Table 5.  Pricing Performance Results for Market Advisory Programs, Two-Year, Three-Year, Four-Year and Five-Year Averages, Wheat, 1995-1999 Crop Years
         
1998-99 1997-99 1996-99 1995-99
Two-Year Three-Year Four-Year Five-Year
Market Advisory Program Average Average Average Average
---$/bushel---
Ag Profit by Hjort 1.92 1.87 2.42 2.84
Ag Review 2.21 2.13 2.50 2.94
AgLine by Doane (cash only) 2.33 2.50 2.99 3.22
AgLine by Doane (hedge) 2.31 N/A N/A N/A
AgResource 2.75 2.28 2.95 3.20
Agri-Edge (cash-only) N/A N/A N/A N/A
Agri-Edge (hedge) N/A N/A N/A N/A
AgriVisor (aggressive cash) 2.47 2.38 2.79 2.88
AgriVisor (aggressive hedge) 2.36 2.31 2.77 3.02
AgriVisor (basic cash) 2.41 2.34 2.73 2.79
AgriVisor (basic hedge) 2.31 2.28 2.67 2.92
Allendale (futures only) 2.97 2.98 2.97 3.04
Brock (cash only) 2.68 2.90 3.17 3.23
Brock (hedge) 2.98 3.15 3.30 3.31
Cash Grain N/A N/A N/A N/A
Freese-Notis 2.43 2.70 3.13 3.24
Grain Field Report N/A N/A N/A N/A
Harris Weather/Elliott Advisory N/A N/A N/A N/A
North American Ag. N/A N/A N/A N/A
Pro Farmer (cash only) 2.37 2.54 2.93 3.13
Pro Farmer (hedge) 2.45 2.57 2.87 3.17
Progressive Ag N/A N/A N/A N/A
Prosperous Farmer N/A N/A N/A N/A
Risk Management Group (cash only) N/A N/A N/A N/A
Risk Management Group (futures & options) N/A N/A N/A N/A
Risk Management Group (options only) N/A N/A N/A N/A
Stewart-Peterson Advisory Reports 2.53 2.68 2.97 3.05
Stewart-Peterson Strictly Cash 2.67 2.83 3.09 3.20
Top Farmer Intelligence 2.44 2.48 2.76 2.81
Utterback Marketing Services 2.68 3.09 N/A N/A
Zwicker Cycle Letter N/A N/A N/A N/A
Descriptive Statistics:
  Average 2.49 2.55 2.88 3.06
  Median 2.44 2.52 2.93 3.05
  Minimum 1.92 1.87 2.42 2.79
  Maximum 2.98 3.15 3.30 3.31
  Range 1.05 1.28 0.88 0.52
  Standard Deviation 0.26 0.34 0.23 0.17
Market Benchmark Price 2.79 2.93 3.19 3.27
         
         
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.  The market benchmark price is the average daily cash price for the two-year marketing window for each crop year. 0.89 0.05
0.33 0.03
-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
-0.07 0.02
0.30773 0.013383687