Table 4.  Pricing Performance Results for Market Advisory Service Programs,
Corn, Three-Year Average
  1995 1996 1997  
Net Net Net
Advisory Advisory Advisory Three-year
Advisory Service Program Price Price Price average
----------$/bushel----------
Ag Alert for Ontario N/A 2.47 N/A N/A
Ag Line by Doane (cash-only) 3.15 2.65 2.33 2.71
Ag Line by Doane (hedge) N/A 2.61 2.29 N/A
Ag Profit by Hjort Associates 3.08 2.49 2.00 2.52
Ag Resource 3.90 3.12 2.07 3.03
Ag Review 2.59 2.76 2.57 2.64
Agri-Edge (cash-only) 3.07 2.62 N/A N/A
Agri-Edge (hedge) 3.15 3.10 N/A N/A
Agri-Mark 3.63 2.73 2.13 2.83
Agri-Visor Aggressive Cash 3.30 2.83 2.43 2.85
Agri-Visor Aggressive Hedge 3.10 2.58 2.41 2.70
Agri-Visor Basic Cash 2.72 2.65 2.34 2.57
Agri-Visor Basic Hedge 2.90 2.63 2.33 2.62
Allendale (futures & options) N/A 2.75 2.38 N/A
Allendale (futures only) 2.46 2.08 2.55 2.36
Brock (cash-only) 2.75 2.70 2.34 2.59
Brock (hedge) 2.29 2.39 2.64 2.44
Freese-Notis 2.95 2.87 2.22 2.68
Grain Field Report 3.19 N/A N/A N/A
Harris Weather/Elliott Advisory 3.16 2.28 N/A N/A
North American Ag. 3.22 N/A N/A N/A
Pro Farmer (cash-only) 3.16 2.64 2.19 2.66
Pro Farmer (hedge) 3.06 2.67 2.28 2.67
Progressive Ag. N/A 2.53 2.26 N/A
Prosperous Farmer 2.91 N/A N/A N/A
Stewart-Peterson Advisory Reports 2.90 2.46 2.09 2.48
Stewart-Peterson Strictly Cash 2.92 2.68 2.32 2.64
Top Farmer Intelligence 3.17 2.44 2.15 2.59
Utterback Marketing Services N/A N/A 2.74 N/A
Zwicker Cycle Letter 3.15 2.56 2.40 2.71
Descriptive Statistics:
  Average 3.03 2.63 2.32 2.65
  Median 3.08 2.64 2.33 2.64
  Minimum 2.29 2.08 2.00 2.36
  Maximum 3.90 3.12 2.74 3.03
  Range 1.61 1.04 0.74 0.67
  Standard Deviation 0.33 0.22 0.18 0.15
Market Benchmark Price 2.90 2.65 2.33 2.63
         
         
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 0.02
-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