Table 8.  Pricing Performance Results for Market Advisory Programs, Soybeans, 1995-1999 Crop Years
           
1995 1996 1997 1998 1999
Net Net Net Net Net
Advisory Advisory Advisory Advisory Advisory
Market Advisory Program Price Price Price Price Price
---$/bushel---
Ag Alert for Ontario N/A 7.37 N/A N/A N/A
Ag Line by Doane (cash-only) 6.59 7.40 6.32 5.65 5.45
Ag Line by Doane (hedge) N/A N/A N/A 5.60 5.45
Ag Profit by Hjort Associates 6.78 7.13 6.16 5.26 5.34
Ag Resource 6.92 7.29 6.47 6.17 7.10
Ag Review 6.59 7.37 6.19 5.11 4.68
Agri-Edge (cash-only) 6.70 7.28 N/A N/A N/A
Agri-Edge (hedge) 6.62 7.18 N/A N/A N/A
Agri-Mark 7.94 7.18 6.68 5.71 5.60
Agri-Visor Aggressive Cash 6.38 7.28 6.33 5.55 5.48
Agri-Visor Aggressive Hedge 6.97 7.40 6.14 5.77 5.40
Agri-Visor Basic Cash 6.42 7.06 6.35 5.55 5.48
Agri-Visor Basic Hedge 6.78 7.46 6.14 5.79 5.40
Allendale (futures only) 6.21 7.30 6.67 5.90 5.64
Brock (cash-only) 6.27 7.20 6.31 5.65 5.68
Brock (hedge) 5.71 6.99 6.93 6.58 6.33
Cash Grain N/A N/A N/A N/A 5.99
Freese-Notis 6.41 7.13 6.15 5.81 5.32
Grain Field Report 6.84 N/A N/A N/A N/A
Harris Weather/Elliott Advisory 6.85 6.80 N/A N/A N/A
North American Ag. 6.44 N/A N/A N/A N/A
Pro Farmer (cash-only) 6.69 7.31 6.29 5.74 5.51
Pro Farmer (hedge) 6.78 7.49 6.47 5.85 5.81
Progressive Ag. N/A 7.80 6.65 5.71 5.68
Prosperous Farmer 6.52 N/A N/A N/A N/A
Risk Management Group (options-only) N/A N/A N/A N/A 5.51
Risk Management Group (futures & options) N/A N/A N/A N/A 5.70
Risk Management Group (cash-only) N/A N/A N/A N/A 5.51
Stewart-Peterson Advisory Reports 6.09 7.37 6.22 6.36 6.00
Stewart-Peterson Strictly Cash 6.28 7.13 6.33 5.96 5.42
Top Farmer Intelligence 6.20 6.84 6.08 6.32 6.23
Utterback Marketing Services N/A N/A 6.99 6.13 6.14
Zwicker Cycle Letter 6.89 7.67 6.59 5.76 N/A
Descriptive Statistics:
  Average 6.59 7.27 6.40 5.82 5.67
  Median 6.59 7.28 6.33 5.77 5.51
  Minimum 5.71 6.80 6.08 5.11 4.68
  Maximum 7.94 7.80 6.99 6.58 7.10
  Range 2.23 1.00 0.91 1.47 2.42
  Standard Deviation 0.41 0.23 0.26 0.34 0.45
Market Benchmark Price 6.26 7.08 6.30 5.86 5.50
           
         
Notes:  N/A denotes "not applicable" -- program did not exist or was not evaluated for that marketing year. Net advisory price and market benchmark price 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. 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