62.5 60.0 20.0 40.0 35.0 35.0 20.0 25.0 32.5 43.3 31.3 19.5
  Maximum Recommendation (%) 100 100 20 40 40 40 20 30 40 50 50 14
  Minimum Recommendation (%) 25 20 20 40 30 30 20 20 25 20 20 14
  All Program Average (%) 5.0 4.8 0.8 1.6 2.8 2.8 0.8 2.0 2.6 5.2 5.0 1.6
     
 
LONG CALLS
  Programs Recommending Strategy 1 1 1 1 3 4 4 5 2 1 1 3 4 4 4 1 2 3 2
  Average Recommendation (%) 50.0 50.0 50.0 50.0 33.3 36.3 28.8 29.0 25.0 15.0 25.0 23.3 38.1 38.1 44.4 25.0 37.5 50.0 37.5
  Maximum Recommendation (%) 50 50 50 50 50 70 45 45 30 15 25 25 50 50 50 25 50 50 50
  Minimum Recommendation (%) 50 50 50 50 25 25 20 20 20 15 25 20 20 20 32.5 25 25 50 25
  All Program Average (%) 2.0 2.0 2.0 2.0 4.0 5.8 4.6 5.8 2.0 0.6 1.0 2.8 6.1 6.1 7.1 1.0 3.0 6.0 3.0
 
SHORT PUTS
  Programs Recommending Strategy 1 1 1 1 2 2 2 2 3 1 1 1 1
  Average Recommendation (%) 50.0 50.0 50.0 50.0 25.0 25.0 25.0 25.0 23.3 20.0 53.0 53.0 33.0
  Maximum Recommendation (%) 50 50 50 50 25 25 25 25 25 20 53 53 33
  Minimum Recommendation (%) 50 50 50 50 25 25 25 25 20 20 53 53 33
  All Program Average (%) 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.8 0.8 2.1 2.1 1.3
                                                 
a: Percent Refers to Expected Production Before Harvest and Actual Production After Harvest
Table 6. Summary Statistics for Long Futures, Long Call and Short Put Recommendations, Soybeans, 1995