Table 1.  Pricing Results for 39 Market Advisory Programs, Corn, 1995-2001 Crop Years, Commercial Storage Costs
               
1995 1996 1997 1998 1999 2000 2001
Net Net Net Net Net Net Net
Advisory Advisory Advisory Advisory Advisory Advisory Advisory
Market Advisory Program Price Price Price Price Price Price Price
---$ per bushel (harvest equivalent)---
Ag Alert for Ontario N/A 2.47 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 1.80
Ag Profit by Hjort 3.08 2.49 2.00 2.05 1.89 N/A N/A
Ag Review 2.59 2.76 2.57 2.25 2.12 2.03 2.17
AgLine by Doane (cash only) 3.15 2.65 2.33 2.22 2.08 2.18 1.98
AgLine by Doane (hedge) N/A 2.61 2.29 2.32 2.13 2.26 1.96
AgResource 3.90 3.12 2.07 2.21 2.49 2.78 1.61
Agri-Edge (cash only) 3.07 2.62 2.15 N/A N/A N/A N/A
Agri-Edge (hedge) 3.15 3.10 2.35 N/A N/A N/A N/A
Agri-Mark 3.62 2.73 2.13 1.97 2.03 2.06 N/A
AgriVisor (aggressive cash) 3.30 2.83 2.43 2.25 2.12 2.23 1.98
AgriVisor (aggressive hedge) 3.10 2.58 2.41 2.05 1.99 2.23 1.98
AgriVisor (basic cash) 2.72 2.65 2.34 2.16 2.10 2.21 1.96
AgriVisor (basic hedge) 2.90 2.63 2.33 2.03 2.07 2.21 1.92
Allendale (futures & options) N/A 2.75 2.38 2.09 2.10 1.91 1.99
Allendale (futures only) 2.46 2.08 2.55 2.36 2.20 2.17 2.01
Brock (cash only) 2.74 2.70 2.34 2.10 2.09 1.98 1.88
Brock (hedge) 2.29 2.39 2.64 2.40 2.03 2.29 1.87
Cash Grain N/A N/A N/A N/A 2.06 2.06 N/A
Co-Mark N/A N/A N/A N/A N/A 2.03 2.05
Freese-Notis 2.95 2.87 2.22 2.23 1.78 2.07 1.81
Grain Field Marketing N/A N/A N/A N/A N/A N/A 2.00
Grain Field Report 3.19 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 1.79 2.03
Harris Weather/Elliott Advisory 3.16 2.28 N/A N/A N/A N/A N/A
North American Ag 3.22 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 1.93
Pro Farmer (cash only) 3.16 2.64 2.19 2.09 1.66 1.91 1.94
Pro Farmer (hedge) 3.05 2.67 2.28 2.19 1.69 1.83 1.91
Progressive Ag N/A 2.53 2.26 1.93 1.93 2.12 2.48
Prosperous Farmer 2.91 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 2.10 2.20 2.03
Risk Management Group (futures & options) N/A N/A N/A N/A 1.97 2.19 1.99
Risk Management Group (options only) N/A N/A N/A N/A 1.98 2.16 2.00
Stewart-Peterson Advisory Reports 2.90 2.46 2.09 2.02 1.90 1.81 2.04
Stewart-Peterson Strictly Cash 2.92 2.68 2.32 2.28 1.95 1.94 N/A
Top Farmer Intelligence 3.17 2.44 2.15 2.12 2.10 2.38 2.20
Utterback Marketing Services N/A N/A 2.74 2.51 2.08 2.39 2.11
Zwicker Cycle Letter 3.15 2.56 2.40 2.03 N/A N/A N/A
Descriptive Statistics:
  Average 3.03 2.63 2.32 2.17 2.02 2.13 1.99
  Median 3.08 2.64 2.33 2.16 2.07 2.16 1.98
  Minimum 2.29 2.08 2.00 1.93 1.66 1.79 1.61
  Maximum 3.90 3.12 2.74 2.51 2.49 2.78 2.48
  Range 1.61 1.04 0.74 0.58 0.83 0.99 0.87
  Standard Deviation 0.33 0.22 0.18 0.15 0.16 0.21 0.15
Market Benchmarks
  24-month average 2.90 2.65 2.33 2.24 2.05 2.09 2.00
  20-month average 3.07 2.66 2.27 2.12 1.97 2.01 1.94
Farmer Benchmarks
  USDA average price received 3.06 2.50 2.23 1.97 1.93 1.95 1.95
               
         
Notes:  N/A denotes "not applicable" -- program did not exist or was not evaluated for that marketing year. 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. 0.89 0.05
0.33 0.03
-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
-0.06 0.02
-0.09 0.02
0.329386 0.014129155