Table 29. Pricing Results for 38 Market Advisory Programs, Soybeans, Two-Year through Nine-Year Averages, 1995-2003 Crop Years, Commercial Storage Costs
                 
2002-03 2001-03 2000-03 1999-03 1998-03 1997-03 1996-03 1995-03
Two-Year Three-Year Four-Year Five-Year Six-Year Seven-Year Eight-Year Nine-Year
Market Advisory Program Average Average Average Average Average Average Average Average
---$ per bushel (harvest equivalent)---
Ag Alert for Ontario N/A N/A N/A N/A N/A N/A N/A N/A
Ag Financial Strategies 5.36 5.35 N/A N/A N/A N/A N/A N/A
Ag Profit by Hjort N/A N/A N/A N/A N/A N/A N/A N/A
Ag Review 4.48 4.76 4.88 4.84 4.89 5.07 5.36 5.50
AgLine by Doane (cash only) 5.92 5.75 5.68 5.63 5.64 5.73 5.94 6.01
AgLine by Doane (hedge) 5.96 5.76 5.65 5.61 5.61 N/A N/A N/A
AgResource 5.82 5.79 6.05 6.26 6.25 6.28 6.40 6.46
Agri-Edge (cash only) N/A N/A N/A N/A N/A N/A N/A N/A
Agri-Edge (hedge) N/A N/A N/A N/A N/A N/A N/A N/A
Agri-Mark N/A N/A N/A N/A N/A N/A N/A N/A
AgriVisor (aggressive cash) 6.03 5.85 5.72 5.67 5.65 5.75 5.94 5.99
AgriVisor (aggressive hedge) 6.03 5.85 5.71 5.65 5.67 5.73 5.94 6.06
AgriVisor (basic cash) 6.03 5.84 5.71 5.66 5.64 5.74 5.91 5.97
AgriVisor (basic hedge) 6.03 5.84 5.69 5.63 5.66 5.73 5.94 6.04
Allendale (futures only) 5.21 5.37 5.45 5.49 5.56 5.71 5.91 5.95
Brock (cash-only) 5.62 5.60 5.50 5.54 5.56 5.67 5.86 5.90
Brock (hedge) 5.44 5.50 5.48 5.65 5.80 5.96 6.09 6.04
Cash Grain N/A N/A N/A N/A N/A N/A N/A N/A
Co-Mark 6.07 5.91 5.81 N/A N/A N/A N/A N/A
Freese-Notis 5.47 5.47 5.47 5.44 5.50 5.59 5.78 5.85
Grain Field Marketing 6.27 5.96 N/A N/A N/A N/A N/A N/A
Grain Field Report N/A N/A N/A N/A N/A N/A N/A N/A
Grain Marketing Plus 5.41 5.37 5.33 N/A N/A N/A N/A N/A
Harris Weather/Elliott Advisory N/A N/A N/A N/A N/A N/A N/A N/A
North American Ag N/A N/A N/A N/A N/A N/A N/A N/A
Northstar Commodity 6.02 5.87 N/A N/A N/A N/A N/A N/A
Pro Farmer (cash only) 5.95 5.79 5.67 5.63 5.65 5.74 5.94 6.02
Pro Farmer (hedge) 5.59 5.50 5.48 5.54 5.60 5.72 5.94 6.03
Progressive Ag 6.91 6.55 6.16 6.06 6.00 6.10 6.31 N/A
Prosperous Farmer N/A N/A N/A N/A N/A N/A N/A N/A
Risk Management Group (cash only) 5.43 5.42 5.44 5.46 N/A N/A N/A N/A
Risk Management Group (futures & options) 5.34 5.30 5.34 5.41 N/A N/A N/A N/A
Risk Management Group (options only) 5.44 5.36 5.40 5.42 N/A N/A N/A N/A
Stewart-Peterson Advisory Reports 5.36 5.50 5.49 5.59 5.72 5.79 5.99 6.00
Stewart-Peterson Strictly Cash N/A N/A N/A N/A N/A N/A N/A N/A
Top Farmer Intelligence 5.53 5.43 5.51 5.66 5.77 5.81 5.94 5.97
Utterback Marketing Services 5.96 5.61 5.52 5.65 5.73 5.91 N/A N/A
Zwicker Cycle Letter N/A N/A N/A N/A N/A N/A N/A N/A
  Average 5.72 5.63 5.57 5.59 5.66 5.77 5.95 5.99
  Minimum 4.48 4.76 4.88 4.84 4.89 5.07 5.36 5.50
  Maximum 6.91 6.55 6.16 6.26 6.25 6.28 6.40 6.46
  Range 2.43 1.78 1.28 1.42 1.36 1.21 1.04 0.97
Market Benchmarks
  24-Month Average 5.47 5.42 5.42 5.44 5.51 5.62 5.80 5.85
  20-Month Average 5.73 5.56 5.51 5.47 5.50 5.60 5.80 5.87
Farmer Benchmark
  USDA Average Price Received 6.34 6.08 5.88 5.78 5.68 5.75 5.93 6.00
                 
         
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. The average, minimum, maximum and range are computed across the advisory program averages in the indicated column. As a result, the statistics reflect performance only for those advisory programs active during each of the indicated crop years.    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