Table 10.  Average Returns above Alternative Market Benchmark Revenues for Market Advisory Services, Corn and Soybeans, 1995 - 1998
             
Average
Number of Return above
Market Benchmark/ Advisory Benchmark Standard Two-tail
Sample Period Services Revenue Deviation t-statistic p-value  
-----percent-----
24-Month Average
1995 25 4.51 8.30 2.72 0.01 ***
1996 24 0.30 5.22 0.28 0.78
1997 21 0.33 5.49 0.28 0.79
1998 22 -2.00 4.95 -1.89 0.07 *
1995-1998 92 0.90 6.57 1.32 0.19
20-Month Average
1995 25 0.32 8.30 0.20 0.85
1996 24 -0.51 5.22 -0.48 0.63
1997 21 2.28 5.49 1.91 0.07 *
1998 22 2.62 4.95 2.49 0.02 **
1995-1998 92 1.10 6.25 1.69 0.09 *
16-Month Average
1995 25 -4.90 8.30 -2.95 0.01 ***
1996 24 0.30 5.22 0.28 0.78
1997 21 5.29 5.49 4.41 0.00 ***
1998 22 8.90 4.95 8.43 0.00 ***
1995-1998 92 2.08 8.07 2.47 0.02 **
Note:  Three stars indicates significance at the 1% level, two stars indicates significance at the 5% level, and one star indicates significance at the 10% level.  The return for each service is computed as the continuously-compounded rate of return (natural logarithm of the ratio of net advisory price to the benchmark price).