Table 1.  Net Advisory Prices, Wheat, 1995-1998 Crop Years
           
1995 1996 1997 1998 1995-1998 1995-1998
Net Net Net Net Average Standard Deviation
Advisory Advisory Advisory Advisory Net Advisory of Net Advisory
Market Advisory Service Price Price Price Price Price Price
----------$/bushel----------
Ag Line by Doane (cash-only) 4.11 4.47 2.85 2.05 3.37 1.12
Ag Line by Doane (hedge) N/A N/A N/A 2.01 N/A N/A
Ag Profit by Hjort Associates 1 4.54 4.08 1.75 1.34 2.93 1.62
Ag Resource 4.21 4.94 1.34 2.13 3.16 1.70
Ag Review 4.71 3.60 1.97 2.25 3.13 1.27
Agri-Edge (cash-only) 4.01 2.98 N/A N/A N/A N/A
Agri-Edge (hedge) 3.98 3.11 N/A N/A N/A N/A
Agri-Visor Aggressive Cash 3.21 4.03 2.20 2.27 2.93 0.87
Agri-Visor Aggressive Hedge 4.00 4.18 2.20 2.09 3.12 1.13
Agri-Visor Basic Cash 3.03 3.91 2.20 2.15 2.82 0.83
Agri-Visor Basic Hedge 3.91 3.84 2.20 2.05 3.00 1.01
Allendale (futures only) 2 3.32 2.95 3.09 2.65 3.00 0.28
Brock (cash-only) 3.45 3.99 3.32 2.77 3.38 0.50
Brock (hedge) 3.33 3.76 3.49 3.33 3.48 0.20
Freese-Notis 3.66 4.42 3.23 2.54 3.46 0.79
Grain Field Report 3.79 3.60 N/A N/A N/A N/A
Harris Weather/Elliott Advisory 4.11 3.65 N/A N/A N/A N/A
North American Ag. 4.19 N/A N/A N/A N/A N/A
Pro Farmer (cash-only) 3.94 4.09 2.87 2.40 3.33 0.82
Pro Farmer (hedge) 4.38 3.76 2.83 2.47 3.36 0.87
Progressive Ag. N/A 4.29 2.42 2.54 N/A N/A
Prosperous Farmer 3.30 N/A N/A N/A N/A N/A
Stewart-Peterson Advisory Reports 3.34 3.85 2.98 2.62 3.20 0.53
Stewart-Peterson Strictly Cash 3.63 3.90 3.15 2.71 3.35 0.53
Top Farmer Intelligence 3.01 3.60 2.55 2.23 2.85 0.60
Utterback Marketing Services N/A N/A 3.90 2.79 N/A N/A
Zwicker Cycle Letter 3.89 2.74 2.20 2.22 2.76 0.79
Descriptive Statistics:
  Average 3.79 3.81 2.64 2.36 3.15 0.86
  Median 3.90 3.85 2.69 2.27 3.14 0.83
  Minimum 3.01 2.74 1.34 1.34 2.76 0.20
  Maximum 4.71 4.94 3.90 3.33 3.48 1.70
  Range 1.70 2.20 2.56 1.99 0.71 1.49
  Standard Deviation 0.47 0.52 0.64 0.40 0.23 N/A
Market Benchmark Prices
 24-Month Average 3.61 3.95 3.22 2.90 3.42 0.46
 20-Month Average 3.77 4.07 3.12 2.75 3.43 0.60
 16-Month Average 3.97 4.07 3.09 2.54 3.42 0.73
Notes:  N/A denotes "not applicable" -- service did not exist or was not evaluated for that crop year. Net advisory and market benchmark prices are stated on a harvest equivalent basis.  Average price and standard deviation over 1995-1998 is computed only
1 At the time of analysis for this report, only a preliminary 1998 net advisory price for Ag Profit by Hjort Associates was available.  See for Jirik, Good, Irwin, Jackson and Martines-Filho (2000) for complete details.
2 At the time of analysis for this report, only preliminary 1997 and 1998 net advisory prices for Allendale (futures only) were available.  See for Jirik, Good, Irwin, Jackson and Martines-Filho (2000) for complete details.