Table 15.  Pricing Results for 41 Market Advisory Programs, Corn, 2000-2004 Crop Years, On-Farm Variable Storage Costs
                   
2000 2001 2002 2003 2004
Net Net Net Net Net 2003-04 2002-04 2001-04 2000-04
Advisory Advisory Advisory Advisory Advisory Two-Year Three-Year Four-Year Five-Year
Market Advisory Program Price Price Price Price Price 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 N/A
Ag Financial Strategies N/A 1.91 1.85 2.07 2.36 2.21 2.09 2.05 N/A
Ag Market Professional (cash only) N/A N/A N/A N/A 2.29 N/A N/A N/A N/A
Ag Market Professional (hedge) N/A N/A N/A N/A 2.11 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 N/A
Ag Review 2.14 2.29 2.46 2.40 2.51 2.45 2.46 2.41 2.36
AgLine by Doane (cash only) 2.24 2.04 2.11 2.48 2.37 2.42 2.32 2.25 2.25
AgLine by Doane (hedge) 2.32 2.06 2.11 2.45 2.33 2.39 2.30 2.24 2.25
AgResource 2.90 1.78 2.33 2.70 2.74 2.72 2.59 2.39 2.49
Agri-Edge (cash only) N/A 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 N/A
Agri-Mark 2.19 N/A N/A N/A N/A N/A N/A N/A N/A
AgriVisor (aggressive cash) 2.28 2.08 2.37 2.27 2.47 2.37 2.37 2.30 2.29
AgriVisor (aggressive hedge) 2.28 2.08 2.37 2.27 2.57 2.42 2.40 2.32 2.31
AgriVisor (basic cash) 2.26 2.06 2.37 2.27 2.47 2.37 2.37 2.29 2.29
AgriVisor (basic hedge) 2.26 2.03 2.37 2.27 2.47 2.37 2.37 2.28 2.28
Allendale (futures & options) 2.03 2.07 2.06 2.30 2.51 2.41 2.29 2.24 2.19
Allendale (futures only) 2.29 2.09 2.13 2.28 2.43 2.36 2.28 2.23 2.24
Brock (cash only) 2.10 2.02 2.46 2.35 2.33 2.34 2.38 2.29 2.25
Brock (hedge) 2.38 2.01 2.45 2.31 2.27 2.29 2.35 2.26 2.29
Cash Grain 2.14 N/A N/A N/A N/A N/A N/A N/A N/A
Co-Mark 2.10 2.12 2.11 2.29 N/A N/A N/A N/A N/A
Freese-Notis 2.21 1.98 2.21 2.35 2.35 2.35 2.31 2.23 2.22
Grain Field Marketing N/A 2.18 2.12 2.27 2.34 2.31 2.25 2.23 2.23
Grain Field Report N/A N/A N/A N/A N/A N/A N/A N/A N/A
Grain Marketing Plus 1.91 2.12 2.05 N/A 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 N/A
North American Ag N/A N/A N/A N/A N/A N/A N/A N/A N/A
Northstar Commodity N/A 2.05 2.14 2.41 2.35 2.38 2.30 2.24 N/A
Pro Farmer (cash only) 2.06 2.08 2.13 2.22 2.15 2.18 2.17 2.14 2.13
Pro Farmer (hedge) 1.94 1.99 1.94 2.13 2.23 2.18 2.10 2.07 2.05
Progressive Ag 2.20 2.68 2.28 2.56 2.87 2.72 2.57 2.60 2.52
Prosperous Farmer N/A N/A N/A N/A N/A N/A N/A N/A N/A
Risk Management Group (cash only) 2.28 2.15 2.20 2.23 2.19 2.21 2.21 2.19 2.21
Risk Management Group (futures & options) 2.25 2.10 2.37 2.29 2.14 2.21 2.27 2.22 2.23
Risk Management Group (options only) 2.23 2.10 2.21 2.27 2.26 2.27 2.25 2.21 2.22
Stewart-Peterson Advisory Reports 1.90 2.11 2.15 2.24 2.57 2.41 2.32 2.27 2.20
Stewart-Peterson Strictly Cash 2.05 N/A N/A N/A N/A N/A N/A N/A N/A
Top Farmer Intelligence 2.45 2.27 2.07 2.19 2.34 2.26 2.20 2.22 2.26
Utterback Marketing Services 2.39 2.11 2.18 2.07 2.75 2.41 2.34 2.28 2.30
Zwicker Cycle Letter N/A N/A N/A N/A N/A N/A N/A N/A N/A
Descriptive Statistics:
  Average 2.21 2.09 2.21 2.31 2.40 2.36 2.31 2.26 2.26
  Median 2.23 2.08 2.18 2.28 2.35 2.37 2.31 2.24 2.25
  Minimum 1.90 1.78 1.85 2.07 2.11 2.18 2.09 2.05 2.05
  Maximum 2.90 2.68 2.46 2.70 2.87 2.72 2.59 2.60 2.52
  Range 1.00 0.90 0.61 0.63 0.75 0.54 0.50 0.55 0.47
  Standard Deviation 0.20 0.15 0.16 0.14 0.19 0.13 0.12 0.11 0.10
Market Benchmarks
  24-month average 2.15 2.07 2.16 2.30 2.26 2.28 2.24 2.20 2.19
  20-month average 2.09 2.02 2.16 2.31 2.23 2.27 2.23 2.18 2.16
Farmer Benchmarks
  USDA average price received 2.06 2.07 2.22 2.31 2.29 2.30 2.27 2.22 2.19
  Market Prices 2.04 2.03 2.19 2.35 2.06 2.21 2.20 2.16 2.13
                   
Notes:  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.  N/A denotes "Not Applicable," since the indicated program did not exist or was not evaluated for the given crop year. 
6 3 5 0 14
13 8 5 0 17
15 3 -1 -1 11
18 7 1 -4 34