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COMMODITY PRODUCTS

2009 Moore Research Report

Seasonals Charts Strategies

SOYBEAN COMPLEX

Welcome to the

2009 Moore Historical


SOYBEAN COMPLEX Report
This comprehensive report provides historical daily charts, cash and basis charts,
and seasonal strategies to help you trade.
CME Group offers the following Soybean Complex futures and options contracts:
Soybeans, Mini-sized Soybeans, Soybean Oil and Soybean Meal.

For more information on CME Group Soybean Complex products,


visit www.cmegroup.com/commodities or
contact commodities@cmegroup.com.
To begin trading Soybean Complex futures and options on the CME Globex
electronic trading platform, contact your broker directly.

Table of Contents
Historical Soybean Complex Report

2009 Edition

Page
For Your
Information

Preface ...............................................................................................................2
Seasonal Pattern and Average Chart Explanation .............................................3
Strategy Sheet Explanation ................................................................................4

Soybeans

Section Index .....................................................................................................5


Seasonal Patterns & Weekly Charts ..................................................................6
Trade and Spread Strategy Summary ..............................................................25
Strategy Detail Tables......................................................................................27

Soybean
Meal

Section Index ...................................................................................................45


Seasonal Patterns & Weekly Charts ................................................................46
Trade and Spread Strategy Summary ..............................................................66
Strategy Detail Tables......................................................................................67

Soybean
Oil

Section Index ...................................................................................................79


Seasonal Patterns & Weekly Charts ................................................................80
Trade and Spread Strategy Summary ........................................................... 100
Strategy Detail Tables....................................................................................101

Product
& Crush
Spreads

Section Index .................................................................................................111


Spread Seasonal Patterns & Weekly Charts ..................................................112
Spread Strategy Summary .............................................................................124
Spread Strategy Detail Tables .......................................................................127

Cash &
Basis

Section Index .................................................................................................147


Cash Seasonal Patterns & Weekly Charts .....................................................148
Basis Seasonal Average & Weekly Charts ....................................................150
Chronological Summary of Trade Listings ...................................................163
(All charts current through at least December 2008.)

The Moore Research Center, Inc. (MRCI), located on 73 secluded


acres outside Eugene, Oregon, is sought for its futures market analysis,
combining many years of intensive computerized study and the
experience of real-time trading. Our hardware and software both are
constantly upgraded, giving MRCI the speed and depth of capability to
study price movement that we believe are state-of-the-art for the industry.

Copyright 1989-2009. Moore Research Center, Inc. No part of this publication may be
reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, facsimile, or any information storage and retrieval system,
without written permission. Retransmission by fax or other means which results in the
creation of an additional copy is unlawful.

Preface

Preface

nowledge is the foundation essential to making


consistently successful decisions. Would a
prudent businessman market product or purchase raw
material without first researching profit and cost
potential? Would a successful trader/investor jump at a
hot tip or a story in The Wall St. Journal? Or would
he look before he leaped?
The purpose of this publication is to quantify price
historyboth cash and futuresin the soy complex,
offer it from a variety of relevant perspectives, and
present it in a format useful to those whose commerce
is substantially affected by fluctuations in prices for
soybeans, soymeal, and soyoil. Therefore, not only
speculative traders but also producers, processors, and
business executives throughout the industry are
encouraged to examine the following comprehensive
study thoroughly, for seasonality can be a primary
component in price movement.

Windows of Opportunity
From these seasonal patterns, one can derive a
seasonal approach to markets that is designed to
anticipate, enter, and capture recurrent price trends as
they emerge and exit before they are realized. Within
these patterns exist certain well-defined seasonal tops,
bottoms, and trends.
Moore Research Center, Inc. (MRCI) computer
programs have rigorously analyzed trends that have
recurred in the same direction during a similar period of
time in at least 80% of the last 15 years. The underlying
theory assumes that causal fundamental factors specific
to that time period have existed and may be influential
again, thus making each historically 80%-or-more
reliable strategy valid as a potential trading idea.
However, because past performance is not necessarily
indicative of future results, these strategies are not
recommendations.

Seasonal Patterns
Nearly all markets real estate, interest rates,
cash hogs, grain futures are affected by various
fundamental forces, many of which are seasonal in
nature. Such forces as weather, fiscal calendars,
Treasury refunding, and the specific characteristics of
futures contracts (such as delivery and expiration) tend
to recur and influence, to one degree or another, certain
markets every year. As any market or spread relationship responds to a series of annually recurring factors,
seasonal price patterns tend to evolve.
Daily seasonal patterns, both the 15- and most recent
5-year, are derived from and a composite of historical
daily price activity in the specific contract, spread, cash
market, or basis relationship under consideration. The
numerical index to the right quantifies the historical
tendency to reach a seasonal high (100) or low (0) at a
given time. In other words, the graph reaches 100 when
prices have most consistently been highest.
Weekly continuation charts are also contract-specific.
They are intended better to illustrate historical relative
value, turning points, and long-term trends for particular
trading, spread, hedging, and basis strategies.
Points on basis charts are plotted by subtracting the
futures price from the designated cash price, thereby
obtaining a cash quote of $2.00 under or $0.50 over
futures. Basis charts in this publication present seasonal
average basis levels.

Spreads, Crush, and Red


Except for the soybean crush (see below), spread
values in this publication are found by subtracting the
price (or value) of the second-named contract(s) from
that for the first. Formulas with appropriate factors and
number of contracts for calculating Soyoil as % of
Product Value and crush values are found on page 111.
The soybean crush margin, denoting the value added
to a bushel of soybeans by crushing into its products, is
found by subtracting the value of 10 contracts of
soybeans from the total value of 11 soymeal and 9 soyoil
contracts. The crush spread is traded as an entity unto
itself. Thus, a soybean processor might put on (sell) the
crush sell products/buy soybeans to hedge
(protect) his profit margin. Conversely, a trader
expecting the crush to widen could reverse (buy) the
crush buy products/sell soybeans. Strategy tables
herein reflect buying or selling the crush margin. The
CBOT also recognizes the mini-crush (1 contract of
soybeans versus 1 each of soymeal and soyoil).
Certain values in crush strategy detail tables are
rounded to the nearest /bu. Thus, although the
calculations for average profits and profit amounts
in dollar equity are accurate, any slight discrepancies
that appear are due to this rounding process.
Red denotes a contract deferred one year from a
nearby of the same delivery month. For example, during
the year 2009, the November 2010 contract is designated
as Red until the November 2009 contract expires.

HISTORICAL SOYBEAN COMPLEX REPORT

Seasonal Pattern Chart Explanation


chart consists of two aspects of a markets seasonal patternthe most recent 15-year (solid line) and its
Each
most recent 5-year (dotted line), December 2008 contracts inclusive. Thus, any evolution in the pattern may
be perceived, as well as trends, tops, and bottoms coincident to both. The numerical index to the right measures
the greatest historical tendency for the market to make a seasonal high (100) or low (0) at a given time.
Besides illustrating the more obvious seasonal tops, seasonal bottoms, and seasonal trends, these patterns also
suggest certain cause/effect phenomena which may present secondary opportunities. For instance, do smaller but
well-defined breaks/rallies typically precede certain events, such as Thanksgiving or first deliveries against a lead
contract? If so, does there exist an implied opportunity?

Jan Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Seasonal Average Chart Explanation

substitutes for a similar transaction in the cash market, the relationship between cash and futures is of vital importance.
Charts in the Basis section portray an averaged difference between a designated cash price and a designated
futures contract price, commonly referred to as basis. Per industry standard, the daily futures closing price is
subtracted from the underlying cash price to determine chart points and cash quotes of $5.00 over or $0.20 under
futuresthe fluctuation of cash around futures. Because futures prices are the reference against which cash quotes are
made, futures prices are represented on the charts by the 0-line. [The chart itself consists of both the 15-year average
(the solid line) and its most recent 5-year average (the dotted line).] From these charts, one may discern not only the
degree to which basis typically widens/narrows at any given time of the year but also the rubber-band effect of the
delivery process.

Soybeans: No 1 yellow Cent-Ill. - Jan Soybeans(CBOT) 15 Year Average(94-08)


40.00

20.00
15 Year
Pattern

0.00

-20.00
5 Year
Pattern

-40.00

-60.00
Feb

Mar

Apr

MOORE RESEARCH CENTER, INC.

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Seasonal Pattern & Average Explanation

markets are designed to enable those involved in the commerce of the underlying commodity to manage their
Futures
risk of price fluctuation. Because commercial hedging is a purchase or sale in futures that temporarily

Strategy Explanation Sheet

nique MRCI strategy sheets present each historically reliable seasonal trade or spread with a table of its relevant
Udetail.
Traders are encouraged to evaluate each strategy individually; some may be more speculative in nature than
others.
To detect a trade, MRCIs computer system scrutinizes the last 15 years (when available) of historical price data
for those trends recurrent, with a minimum reliability of 80%, during similar time windows. Those strategies are then
subjected to further criteria established for average profit and duration of time window. Once discovered and initially
evaluated, a trading strategy is outlined, its crucial data tabulated, and then presented in the format below for closer
analysis perspective on the third dimension, if you will.
(Please note: Special reports may contain certain strategies that may have commercial rather than speculative
application, for instance, those that duplicate/overlap other strategies or trade a spot month contract during delivery.

Reading the Table


For each contract year studied, the table lists entry date and price, exit date and price, and the ultimate profit or
loss. Entry and exit prices are definitively based on the settlement price of the dates listed, as are profit and loss
values. If an optimized trade date fell on a weekend or holiday, entry was considered made on the following trading
day while exit on the prior. In order to more accurately reflect historical fact and actual market movement, studies on
these strategy sheets do not utilize the equity protection techniques (STOPS) suggested for real-time trading. The
table encourages further evaluation by providing peak equity/worst drawdown dates and amounts.
Because past performance is not necessarily indicative of future results, these strategies are not
recommendations but rather presentations of quantified historical fact. MRCI urges all traders to employ
appropriate money-management techniques at all times.

Buy Nov Soybeans(CBOT) / Sell May Soybeans(CBOT)

Strategy Explanation

Enter on approximately 01/03 - Exit on approximately 01/24


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/03/08
01/03/07
01/03/06
01/03/05
01/05/04
01/03/03
01/03/02
01/03/01
01/03/00
01/04/99
01/05/98
01/03/97
01/03/96
01/03/95
01/03/94

Percentage Correct

ENTRY
PRICE
-123.00
30.50
6.50
17.50
-154.50
-51.25
8.00
0.25
14.75
10.50
-18.75
-31.00
-58.00
19.00
-61.50
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
01/24/08
01/24/07
01/24/06
01/24/05
01/23/04
01/24/03
01/24/02
01/24/01
01/24/00
01/22/99
01/23/98
01/24/97
01/24/96
01/24/95
01/24/94

EXIT
PRICE
-34.00
36.25
21.25
18.25
-167.25
-37.00
8.25
5.50
19.00
11.75
-16.75
-57.00
-39.75
19.50
-48.50

PROFIT

PROFIT
AMOUNT

89.00
5.75
14.75
0.75
-12.75
14.25
0.25
5.25
4.25
1.25
2.00
-26.00
18.25
0.50
13.00

4450.00
287.50
737.50
37.50
-637.50
712.50
12.50
262.50
212.50
62.50
100.00
-1300.00
912.50
25.00
650.00

13.02
-19.38
8.70

650.96
-968.75
435.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/17/08
01/19/07
01/24/06
01/18/05
01/09/04
01/21/03
01/18/02
01/18/01
01/21/00
01/11/99
01/15/98
01/06/97
01/24/96
01/05/95
01/10/94

5100.00
312.50
737.50
100.00
687.50
937.50
100.00
262.50
250.00
87.50
287.50
87.50
912.50
75.00
650.00
Protective Stop
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

01/04/06
01/07/05
01/14/04
01/06/03
01/14/02

-12.50
-187.50
-987.50
-12.50
-112.50

01/04/00
01/13/99
01/22/98
01/17/97

-62.50
-125.00
-137.50
-1450.00

01/11/95

-50.00
(566)
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

HISTORICAL SOYBEAN COMPLEX REPORT

Soybeans (S)

Page
SEASONAL PATTERNS & WEEKLY CONTINUATIONS
Jan (F), Mar (H), May (K), Jul (N)..................................................................................... 6
Aug (Q), Sep (U), Nov (X) ................................................................................................... 8
Jan vs: Mar, May, Jul, Nov ............................................................................................... 10
Mar vs: May, Jul, Aug, Nov .............................................................................................. 12
May vs: Jul, Aug, Sep, Nov ............................................................................................... 14
Jul vs: Aug, Sep, Nov, Jan................................................................................................. 16
Aug vs: Sep, Nov, Jan, May .............................................................................................. 18
Sep vs: Nov, Jan, Mar, Jul ................................................................................................. 20
Nov vs: Jan, Mar, May, Jul ................................................................................................ 22
Nov vs: Red Nov ............................................................................................................ 24

STRATEGIES

Soybeans

Seasonal Trade & Spreads Strategy Summary ................................................................ 25


Seasonal Strategy Detail Tables ......................................................................................... 27

MOORE RESEARCH CENTER, INC.

Jan Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Mar Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

May Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

Soybeans Seasonal Patterns

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jul Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybeans(CBOT)


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Mar Soybeans(CBOT)


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1998

1999

2000

2001

2002

2003

2004

Weekly May Soybeans(CBOT)


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1998

1999

2000

2001

2002

2003

2004

Weekly Jul Soybeans(CBOT)


1800.00

Soybeans Weeklies

1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1998

1999

MOORE RESEARCH CENTER, INC.

2000

2001

2002

2003

2004

Aug Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

Soybeans Seasonal Patterns

20

0
Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybeans(CBOT)


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Sep Soybeans(CBOT)


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1998

1999

2000

2001

2002

2003

2004

Weekly Nov Soybeans(CBOT)


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
1999

2000

2001

2002

2003

2004

Soybeans Weeklies

1998

MOORE RESEARCH CENTER, INC.

Jan Soybeans(CBOT) - Mar Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybeans(CBOT) - May Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybeans(CBOT) - Jul Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Spread Patterns: January

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

10

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybeans(CBOT) - Mar Soybeans(CBOT)


40.00
30.00
20.00
10.00
0.00
-10.00
-20.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Jan Soybeans(CBOT) - May Soybeans(CBOT)


80.00
60.00
40.00
20.00
0.00
-20.00
-40.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jan Soybeans(CBOT) - Jul Soybeans(CBOT)


100.00
80.00
60.00
40.00

Soybean Spread Weeklies: January

20.00
0.00
-20.00
-40.00
-60.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jan Soybeans(CBOT) - Nov Soybeans(CBOT)


250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

11

Mar Soybeans(CBOT) - May Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybeans(CBOT) - Jul Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybeans(CBOT) - Aug Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

Soybean Spread Patterns: March

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

12

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Mar Soybeans(CBOT) - May Soybeans(CBOT)


60.00
40.00
20.00
0.00
-20.00
-40.00
-60.00
-80.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Mar Soybeans(CBOT) - Jul Soybeans(CBOT)


80.00
60.00
40.00
20.00
0.00
-20.00
-40.00
-60.00
-80.00
1999

2000

2001

2002

2003

2004

2005

Weekly Mar Soybeans(CBOT) - Aug Soybeans(CBOT)


100.00
80.00
60.00
40.00
20.00
0.00

Soybean Spread Weeklies: March

-20.00
-40.00
-60.00
-80.00
1999

2000

2001

2002

2003

2004

2005

Weekly Mar Soybeans(CBOT) - Nov Soybeans(CBOT)


250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

13

May Soybeans(CBOT) - Jul Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybeans(CBOT) - Aug Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybeans(CBOT) - Sep Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40

Soybean Spread Patterns: May

5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

14

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly May Soybeans(CBOT) - Jul Soybeans(CBOT)


40.00
30.00
20.00
10.00
0.00
-10.00
-20.00
-30.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly May Soybeans(CBOT) - Aug Soybeans(CBOT)


120.00
100.00
80.00
60.00
40.00
20.00
0.00
-20.00
-40.00
1999

2000

2001

2002

2003

2004

2005

Weekly May Soybeans(CBOT) - Sep Soybeans(CBOT)


250.00
200.00
150.00
100.00

Soybean Spread Weeklies: May

50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly May Soybeans(CBOT) - Nov Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

15

Jul Soybeans(CBOT) - Aug Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybeans(CBOT) - Sep Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40

Soybean Spread Patterns: July

5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybeans(CBOT) - Jan Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

16

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jul Soybeans(CBOT) - Aug Soybeans(CBOT)


160.00
140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
-20.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Jul Soybeans(CBOT) - Sep Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jul Soybeans(CBOT) - Nov Soybeans(CBOT)


350.00
300.00
250.00
200.00
150.00
100.00

Soybean Spread Weeklies: July

50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jul Soybeans(CBOT) - Jan Soybeans(CBOT)


350.00
300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

17

Aug Soybeans(CBOT) - Sep Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybeans(CBOT) - Jan Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

Soybean Spread Patterns: August

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybeans(CBOT) - May Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

18

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybeans(CBOT) - Sep Soybeans(CBOT)


140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
-20.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Aug Soybeans(CBOT) - Nov Soybeans(CBOT)


250.00
200.00
150.00
100.00
50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly Aug Soybeans(CBOT) - Jan Soybeans(CBOT)


250.00
200.00
150.00

Soybean Spread Weeklies: August

100.00
50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly Aug Soybeans(CBOT) - May Soybeans(CBOT)


250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

19

Sep Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybeans(CBOT) - Jan Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybeans(CBOT) - Mar Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80

Soybean Spread Patterns: September

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybeans(CBOT) - Jul Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

20

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Sep Soybeans(CBOT) - Nov Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Sep Soybeans(CBOT) - Jan Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly Sep Soybeans(CBOT) - Mar Soybeans(CBOT)


300.00
250.00
200.00

Soybean Spread Weeklies: September

150.00
100.00
50.00
0.00
-50.00
1999

2000

2001

2002

2003

2004

2005

Weekly Sep Soybeans(CBOT) - Jul Soybeans(CBOT)


250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

21

Nov Soybeans(CBOT) - Jan Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Nov Soybeans(CBOT) - Mar Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Nov Soybeans(CBOT) - May Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80

Soybean Spread Patterns: November

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Nov Soybeans(CBOT) - Jul Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Dec

22

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Nov Soybeans(CBOT) - Jan Soybeans(CBOT)


10.00
5.00
0.00
-5.00
-10.00
-15.00
-20.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Nov Soybeans(CBOT) - Mar Soybeans(CBOT)


40.00
30.00
20.00
10.00
0.00
-10.00
-20.00
-30.00
-40.00
1999

2000

2001

2002

2003

2004

2005

Weekly Nov Soybeans(CBOT) - May Soybeans(CBOT)


80.00
60.00
40.00

Soybean Spread Weeklies: November

20.00
0.00
-20.00
-40.00
-60.00
1999

2000

2001

2002

2003

2004

2005

Weekly Nov Soybeans(CBOT) - Jul Soybeans(CBOT)


100.00
80.00
60.00
40.00
20.00
0.00
-20.00
-40.00
-60.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

23

Nov Soybeans(CBOT) - Nov Soybeans(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Weekly Nov Soybeans(CBOT) - "Red" Nov Soybeans(CBOT)


250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
2000

2001

2002

2003

2004

2005

2006

2007

2008

Soybean Spread Pattern & Weekly: November

1999

24

HISTORICAL SOYBEAN COMPLEX REPORT

Seasonal Soybean & Spread Strategies


Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

Buy Nov Soybeans(CBOT)


Sell May Soybeans(CBOT)

1/03

1/24

87

13

15

435

20/22

27

Buy Nov Soybeans(CBOT)


Sell May Soybeans(CBOT)

1/03

2/02

93

14

15

497

16/31

27

Buy Soybeans(CBOT)September

1/30

2/19

87

13

15

866

41/21

28

Buy Soybeans(CBOT)July

2/08

3/01

80

12

15

1457

66/22

28

Buy Aug Soybeans(CBOT)


Sell Sep Soybeans(CBOT)

2/08

3/26

87

13

15

461

10/48

29

Buy Soybeans(CBOT)September

2/10

2/18

87

13

15

464

52/9

29

Buy Jul Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

2/22

3/27

80

12

15

836

24/35

30

Buy May Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

3/07

3/27

80

12

15

587

28/21

30

Buy Nov Soybeans(CBOT)


Sell May Soybeans(CBOT)

3/30

4/07

87

13

15

425

47/9

31

10 Buy Soybeans(CBOT)July

4/08

5/03

80

12

15

689

27/26

31

11 Buy Soybeans(CBOT)November

4/16

5/18

87

13

15

823

25/33

32

12 Buy Soybeans(CBOT)January

4/28

5/18

80

12

15

1015

48/21

32

13 Buy Nov Soybeans(CBOT)


Sell Jul Soybeans(CBOT)

5/06

5/23

80

12

15

488

27/18

33

14 Sell Soybeans(CBOT)August

5/19

5/29

80

12

15

469

43/11

33

15 Buy Soybeans(CBOT)September

5/27

6/02

87

13

15

628

90/7

34

16 Buy Soybeans(CBOT)July

6/04

6/18

80

12

15

1234

82/15

34

17 Buy Aug Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

6/11

7/10

87

13

15

618

21/30

35

18 Sell Soybeans(CBOT)November

6/18

8/05

87

13

15

2503

51/49

35

19 Sell Soybeans(CBOT)November

6/29

7/27

87

13

15

1713

59/29

36

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


MOORE RESEARCH CENTER, INC.

25

Soybeans Strategy Summary

Seasonal
Strategy

Soybeans Strategy Summary

Seasonal Soybean & Spread Strategies


Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

20 Buy Mar Soybeans(CBOT)


Sell Aug Soybeans(CBOT)

7/12

7/30

100

15

15

1185

62/19

36

21 Sell Soybeans(CBOT)November

7/13

7/28

87

13

15

1799

112/16

37

22 Sell Soybeans(CBOT)September

7/13

8/08

93

14

15

2758

102/27

37

23 Buy "Red" Nov Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

7/17

8/11

93

14

15

1094

42/26

38

24 Buy Soybeans(CBOT)March

8/20

9/01

80

12

15

718

55/13

38

25 Sell Soybeans(CBOT)November

9/02

10/02

80

12

15

1458

47/31

39

26 Buy "Red" Nov Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

9/12

10/03

87

13

15

573

26/22

39

27 Sell Soybeans(CBOT)November

9/21

10/02

93

14

15

1246

104/12

40

28 Buy Mar Soybeans(CBOT)


Sell Sep Soybeans(CBOT)

10/04

12/19

80

12

15

389

5/77

40

29 Buy Soybeans(CBOT)January

10/06

12/26

80

12

15

2102

26/82

41

30 Buy May Soybeans(CBOT)


Sell Sep Soybeans(CBOT)

10/16

12/14

87

13

15

433

7/60

41

31 Buy Soybeans(CBOT)January

10/21

11/17

80

12

15

914

33/28

42

32 Buy Soybeans(CBOT)January

10/30

11/17

80

12

15

533

28/19

42

33 Buy Soybeans(CBOT)July

11/12

12/26

80

12

15

1258

28/45

43

34 Buy Soybeans(CBOT)January

12/18

12/24

93

14

15

454

65/7

43

35 Buy Nov Soybeans(CBOT)


Sell Mar Soybeans(CBOT)

12/26

2/03

93

14

15

544

14/40

44

Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


26

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Nov Soybeans(CBOT) / Sell May Soybeans(CBOT)


Enter on approximately 01/03 - Exit on approximately 01/24
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/03/08
01/03/07
01/03/06
01/03/05
01/05/04
01/03/03
01/03/02
01/03/01
01/03/00
01/04/99
01/05/98
01/03/97
01/03/96
01/03/95
01/03/94

Percentage Correct

ENTRY
PRICE
-123.00
30.50
6.50
17.50
-154.50
-51.25
8.00
0.25
14.75
10.50
-18.75
-31.00
-58.00
19.00
-61.50
87

EXIT
DATE
01/24/08
01/24/07
01/24/06
01/24/05
01/23/04
01/24/03
01/24/02
01/24/01
01/24/00
01/22/99
01/23/98
01/24/97
01/24/96
01/24/95
01/24/94

EXIT
PRICE
-34.00
36.25
21.25
18.25
-167.25
-37.00
8.25
5.50
19.00
11.75
-16.75
-57.00
-39.75
19.50
-48.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

89.00
5.75
14.75
0.75
-12.75
14.25
0.25
5.25
4.25
1.25
2.00
-26.00
18.25
0.50
13.00

4450.00
287.50
737.50
37.50
-637.50
712.50
12.50
262.50
212.50
62.50
100.00
-1300.00
912.50
25.00
650.00

13.02
-19.38
8.70

650.96
-968.75
435.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/17/08
01/19/07
01/24/06
01/18/05
01/09/04
01/21/03
01/18/02
01/18/01
01/21/00
01/11/99
01/15/98
01/06/97
01/24/96
01/05/95
01/10/94

5100.00
312.50
737.50
100.00
687.50
937.50
100.00
262.50
250.00
87.50
287.50
87.50
912.50
75.00
650.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

01/04/06
01/07/05
01/14/04
01/06/03
01/14/02

-12.50
-187.50
-987.50
-12.50
-112.50

01/04/00
01/13/99
01/22/98
01/17/97

-62.50
-125.00
-137.50
-1450.00

01/11/95

-50.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Nov Soybeans(CBOT) / Sell May Soybeans(CBOT)


Enter on approximately 01/03 - Exit on approximately 02/02
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/03/08
01/03/07
01/03/06
01/03/05
01/05/04
01/03/03
01/03/02
01/03/01
01/03/00
01/04/99
01/05/98
01/03/97
01/03/96
01/03/95
01/03/94

Percentage Correct

ENTRY
PRICE
-123.00
30.50
6.50
17.50
-154.50
-51.25
8.00
0.25
14.75
10.50
-18.75
-31.00
-58.00
19.00
-61.50
93

EXIT
DATE
02/01/08
02/02/07
02/02/06
02/02/05
02/02/04
01/31/03
02/01/02
02/02/01
02/02/00
02/02/99
02/02/98
01/31/97
02/02/96
02/02/95
02/02/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-52.25
37.25
24.25
20.00
-152.50
-35.75
9.75
7.25
17.50
12.75
-12.50
-55.75
-32.50
20.00
-49.50

PROFIT

PROFIT
AMOUNT

70.75
6.75
17.75
2.50
2.00
15.50
1.75
7.00
2.75
2.25
6.25
-24.75
25.50
1.00
12.00

3537.50
337.50
887.50
125.00
100.00
775.00
87.50
350.00
137.50
112.50
312.50
-1237.50
1275.00
50.00
600.00

12.41
-24.75
9.93

620.54
-1237.50
496.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/17/08
01/29/07
02/01/06
02/01/05
01/09/04
01/21/03
01/18/02
02/01/01
01/21/00
01/29/99
02/02/98
01/06/97
02/02/96
01/05/95
01/28/94

5100.00
387.50
900.00
125.00
687.50
937.50
100.00
537.50
250.00
162.50
312.50
87.50
1275.00
75.00
900.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

01/04/06
01/07/05
01/14/04
01/06/03
01/14/02

-12.50
-187.50
-987.50
-12.50
-112.50

01/04/00
01/13/99
01/22/98
01/17/97

-62.50
-125.00
-137.50
-1450.00

01/11/95

-50.00

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

27

Soybeans Strategy Tables

CONT
YEAR

Soybeans(CBOT)September
Contract Size: 5,000 bushels

Buy on approximately 01/30 - Exit on approximately 02/19


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/30/08
01/30/07
01/30/06
01/31/05
01/30/04
01/30/03
01/30/02
01/30/01
01/31/00
02/01/99
01/30/98
01/30/97
01/30/96
01/30/95
01/31/94

Percentage Correct

BUY
PRICE
1257.00
761.50
623.00
522.00
731.00
542.00
437.50
469.50
528.50
517.75
664.25
708.25
720.50
568.25
659.75
87

EXIT
DATE
02/19/08
02/16/07
02/17/06
02/18/05
02/19/04
02/19/03
02/19/02
02/16/01
02/18/00
02/19/99
02/19/98
02/19/97
02/16/96
02/17/95
02/18/94

EXIT
PRICE
1384.50
804.00
624.50
561.75
745.00
542.50
447.00
458.75
535.50
493.00
665.00
732.75
734.50
579.00
662.75

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

127.50
42.50
1.50
39.75
14.00
0.50
9.50
-10.75
7.00
-24.75
0.75
24.50
14.00
10.75
3.00

6375.00
2125.00
75.00
1987.50
700.00
25.00
475.00
-537.50
350.00
-1237.50
37.50
1225.00
700.00
537.50
150.00

22.71
-17.75
17.32

1135.58
-887.50
865.83

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/19/08
02/16/07
02/17/06
02/18/05
02/19/04
02/14/03
02/13/02
02/02/01
02/18/00
02/02/99
02/10/98
02/18/97
02/16/96
02/15/95
02/16/94

6375.00
2125.00
75.00
1987.50
700.00
300.00
550.00
575.00
350.00
337.50
1137.50
1337.50
700.00
575.00
400.00

WORST
EQUITY
DATE
01/31/07
02/07/06
02/04/05
02/04/04
02/07/03
02/01/02
02/13/01
02/03/00
02/19/99
02/17/98
02/03/97
02/05/96
01/31/95
02/07/94

WORST
EQUITY
AMOUNT
-175.00
-900.00
-487.50
-1225.00
-412.50
-100.00
-675.00
-400.00
-1237.50
-162.50
-412.50
-225.00
-62.50
-425.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)July
Contract Size: 5,000 bushels

Soybeans Strategy Tables

Buy on approximately 02/08 - Exit on approximately 03/01


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/08/08
02/08/07
02/08/06
02/08/05
02/09/04
02/10/03
02/08/02
02/08/01
02/08/00
02/08/99
02/09/98
02/10/97
02/08/96
02/08/95
02/08/94

Percentage Correct

BUY
PRICE
1368.00
773.50
602.50
510.75
829.25
561.00
437.50
464.00
518.75
517.50
699.50
739.00
737.75
569.25
681.00
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
03/01/08
03/01/07
03/01/06
03/01/05
03/01/04
02/28/03
03/01/02
03/01/01
03/01/00
03/01/99
02/27/98
02/28/97
03/01/96
03/01/95
03/01/94

EXIT
PRICE
1546.00
776.25
602.00
617.50
944.50
574.25
455.50
467.75
520.75
471.25
663.75
792.00
754.00
573.50
687.25

PROFIT

PROFIT
AMOUNT

178.00
2.75
-0.50
106.75
115.25
13.25
18.00
3.75
2.00
-46.25
-35.75
53.00
16.25
4.25
6.25

8900.00
137.50
-25.00
5337.50
5762.50
662.50
900.00
187.50
100.00
-2312.50
-1787.50
2650.00
812.50
212.50
312.50

43.29
-27.50
29.13

2164.58
-1375.00
1456.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/01/08
02/22/07
02/17/06
02/28/05
03/01/04
02/27/03
03/01/02
03/01/01
02/18/00

8900.00
2087.50
1075.00
5712.50
5762.50
987.50
900.00
187.50
700.00

02/10/98
02/25/97
02/26/96
02/24/95
02/14/94

150.00
2725.00
1212.50
487.50
587.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/12/08

-937.50

02/23/06

-337.50

02/12/04
02/12/03

-1025.00
-12.50

02/26/01
02/25/00
02/26/99
02/24/98

-575.00
-250.00
-2562.50
-2000.00

02/12/96

-87.50

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

28

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Aug Soybeans(CBOT) / Sell Sep Soybeans(CBOT)


Enter on approximately 02/08 - Exit on approximately 03/26
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/08/08
02/08/07
02/08/06
02/08/05
02/09/04
02/10/03
02/08/02
02/08/01
02/08/00
02/08/99
02/09/98
02/10/97
02/08/96
02/08/95
02/08/94

ENTRY
PRICE
37.50
-6.50
-3.50
-1.75
62.25
11.50
-1.00
0.75
-2.75
-1.00
13.50
24.50
15.25
-0.25
17.25
87

Percentage Correct

EXIT
DATE
03/26/08
03/26/07
03/24/06
03/24/05
03/26/04
03/26/03
03/26/02
03/26/01
03/24/00
03/26/99
03/26/98
03/26/97
03/26/96
03/24/95
03/25/94

EXIT
PRICE

PROFIT

46.00
-6.25
-3.00
16.00
109.00
23.50
3.50
3.75
-1.75
0.50
17.25
67.75
10.00
-2.25
20.00

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

8.50
0.25
0.50
17.75
46.75
12.00
4.50
3.00
1.00
1.50
3.75
43.25
-5.25
-2.00
2.75

425.00
12.50
25.00
887.50
2337.50
600.00
225.00
150.00
50.00
75.00
187.50
2162.50
-262.50
-100.00
137.50

11.19
-3.63
9.22

559.62
-181.25
460.83

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/29/08
02/28/07
02/16/06
03/17/05
03/22/04
03/14/03
03/26/02
03/26/01
02/25/00
03/26/99
03/26/98
03/20/97
02/13/96

1125.00
150.00
250.00
1287.50
2962.50
600.00
225.00
150.00
187.50
75.00
187.50
2287.50
200.00

02/11/94

200.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/21/08
03/20/07
03/20/06
02/16/05
02/13/04

-650.00
-137.50
-50.00
-62.50
-287.50

02/15/02
02/13/01
02/11/00
02/26/99
02/25/98

-62.50
-12.50
-12.50
-150.00
-225.00

03/19/96
03/15/95
03/07/94

-500.00
-162.50
-237.50
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)September
Contract Size: 5,000 bushels

CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/11/08
02/12/07
02/10/06
02/10/05
02/10/04
02/10/03
02/11/02
02/12/01
02/10/00
02/10/99
02/10/98
02/10/97
02/12/96
02/10/95
02/10/94

Percentage Correct

BUY
PRICE
1307.00
786.50
611.00
522.00
726.00
542.50
439.50
458.50
533.75
511.00
687.00
711.50
721.25
578.75
661.00
87

EXIT
DATE
02/15/08
02/16/07
02/17/06
02/18/05
02/18/04
02/18/03
02/15/02
02/16/01
02/18/00
02/18/99
02/18/98
02/18/97
02/16/96
02/17/95
02/18/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1350.00
804.00
624.50
561.75
733.00
546.00
448.50
458.75
535.50
498.00
665.25
735.00
734.50
579.00
662.75

PROFIT

PROFIT
AMOUNT

43.00
17.50
13.50
39.75
7.00
3.50
9.00
0.25
1.75
-13.00
-21.75
23.50
13.25
0.25
1.75

2150.00
875.00
675.00
1987.50
350.00
175.00
450.00
12.50
87.50
-650.00
-1087.50
1175.00
662.50
12.50
87.50

13.38
-17.38
9.28

669.23
-868.75
464.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/15/08
02/16/07
02/17/06
02/18/05
02/17/04
02/14/03
02/13/02
02/16/01
02/18/00

2150.00
875.00
675.00
1987.50
475.00
275.00
450.00
12.50
87.50

02/18/97
02/16/96
02/15/95
02/16/94

1175.00
662.50
50.00
337.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/12/08

-550.00

02/14/06

-50.00

02/12/04
02/12/03

-300.00
-175.00

02/13/01
02/14/00
02/18/99
02/17/98

-125.00
-325.00
-650.00
-1300.00

02/13/96
02/13/95

-12.50
-100.00

13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

29

Soybeans Strategy Tables

Buy on approximately 02/10 - Exit on approximately 02/18

Buy Jul Soybeans(CBOT) / Sell Nov Soybeans(CBOT)


Enter on approximately 02/22 - Exit on approximately 03/27
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/22/08
02/22/07
02/22/06
02/22/05
02/23/04
02/24/03
02/22/02
02/22/01
02/22/00
02/22/99
02/23/98
02/24/97
02/22/96
02/22/95
02/22/94

Percentage Correct

ENTRY
PRICE
62.25
-22.50
-10.50
-7.25
183.00
45.50
-5.75
-2.25
-7.25
-12.00
16.00
75.25
14.25
-13.50
33.50
80

EXIT
DATE
03/27/08
03/27/07
03/27/06
03/24/05
03/26/04
03/27/03
03/27/02
03/27/01
03/27/00
03/26/99
03/27/98
03/27/97
03/27/96
03/27/95
03/25/94

EXIT
PRICE
134.00
-26.75
-16.00
30.00
235.50
58.75
1.00
0.50
-14.00
-11.50
20.25
144.00
17.50
-13.00
39.25

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

71.75
-4.25
-5.50
37.25
52.50
13.25
6.75
2.75
-6.75
0.50
4.25
68.75
3.25
0.50
5.75

3587.50
-212.50
-275.00
1862.50
2625.00
662.50
337.50
137.50
-337.50
25.00
212.50
3437.50
162.50
25.00
287.50

22.27
-5.50
16.72

1113.54
-275.00
835.83

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/27/08
02/23/07
03/03/06
03/16/05
03/22/04
03/27/03
03/26/02
03/26/01
02/25/00
03/16/99
03/12/98
03/27/97
02/26/96
03/31/95
03/24/94

3587.50
37.50
12.50
2525.00
4062.50
662.50
375.00
150.00
75.00
100.00
400.00
3437.50
362.50
50.00
325.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/21/07
03/16/06

-287.50
-287.50

02/26/04
03/06/03
02/27/02
03/31/01
03/27/00
02/26/99
03/03/98

-462.50
-75.00
-75.00
-50.00
-337.50
-237.50
-175.00

03/19/96
03/14/95
03/08/94

-475.00
-75.00
-187.50
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy May Soybeans(CBOT) / Sell Nov Soybeans(CBOT)

Soybeans Strategy Tables

Enter on approximately 03/07 - Exit on approximately 03/27


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/07/08
03/07/07
03/07/06
03/07/05
03/08/04
03/07/03
03/07/02
03/07/01
03/07/00
03/08/99
03/09/98
03/07/97
03/07/96
03/07/95
03/07/94

Percentage Correct

ENTRY
PRICE
97.25
-38.00
-24.00
5.50
187.50
47.00
-11.00
-8.50
-17.00
-22.25
12.75
105.50
-0.50
-24.75
29.00
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
03/27/08
03/27/07
03/27/06
03/24/05
03/26/04
03/27/03
03/27/02
03/27/01
03/27/00
03/26/99
03/27/98
03/27/97
03/27/96
03/27/95
03/25/94

EXIT
PRICE
118.75
-42.75
-28.50
24.75
245.50
61.50
-1.50
-3.50
-24.50
-19.50
18.00
141.00
11.00
-23.75
38.00

PROFIT

PROFIT
AMOUNT

21.50
-4.75
-4.50
19.25
58.00
14.50
9.50
5.00
-7.50
2.75
5.25
35.50
11.50
1.00
9.00

1075.00
-237.50
-225.00
962.50
2900.00
725.00
475.00
250.00
-375.00
137.50
262.50
1775.00
575.00
50.00
450.00

16.06
-5.58
11.73

803.13
-279.17
586.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/27/08

1075.00

03/16/05
03/22/04
03/27/03
03/26/02
03/27/01
03/13/00
03/16/99
03/26/98
03/27/97
03/27/96
03/17/95
03/24/94

1625.00
4087.50
725.00
500.00
250.00
12.50
287.50
400.00
1775.00
575.00
50.00
500.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/18/08
03/21/07
03/24/06

-1512.50
-312.50
-275.00

03/08/02
03/08/01
03/27/00

-12.50
-125.00
-375.00

03/08/96
03/24/95
03/08/94

-150.00
-50.00
-37.50
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

30

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Nov Soybeans(CBOT) / Sell May Soybeans(CBOT)


Enter on approximately 03/30 - Exit on approximately 04/07
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/31/08
03/30/07
03/30/06
03/30/05
03/30/04
03/31/03
04/01/02
03/30/01
03/30/00
03/30/99
03/30/98
03/31/97
04/01/96
03/30/95
03/30/94

Percentage Correct

ENTRY
PRICE
-107.75
43.75
27.75
-29.75
-258.75
-59.25
4.25
-0.50
22.00
21.25
-17.50
-162.75
-10.50
24.00
-40.00
87

EXIT
DATE
04/07/08
04/05/07
04/07/06
04/07/05
04/07/04
04/07/03
04/05/02
04/06/01
04/07/00
04/07/99
04/07/98
04/07/97
04/04/96
04/07/95
04/07/94

EXIT
PRICE
-40.00
44.25
31.00
-10.25
-230.00
-72.25
1.25
0.75
23.75
22.50
-16.00
-157.75
-4.50
27.50
-36.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

67.75
0.50
3.25
19.50
28.75
-13.00
-3.00
1.25
1.75
1.25
1.50
5.00
6.00
3.50
3.50

3387.50
25.00
162.50
975.00
1437.50
-650.00
-150.00
62.50
87.50
62.50
75.00
250.00
300.00
175.00
175.00

11.04
-8.00
8.50

551.92
-400.00
425.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/07/08
04/04/07
03/31/06
04/07/05
04/06/04

3387.50
25.00
175.00
975.00
1437.50

04/03/01
04/05/00
04/05/99
04/07/98
04/04/97
04/04/96
04/07/95
04/05/94

250.00
187.50
137.50
75.00
787.50
300.00
175.00
350.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/02/07

-75.00

04/01/04
04/07/03
04/05/02

-237.50
-650.00
-150.00

04/02/98
04/02/97

-437.50
-1000.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)July
Contract Size: 5,000 bushels

CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/08/08
04/09/07
04/10/06
04/08/05
04/08/04
04/08/03
04/08/02
04/09/01
04/10/00
04/08/99
04/08/98
04/08/97
04/08/96
04/10/95
04/08/94

Percentage Correct

BUY
PRICE
1268.75
766.50
569.00
619.50
989.00
599.50
460.75
445.75
544.00
486.00
633.25
853.50
790.75
596.25
656.50
80

EXIT
DATE
05/02/08
05/03/07
05/03/06
05/03/05
05/03/04
05/02/03
05/03/02
05/03/01
05/03/00
05/03/99
05/01/98
05/02/97
05/03/96
05/03/95
05/03/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1304.50
747.75
605.50
625.50
1021.00
631.00
461.25
437.75
572.00
489.25
641.75
885.50
816.50
583.50
663.00

PROFIT

PROFIT
AMOUNT

35.75
-18.75
36.50
6.00
32.00
31.50
0.50
-8.00
28.00
3.25
8.50
32.00
25.75
-12.75
6.50

1787.50
-937.50
1825.00
300.00
1600.00
1575.00
25.00
-400.00
1400.00
162.50
425.00
1600.00
1287.50
-637.50
325.00

20.52
-13.17
13.78

1026.04
-658.33
689.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/15/08

6412.50

05/01/06
04/21/05
05/03/04
05/01/03
04/24/02

1887.50
1287.50
1600.00
1600.00
1125.00

05/03/00
04/20/99
04/21/98
04/30/97
04/25/96
04/11/95
04/29/94

1400.00
937.50
862.50
1675.00
2012.50
262.50
1000.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/24/07

-2012.50

04/18/05
04/21/04
04/11/03
04/15/02
04/25/01
04/28/00
04/29/99
04/13/98
04/11/97
04/16/96
04/27/95
04/15/94

-162.50
-2775.00
-25.00
-100.00
-1162.50
-237.50
-75.00
-250.00
-850.00
-425.00
-1050.00
-287.50
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

31

Soybeans Strategy Tables

Buy on approximately 04/08 - Exit on approximately 05/03

Soybeans(CBOT)November
Contract Size: 5,000 bushels

Buy on approximately 04/16 - Exit on approximately 05/18


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/16/08
04/16/07
04/17/06
04/18/05
04/16/04
04/16/03
04/16/02
04/16/01
04/17/00
04/16/99
04/16/98
04/16/97
04/16/96
04/17/95
04/18/94

Percentage Correct

BUY
PRICE
1273.50
782.50
604.50
603.75
732.50
532.75
463.00
435.00
556.75
511.25
617.75
691.00
763.00
599.00
610.00
87

EXIT
DATE
05/16/08
05/18/07
05/18/06
05/18/05
05/18/04
05/16/03
05/17/02
05/18/01
05/18/00
05/18/99
05/18/98
05/16/97
05/17/96
05/18/95
05/18/94

EXIT
PRICE
1349.25
821.25
621.00
630.25
695.75
571.75
468.00
438.00
560.25
487.00
622.75
709.50
784.00
606.25
658.25

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

75.75
38.75
16.50
26.50
-36.75
39.00
5.00
3.00
3.50
-24.25
5.00
18.50
21.00
7.25
48.25

3787.50
1937.50
825.00
1325.00
-1837.50
1950.00
250.00
150.00
175.00
-1212.50
250.00
925.00
1050.00
362.50
2412.50

23.69
-30.50
16.47

1184.62
-1525.00
823.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/16/08
05/16/07
05/12/06
04/21/05
05/05/04
05/16/03
04/24/02
05/17/01
05/03/00
04/20/99
05/07/98
05/09/97
04/23/96
05/18/95
05/18/94

3787.50
1937.50
1375.00
1387.50
2700.00
1950.00
350.00
162.50
1362.50
425.00
1012.50
975.00
1550.00
362.50
2412.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/01/08
04/24/07
04/21/06

-4012.50
-1462.50
-25.00

05/18/04
04/25/03
05/06/02
04/23/01
04/28/00
05/14/99
04/30/98
04/18/97
04/29/96
05/15/95

-1837.50
-100.00
-512.50
-800.00
-262.50
-1437.50
-37.50
-237.50
-275.00
-700.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)January
Contract Size: 5,000 bushels

Soybeans Strategy Tables

Buy on approximately 04/28 - Exit on approximately 05/18


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

04/28/08
04/30/07
04/28/06
04/28/05
04/28/04
04/28/03
04/29/02
04/30/01
04/28/00
04/28/99
04/28/98
04/28/97
04/29/96
04/28/95
04/28/94

Percentage Correct

BUY
PRICE
1210.25
779.50
627.00
621.25
730.50
534.50
462.25
444.50
559.25
513.50
632.00
696.00
763.00
605.50
632.00
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
05/16/08
05/18/07
05/18/06
05/18/05
05/18/04
05/16/03
05/17/02
05/18/01
05/18/00
05/18/99
05/18/98
05/16/97
05/17/96
05/18/95
05/18/94

EXIT
PRICE
1361.75
830.50
629.50
632.25
697.00
574.25
471.75
447.50
565.75
497.25
630.00
714.00
789.50
612.00
662.50

PROFIT

PROFIT
AMOUNT

151.50
51.00
2.50
11.00
-33.50
39.75
9.50
3.00
6.50
-16.25
-2.00
18.00
26.50
6.50
30.50

7575.00
2550.00
125.00
550.00
-1675.00
1987.50
475.00
150.00
325.00
-812.50
-100.00
900.00
1325.00
325.00
1525.00

29.69
-17.25
20.30

1484.38
-862.50
1015.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/16/08
05/18/07
05/12/06
05/18/05
05/05/04
05/16/03
05/09/02
05/17/01
05/03/00

7575.00
2550.00
662.50
550.00
2650.00
1987.50
637.50
175.00
1625.00

05/07/98
05/09/97
05/16/96
05/02/95
05/18/94

625.00
987.50
1750.00
437.50
1525.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/01/08
05/08/07
05/08/06
05/13/05
05/18/04

-175.00
-25.00
-75.00
-400.00
-1675.00

05/06/02
05/10/01

-200.00
-625.00

05/14/99
05/01/98

-1062.50
-362.50

05/08/95
05/09/94

-575.00
-637.50
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

32

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Nov Soybeans(CBOT) / Sell Jul Soybeans(CBOT)


Enter on approximately 05/06 - Exit on approximately 05/23
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/06/08
05/07/07
05/08/06
05/06/05
05/06/04
05/06/03
05/06/02
05/07/01
05/08/00
05/06/99
05/06/98
05/06/97
05/06/96
05/08/95
05/06/94

Percentage Correct

ENTRY
PRICE
-59.50
29.75
18.25
-15.00
-233.00
-72.00
-10.00
-8.25
10.75
12.25
-21.00
-190.75
-35.50
17.25
-49.25
80

EXIT
DATE
05/23/08
05/23/07
05/23/06
05/23/05
05/21/04
05/23/03
05/23/02
05/23/01
05/23/00
05/21/99
05/22/98
05/23/97
05/23/96
05/23/95
05/23/94

EXIT
PRICE
-14.50
30.00
24.00
-2.00
-188.50
-63.75
-20.25
-14.00
11.00
12.75
-22.25
-158.50
-33.00
18.25
-39.00

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

45.00
0.25
5.75
13.00
44.50
8.25
-10.25
-5.75
0.25
0.50
-1.25
32.25
2.50
1.00
10.25

2250.00
12.50
287.50
650.00
2225.00
412.50
-512.50
-287.50
12.50
25.00
-62.50
1612.50
125.00
50.00
512.50

13.63
-5.75
9.75

681.25
-287.50
487.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/21/08
05/23/07
05/23/06
05/20/05
05/18/04
05/22/03
05/09/02

3275.00
12.50
287.50
650.00
2737.50
575.00
187.50

05/12/00
05/13/99
05/19/98
05/15/97
05/15/96
05/17/95
05/23/94

162.50
87.50
150.00
1925.00
475.00
87.50
512.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/08/08
05/16/07

-237.50
-62.50

05/11/04
05/13/03
05/22/02
05/23/01
05/19/00
05/19/99
05/12/98

-1725.00
-687.50
-525.00
-287.50
-25.00
-50.00
-200.00

05/08/96
05/22/95
05/11/94

-50.00
-62.50
-137.50
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)August
Contract Size: 5,000 bushels

CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/19/08
05/21/07
05/19/06
05/19/05
05/19/04
05/19/03
05/20/02
05/21/01
05/19/00
05/19/99
05/19/98
05/19/97
05/20/96
05/19/95
05/19/94

Percentage Correct

SELL
PRICE
1333.75
807.25
593.75
629.25
849.50
632.75
486.50
438.00
557.00
474.25
628.75
837.50
805.00
587.50
689.50
80

EXIT
DATE
05/29/08
05/29/07
05/26/06
05/27/05
05/28/04
05/29/03
05/29/02
05/29/01
05/26/00
05/28/99
05/29/98
05/29/97
05/29/96
05/26/95
05/27/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1328.25
805.25
589.00
669.00
775.00
627.25
491.00
434.50
536.25
464.00
610.50
822.75
774.00
610.50
672.25

PROFIT

PROFIT
AMOUNT

5.50
2.00
4.75
-39.75
74.50
5.50
-4.50
3.50
20.75
10.25
18.25
14.75
31.00
-23.00
17.25

275.00
100.00
237.50
-1987.50
3725.00
275.00
-225.00
175.00
1037.50
512.50
912.50
737.50
1550.00
-1150.00
862.50

17.33
-22.42
9.38

866.67
-1120.83
469.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/22/08
05/22/07
05/22/06

275.00
350.00
250.00

05/28/04
05/28/03
05/24/02
05/29/01
05/25/00
05/24/99
05/27/98
05/27/97
05/29/96

3725.00
600.00
37.50
175.00
1375.00
800.00
925.00
2350.00
1550.00

05/26/94

975.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/28/08
05/25/07

-2100.00
-612.50

05/26/05

-2375.00

05/20/03
05/28/02
05/24/01

-350.00
-262.50
-237.50

05/20/98

-125.00

05/23/96
05/26/95
05/23/94

-137.50
-1150.00
-1937.50
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

33

Soybeans Strategy Tables

Sell on approximately 05/19 - Exit on approximately 05/29

Soybeans(CBOT)September
Contract Size: 5,000 bushels

Buy on approximately 05/27 - Exit on approximately 06/02


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/27/08
05/29/07
05/30/06
05/27/05
05/27/04
05/27/03
05/28/02
05/29/01
05/30/00
05/27/99
05/27/98
05/27/97
05/28/96
05/30/95
05/27/94

Percentage Correct

BUY
PRICE
1344.75
812.50
596.75
667.50
707.00
592.75
481.25
422.50
519.75
462.00
596.50
705.50
786.50
590.00
655.75
87

EXIT
DATE
06/02/08
06/01/07
06/02/06
06/02/05
06/02/04
06/02/03
05/31/02
06/01/01
06/02/00
06/02/99
06/02/98
06/02/97
05/31/96
06/02/95
06/02/94

EXIT
PRICE
1361.00
832.50
621.00
670.25
755.50
580.50
493.00
438.50
536.75
463.00
597.00
732.50
764.75
595.00
688.00

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

16.25
20.00
24.25
2.75
48.50
-12.25
11.75
16.00
17.00
1.00
0.50
27.00
-21.75
5.00
32.25

812.50
1000.00
1212.50
137.50
2425.00
-612.50
587.50
800.00
850.00
50.00
25.00
1350.00
-1087.50
250.00
1612.50

17.10
-17.00
12.55

854.81
-850.00
627.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/28/08
06/01/07
06/02/06
06/01/05
06/01/04

875.00
1000.00
1212.50
1050.00
2850.00

05/31/02
06/01/01
06/02/00
05/28/99
06/02/98
05/30/97

587.50
800.00
850.00
225.00
25.00
1350.00

06/01/95
06/02/94

425.00
1612.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/29/08

-1137.50

05/31/06

-187.50

06/02/03
05/29/02
05/30/01

-612.50
-75.00
-125.00

06/01/98

-187.50

05/29/96

-1400.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)July
Contract Size: 5,000 bushels

Soybeans Strategy Tables

Buy on approximately 06/04 - Exit on approximately 06/18


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/04/08
06/04/07
06/05/06
06/06/05
06/04/04
06/04/03
06/04/02
06/04/01
06/05/00
06/04/99
06/04/98
06/04/97
06/04/96
06/05/95
06/06/94

Percentage Correct

BUY
PRICE
1389.00
815.75
603.25
677.75
838.50
615.25
509.75
453.00
529.25
464.50
618.75
830.00
769.75
583.50
659.25
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
06/18/08
06/18/07
06/16/06
06/17/05
06/18/04
06/18/03
06/18/02
06/18/01
06/16/00
06/18/99
06/18/98
06/18/97
06/18/96
06/16/95
06/17/94

EXIT
PRICE
1556.00
855.25
600.25
724.00
872.00
629.00
493.00
464.00
504.75
474.75
631.00
832.50
791.00
589.00
711.00

PROFIT

PROFIT
AMOUNT

167.00
39.50
-3.00
46.25
33.50
13.75
-16.75
11.00
-24.50
10.25
12.25
2.50
21.25
5.50
51.75

8350.00
1975.00
-150.00
2312.50
1675.00
687.50
-837.50
550.00
-1225.00
512.50
612.50
125.00
1062.50
275.00
2587.50

34.54
-14.75
24.68

1727.08
-737.50
1234.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/13/08
06/18/07

8550.00
1975.00

06/17/05
06/15/04
06/10/03
06/05/02
06/13/01
06/06/00
06/18/99
06/18/98
06/13/97
06/10/96
06/15/95
06/17/94

2312.50
2275.00
912.50
200.00
1050.00
62.50
512.50
612.50
1225.00
1062.50
437.50
2587.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

06/09/06
06/10/05

-875.00
-575.00

06/13/03
06/18/02

-37.50
-837.50

06/16/00
06/17/99
06/11/98
06/09/97
06/05/96
06/12/95

-1225.00
-75.00
-500.00
-950.00
-212.50
-512.50

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

34

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Aug Soybeans(CBOT) / Sell Nov Soybeans(CBOT)


Enter on approximately 06/11 - Exit on approximately 07/10
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/11/08
06/11/07
06/12/06
06/13/05
06/14/04
06/11/03
06/11/02
06/11/01
06/12/00
06/11/99
06/11/98
06/11/97
06/11/96
06/12/95
06/13/94

Percentage Correct

ENTRY
PRICE
10.25
-25.50
-21.75
-11.50
124.25
47.75
19.00
12.50
-2.25
-8.50
18.25
109.00
29.50
-13.75
23.75
87

EXIT
DATE
07/10/08
07/10/07
07/10/06
07/08/05
07/09/04
07/10/03
07/10/02
07/10/01
07/10/00
07/09/99
07/10/98
07/10/97
07/10/96
07/10/95
07/08/94

EXIT
PRICE
13.50
-27.00
-21.50
-10.00
167.75
72.75
36.00
6.50
7.00
0.50
37.25
149.75
34.50
-8.25
37.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

3.25
-1.50
0.25
1.50
43.50
25.00
17.00
-6.00
9.25
9.00
19.00
40.75
5.00
5.50
13.75

162.50
-75.00
12.50
75.00
2175.00
1250.00
850.00
-300.00
462.50
450.00
950.00
2037.50
250.00
275.00
687.50

14.83
-3.75
12.35

741.35
-187.50
617.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/13/08

925.00

06/27/06
07/01/05
07/09/04
07/10/03
07/09/02
06/20/01
06/26/00
07/09/99
07/10/98
07/10/97
07/10/96
07/10/95
07/08/94

162.50
75.00
2175.00
1250.00
850.00
150.00
1012.50
450.00
950.00
2037.50
250.00
275.00
687.50

WORST
EQUITY
DATE
07/02/08
06/25/07
06/13/06
06/24/05
06/29/04
06/12/03
06/25/02
07/10/01
06/13/00
06/30/99
06/26/98
07/02/97
06/25/96
06/13/95
06/17/94

WORST
EQUITY
AMOUNT
-37.50
-75.00
-12.50
-300.00
-925.00
-12.50
-187.50
-300.00
-12.50
-87.50
-475.00
-1212.50
-312.50
-25.00
-525.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)November
Contract Size: 5,000 bushels

CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/18/08
06/18/07
06/19/06
06/20/05
06/18/04
06/18/03
06/18/02
06/18/01
06/19/00
06/18/99
06/18/98
06/18/97
06/18/96
06/19/95
06/20/94

Percentage Correct

SELL
PRICE
1543.00
889.00
611.00
757.50
666.00
574.00
470.75
444.50
495.75
480.50
599.00
668.50
758.50
626.50
665.00
87

EXIT
DATE
08/05/08
08/03/07
08/04/06
08/05/05
08/05/04
08/05/03
08/05/02
08/03/01
08/04/00
08/05/99
08/05/98
08/05/97
08/05/96
08/04/95
08/05/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1269.00
861.00
597.00
669.00
571.25
512.75
535.00
485.50
449.75
480.25
541.25
634.50
734.75
597.25
560.25

PROFIT

PROFIT
AMOUNT

274.00
28.00
14.00
88.50
94.75
61.25
-64.25
-41.00
46.00
0.25
57.75
34.00
23.75
29.25
104.75

13700.00
1400.00
700.00
4425.00
4737.50
3062.50
-3212.50
-2050.00
2300.00
12.50
2887.50
1700.00
1187.50
1462.50
5237.50

65.87
-52.63
50.07

3293.27
-2631.25
2503.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/05/08
06/22/07
08/01/06
06/30/05
08/04/04
07/31/03
06/20/02
06/25/01
07/17/00
07/09/99
08/05/98
07/07/97
07/26/96
06/30/95
08/04/94

13700.00
2912.50
862.50
4562.50
5450.00
3250.00
175.00
662.50
2362.50
3450.00
2887.50
4212.50
1612.50
1575.00
5512.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/03/08
07/13/07
07/06/06
06/24/05
06/25/04

-4400.00
-2987.50
-1212.50
-412.50
-2175.00

07/22/02
07/12/01

-4212.50
-4000.00

08/04/99
06/24/98

-687.50
-2775.00

07/12/96
07/17/95

-2525.00
-1425.00

13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

35

Soybeans Strategy Tables

Sell on approximately 06/18 - Exit on approximately 08/05

Soybeans(CBOT)November
Contract Size: 5,000 bushels

Sell on approximately 06/29 - Exit on approximately 07/27


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/30/08
06/29/07
06/29/06
06/29/05
06/29/04
06/30/03
07/01/02
06/29/01
06/29/00
06/29/99
06/29/98
06/30/97
07/01/96
06/29/95
06/29/94

Percentage Correct

SELL
PRICE
1574.00
881.75
609.50
689.00
699.75
552.50
518.75
464.00
491.75
456.25
606.00
617.50
754.75
599.00
635.00
87

EXIT
DATE
07/25/08
07/27/07
07/27/06
07/27/05
07/27/04
07/25/03
07/26/02
07/27/01
07/27/00
07/27/99
07/27/98
07/25/97
07/26/96
07/27/95
07/27/94

EXIT
PRICE
1386.50
840.50
595.00
686.50
597.00
514.75
515.25
513.25
462.50
435.25
566.00
601.25
726.25
635.25
560.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

187.50
41.25
14.50
2.50
102.75
37.75
3.50
-49.25
29.25
21.00
40.00
16.25
28.50
-36.25
74.50

9375.00
2062.50
725.00
125.00
5137.50
1887.50
175.00
-2462.50
1462.50
1050.00
2000.00
812.50
1425.00
-1812.50
3725.00

46.10
-42.75
34.25

2304.81
-2137.50
1712.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/24/08
07/25/07
07/27/06
06/30/05
07/22/04
07/23/03
07/08/02

10050.00
2125.00
725.00
1137.50
5300.00
2112.50
562.50

07/17/00
07/09/99
07/24/98
07/07/97
07/26/96
06/30/95
07/21/94

2162.50
2237.50
2075.00
1662.50
1425.00
200.00
3912.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/03/08
07/13/07
07/06/06
07/15/05

-2850.00
-3350.00
-1287.50
-2125.00

07/01/03
07/22/02
07/12/01

-325.00
-1812.50
-3025.00

07/23/99
07/08/98
07/15/97
07/12/96
07/17/95

-1262.50
-625.00
-406.25
-2712.50
-2800.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Mar Soybeans(CBOT) / Sell Aug Soybeans(CBOT)

Soybeans Strategy Tables

Enter on approximately 07/12 - Exit on approximately 07/30


CONT
YEAR

ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

07/14/08
07/12/07
07/12/06
07/12/05
07/12/04
07/14/03
07/12/02
07/12/01
07/12/00
07/12/99
07/13/98
07/14/97
07/12/96
07/12/95
07/12/94

Percentage Correct

ENTRY
PRICE
2.25
49.25
40.00
4.25
-136.00
-65.00
-37.25
0.50
9.25
14.25
-25.25
-145.00
-22.25
21.25
-21.25
100

Average Profit on Winning Trades

EXIT
DATE
07/30/08
07/30/07
07/28/06
07/29/05
07/30/04
07/30/03
07/30/02
07/30/01
07/28/00
07/30/99
07/30/98
07/30/97
07/30/96
07/28/95
07/29/94

EXIT
PRICE
43.50
51.00
43.25
16.25
-14.00
-10.25
-21.00
4.50
28.75
17.00
-4.25
-111.00
-18.75
26.50
-7.00

PROFIT

PROFIT
AMOUNT

41.25
1.75
3.25
12.00
122.00
54.75
16.25
4.00
19.50
2.75
21.00
34.00
3.50
5.25
14.25

2062.50
87.50
162.50
600.00
6100.00
2737.50
812.50
200.00
975.00
137.50
1050.00
1700.00
175.00
262.50
712.50

23.70

1185.00

Average Loss on Trades


Average Net Profit Per Trade

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/30/08
07/26/07
07/18/06
07/29/05
07/30/04
07/30/03
07/30/02
07/30/01
07/27/00
07/26/99
07/29/98
07/30/97
07/23/96
07/28/95
07/28/94

2062.50
237.50
237.50
600.00
6100.00
2737.50
812.50
200.00
1087.50
575.00
1062.50
1700.00
575.00
262.50
862.50
Winners
Losers

23.70

1185.00

Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/15/08
07/13/07

-137.50
-12.50

07/15/05

-137.50

07/17/02
07/17/01

-575.00
-275.00

07/13/99
07/14/98

-62.50
-487.50

07/17/95

-100.00

15
0
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

36

HISTORICAL SOYBEAN COMPLEX REPORT

Soybeans(CBOT)November
Contract Size: 5,000 bushels

Sell on approximately 07/13 - Exit on approximately 07/28


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

Percentage Correct

SELL
PRICE
1559.00
948.75
622.00
725.00
641.25
529.25
533.25
522.75
460.25
419.75
596.50
621.75
808.75
626.25
583.00
87

EXIT
DATE
07/28/08
07/27/07
07/28/06
07/28/05
07/28/04
07/28/03
07/26/02
07/27/01
07/28/00
07/28/99
07/28/98
07/28/97
07/26/96
07/28/95
07/28/94

EXIT
PRICE

PROFIT

1396.00
840.50
598.00
698.25
575.75
524.50
515.25
513.25
456.25
428.75
567.25
619.25
726.25
634.50
564.00

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

163.00
108.25
24.00
26.75
65.50
4.75
18.00
9.50
4.00
-9.00
29.25
2.50
82.50
-8.25
19.00

8150.00
5412.50
1200.00
1337.50
3275.00
237.50
900.00
475.00
200.00
-450.00
1462.50
125.00
4125.00
-412.50
950.00

42.85
-8.63
35.98

2142.31
-431.25
1799.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/24/08
07/25/07
07/27/06
07/21/05
07/28/04
07/23/03
07/26/02
07/20/01
07/17/00
07/16/99
07/24/98
07/21/97
07/26/96

9300.00
5475.00
1350.00
2275.00
3275.00
950.00
900.00
1825.00
587.50
125.00
1600.00
1237.50
4125.00

07/21/94

1312.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/14/06
07/15/05
07/14/04

-150.00
-325.00
-1350.00

07/22/02
07/17/01
07/21/00
07/23/99
07/17/98
07/15/97

-1087.50
-25.00
-462.50
-3087.50
-375.00
-193.75

07/17/95

-1437.50

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)September
Contract Size: 5,000 bushels

CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

Percentage Correct

SELL
PRICE
1568.50
931.25
607.75
716.75
656.50
555.50
547.50
524.00
455.75
418.25
608.50
674.00
822.25
620.75
597.25
93

EXIT
DATE
08/08/08
08/08/07
08/08/06
08/08/05
08/06/04
08/08/03
08/08/02
08/08/01
08/08/00
08/06/99
08/07/98
08/08/97
08/08/96
08/08/95
08/08/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1177.00
862.00
562.50
664.25
569.25
524.00
545.50
510.50
444.25
477.00
532.75
672.50
767.75
597.25
570.75

PROFIT

PROFIT
AMOUNT

391.50
69.25
45.25
52.50
87.25
31.50
2.00
13.50
11.50
-58.75
75.75
1.50
54.50
23.50
26.50

19575.00
3462.50
2262.50
2625.00
4362.50
1575.00
100.00
675.00
575.00
-2937.50
3787.50
75.00
2725.00
1175.00
1325.00

63.29
-58.75
55.15

3164.29
-2937.50
2757.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/08/08
07/25/07
08/08/06
08/05/05
08/04/04
07/31/03
07/29/02
07/20/01
08/07/00
07/16/99
08/07/98
07/17/97
07/26/96
08/04/95
08/04/94

19575.00
5425.00
2262.50
2750.00
4550.00
1812.50
1400.00
1787.50
925.00
212.50
3787.50
1475.00
3962.50
1537.50
1812.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/14/06
07/15/05
07/14/04

-150.00
-387.50
-1250.00

07/22/02
07/17/01
07/21/00
08/04/99
07/17/98
07/31/97

-1150.00
-50.00
-250.00
-3462.50
-275.00
-550.00

07/17/95

-1425.00

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

37

Soybeans Strategy Tables

Sell on approximately 07/13 - Exit on approximately 08/08

Buy "Red" Nov Soybeans(CBOT) / Sell Nov Soybeans(CBOT)


Enter on approximately 07/17 - Exit on approximately 08/11
CONT
YEAR

ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

07/17/08
07/17/07
07/17/06
07/18/05
07/19/04
07/17/03
07/17/02
07/17/01
07/17/00
07/19/99
07/17/98
07/17/97
07/17/96
07/17/95
07/18/94

Percentage Correct

ENTRY
PRICE
-66.00
24.50
46.75
-87.75
-37.75
4.50
-29.50
-20.25
44.50
44.50
20.00
10.25
-72.00
-31.25
16.25
93

EXIT
DATE
08/11/08
08/10/07
08/11/06
08/11/05
08/11/04
08/11/03
08/09/02
08/10/01
08/11/00
08/11/99
08/11/98
08/11/97
08/09/96
08/11/95
08/11/94

EXIT
PRICE
12.00
27.75
57.00
-25.50
27.00
5.50
-26.75
-12.00
48.00
31.50
49.25
10.75
-60.00
17.25
33.25

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

78.00
3.25
10.25
62.25
64.75
1.00
2.75
8.25
3.50
-13.00
29.25
0.50
12.00
48.50
17.00

3900.00
162.50
512.50
3112.50
3237.50
50.00
137.50
412.50
175.00
-650.00
1462.50
25.00
600.00
2425.00
850.00

24.38
-13.00
21.88

1218.75
-650.00
1094.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/08/08
07/23/07
08/10/06
08/11/05
08/10/04
07/31/03
07/29/02
07/20/01
08/04/00
07/20/99
08/10/98
07/23/97
07/26/96
08/11/95
08/11/94

4725.00
1112.50
550.00
3112.50
3262.50
675.00
1025.00
1100.00
300.00
12.50
1575.00
787.50
1700.00
2425.00
850.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

08/08/07
07/18/06

-212.50
-12.50

07/20/04

-12.50

07/22/02

-400.00

07/21/00
08/04/99

-100.00
-737.50

07/31/97

-1612.50

14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)March
Contract Size: 5,000 bushels

Soybeans Strategy Tables

Buy on approximately 08/20 - Exit on approximately 09/01


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

08/20/08
08/20/07
08/21/06
08/22/05
08/20/04
08/20/03
08/20/02
08/20/01
08/21/00
08/20/99
08/20/98
08/20/97
08/20/96
08/21/95
08/22/94

Percentage Correct

BUY
PRICE
1330.50
852.75
584.25
629.25
597.50
577.25
536.75
496.00
492.25
490.25
556.25
623.25
788.25
632.25
584.50
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
08/29/08
08/31/07
09/01/06
09/01/05
09/01/04
08/29/03
08/30/02
08/31/01
09/01/00
09/01/99
09/01/98
08/29/97
08/30/96
09/01/95
09/01/94

EXIT
PRICE
1353.75
907.50
576.25
622.75
649.75
585.50
547.25
499.25
522.25
505.50
539.25
635.25
806.50
645.00
591.00

PROFIT

PROFIT
AMOUNT

23.25
54.75
-8.00
-6.50
52.25
8.25
10.50
3.25
30.00
15.25
-17.00
12.00
18.25
12.75
6.50

1162.50
2737.50
-400.00
-325.00
2612.50
412.50
525.00
162.50
1500.00
762.50
-850.00
600.00
912.50
637.50
325.00

20.58
-10.50
14.37

1029.17
-525.00
718.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/21/08
08/30/07
08/23/06
08/23/05
09/01/04
08/29/03
08/30/02
08/21/01
08/31/00
09/01/99

2425.00
2875.00
250.00
87.50
2612.50
412.50
525.00
325.00
1575.00
762.50

08/27/97
08/27/96
09/01/95
08/24/94

662.50
912.50
637.50
475.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

08/28/06
08/25/05

-450.00
-925.00

08/26/03

-75.00

08/24/01
08/22/00
08/26/99
08/31/98

-375.00
-225.00
-275.00
-1225.00

08/24/95

-412.50

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

38

HISTORICAL SOYBEAN COMPLEX REPORT

Soybeans(CBOT)November
Contract Size: 5,000 bushels

Sell on approximately 09/02 - Exit on approximately 10/02


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

09/02/08
09/04/07
09/05/06
09/02/05
09/02/04
09/02/03
09/03/02
09/04/01
09/05/00
09/02/99
09/02/98
09/02/97
09/03/96
09/05/95
09/02/94

Percentage Correct

SELL
PRICE
1298.50
907.50
554.25
599.00
628.75
574.50
549.50
484.25
512.75
495.50
521.00
633.75
795.50
624.25
575.50
80

EXIT
DATE
10/02/08
10/02/07
10/02/06
09/30/05
10/01/04
10/02/03
10/02/02
10/02/01
10/02/00
10/01/99
10/02/98
10/02/97
10/02/96
10/02/95
09/30/94

EXIT
PRICE
1004.00
943.75
545.25
573.25
534.50
697.00
537.50
453.00
489.50
481.00
515.75
627.50
742.00
637.25
536.00

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

294.50
-36.25
9.00
25.75
94.25
-122.50
12.00
31.25
23.25
14.50
5.25
6.25
53.50
-13.00
39.50

14725.00
-1812.50
450.00
1287.50
4712.50
-6125.00
600.00
1562.50
1162.50
725.00
262.50
312.50
2675.00
-650.00
1975.00

50.75
-57.25
29.15

2537.50
-2862.50
1457.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/02/08
09/06/07
09/12/06
09/27/05
09/24/04

14725.00
750.00
787.50
2075.00
5262.50

10/02/02
09/28/01
09/15/00
09/23/99
10/01/98
10/01/97
10/02/96
09/13/95
09/30/94

600.00
1650.00
1475.00
875.00
287.50
662.50
2675.00
87.50
1975.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

09/27/07
09/21/06
09/06/05

-5075.00
-187.50
-762.50

10/02/03
09/11/02

-6125.00
-1962.50

09/07/99
09/15/98
09/16/97
09/12/96
09/21/95
09/06/94

-1250.00
-662.50
-650.00
-950.00
-1975.00
-362.50
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)November
Contract Size: 5,000 bushels

CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

09/22/08
09/21/07
09/21/06
09/21/05
09/21/04
09/22/03
09/23/02
09/21/01
09/21/00
09/21/99
09/21/98
09/22/97
09/23/96
09/21/95
09/21/94

Percentage Correct

SELL
PRICE
1205.00
979.00
558.00
577.75
542.25
651.25
553.25
469.75
491.75
485.00
524.00
635.50
798.75
663.75
556.00
93

EXIT
DATE
10/02/08
10/02/07
10/02/06
09/30/05
10/01/04
10/02/03
10/02/02
10/02/01
10/02/00
10/01/99
10/02/98
10/02/97
10/02/96
10/02/95
09/30/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1004.00
943.75
545.25
573.25
534.50
697.00
537.50
453.00
489.50
481.00
515.75
627.50
742.00
637.25
536.00

PROFIT

PROFIT
AMOUNT

201.00
35.25
12.75
4.50
7.75
-45.75
15.75
16.75
2.25
4.00
8.25
8.00
56.75
26.50
20.00

10050.00
1762.50
637.50
225.00
387.50
-2287.50
787.50
837.50
112.50
200.00
412.50
400.00
2837.50
1325.00
1000.00

29.96
-45.75
24.92

1498.21
-2287.50
1245.83

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/02/08
10/02/07
09/27/06
09/27/05
09/24/04
09/23/03
10/02/02
09/28/01
10/02/00
09/23/99
10/01/98
10/01/97
10/02/96
10/02/95
09/30/94

10050.00
1762.50
775.00
1012.50
937.50
12.50
787.50
925.00
112.50
350.00
437.50
750.00
2837.50
1325.00
1000.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

09/27/07

-1500.00

09/22/05

-137.50

10/02/03
09/26/02

-2287.50
-612.50

09/28/00
09/29/99
09/28/98
09/24/97

-325.00
-337.50
-412.50
-137.50

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

39

Soybeans Strategy Tables

Sell on approximately 09/21 - Exit on approximately 10/02

Buy "Red" Nov Soybeans(CBOT) / Sell Nov Soybeans(CBOT)


Enter on approximately 09/12 - Exit on approximately 10/03
CONT
YEAR

ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

09/12/08
09/12/07
09/12/06
09/12/05
09/13/04
09/12/03
09/12/02
09/13/01
09/12/00
09/13/99
09/14/98
09/12/97
09/12/96
09/12/95
09/12/94

Percentage Correct

ENTRY
PRICE
-15.00
-14.00
60.75
20.75
10.50
-83.00
-45.75
4.50
31.00
30.25
48.50
-1.75
-66.00
14.75
31.75
87

EXIT
DATE
10/03/08
10/03/07
10/03/06
10/03/05
10/01/04
10/03/03
10/03/02
10/03/01
10/03/00
10/01/99
10/02/98
10/03/97
10/03/96
10/03/95
10/03/94

EXIT
PRICE
37.50
-1.50
62.50
30.00
28.50
-107.25
-29.75
19.00
38.25
35.00
52.25
4.00
-29.25
10.25
49.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

52.50
12.50
1.75
9.25
18.00
-24.25
16.00
14.50
7.25
4.75
3.75
5.75
36.75
-4.50
17.75

2625.00
625.00
87.50
462.50
900.00
-1212.50
800.00
725.00
362.50
237.50
187.50
287.50
1837.50
-225.00
887.50

15.42
-14.38
11.45

771.15
-718.75
572.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/02/08
10/02/07
09/29/06
09/27/05
09/30/04
09/16/03
10/03/02
09/28/01
09/18/00
09/15/99
09/17/98
09/30/97
10/02/96
09/13/95
10/03/94

2800.00
787.50
87.50
562.50
1075.00
625.00
800.00
875.00
475.00
325.00
325.00
612.50
1875.00
262.50
887.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

09/18/08
09/18/07
09/21/06

-650.00
-1362.50
-150.00

09/29/03
09/26/02
09/17/01

-1837.50
-75.00
-37.50

09/24/98
09/17/97

-125.00
-137.50

09/21/95

-800.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Mar Soybeans(CBOT) / Sell Sep Soybeans(CBOT)

Soybeans Strategy Tables

Enter on approximately 10/04 - Exit on approximately 12/19


CONT
YEAR

ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

10/06/08
10/04/07
10/04/06
10/04/05
10/04/04
10/06/03
10/04/02
10/04/01
10/04/00
10/04/99
10/05/98
10/06/97
10/04/96
10/04/95
10/04/94

Percentage Correct

ENTRY
PRICE
-17.50
22.25
-28.00
-10.75
-11.00
73.25
19.50
-6.75
-16.25
-13.50
-20.00
4.50
23.50
5.00
-21.50
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
12/19/08
12/19/07
12/19/06
12/19/05
12/17/04
12/19/03
12/19/02
12/19/01
12/19/00
12/17/99
12/18/98
12/19/97
12/19/96
12/19/95
12/19/94

EXIT
PRICE
-26.00
58.75
-32.25
-9.00
-9.00
94.00
34.25
-8.00
-5.50
-11.50
-13.25
8.00
25.00
32.25
-18.25

PROFIT

PROFIT
AMOUNT

-8.50
36.50
-4.25
1.75
2.00
20.75
14.75
-1.25
10.75
2.00
6.75
3.50
1.50
27.25
3.25

-425.00
1825.00
-212.50
87.50
100.00
1037.50
737.50
-62.50
537.50
100.00
337.50
175.00
75.00
1362.50
162.50

10.90
-4.67
7.78

544.79
-233.33
389.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

11/21/08
12/17/07
11/08/06
10/12/05
10/11/04
10/29/03
11/06/02
10/05/01
12/12/00
11/10/99
11/12/98
11/11/97
10/08/96
12/19/95
11/15/94

275.00
2587.50
837.50
362.50
137.50
3112.50
1300.00
162.50
587.50
225.00
575.00
1137.50
187.50
1362.50
437.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/18/08
10/05/07
12/18/06
12/15/05
11/24/04
10/08/03
10/09/02
10/19/01
10/30/00
10/26/99

-500.00
-300.00
-225.00
-437.50
-525.00
-125.00
-162.50
-225.00
-312.50
-50.00

12/18/97
10/31/96
10/05/95
10/05/94

-12.50
-900.00
-75.00
-100.00
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

40

HISTORICAL SOYBEAN COMPLEX REPORT

Soybeans(CBOT)January
Contract Size: 5,000 bushels

Buy on approximately 10/06 - Exit on approximately 12/26


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

10/06/08
10/08/07
10/06/06
10/06/05
10/06/04
10/06/03
10/07/02
10/08/01
10/06/00
10/06/99
10/06/98
10/06/97
10/07/96
10/06/95
10/06/94

Percentage Correct

BUY
PRICE
938.50
942.00
577.75
576.50
534.00
685.75
544.75
461.50
495.75
499.25
532.75
649.25
742.25
650.75
541.50
80

EXIT
DATE
12/26/08
12/26/07
12/26/06
12/23/05
12/23/04
12/26/03
12/26/02
12/26/01
12/26/00
12/23/99
12/24/98
12/26/97
12/26/96
12/26/95
12/23/94

EXIT
PRICE
951.75
1220.75
671.50
613.00
550.50
792.00
565.75
428.25
505.25
467.00
548.00
689.25
701.75
730.50
567.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

13.25
278.75
93.75
36.50
16.50
106.25
21.00
-33.25
9.50
-32.25
15.25
40.00
-40.50
79.75
26.00

662.50
13937.50
4687.50
1825.00
825.00
5312.50
1050.00
-1662.50
475.00
-1612.50
762.50
2000.00
-2025.00
3987.50
1300.00

61.38
-35.33
42.03

3068.75
-1766.67
2101.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/09/08
12/26/07
11/27/06
12/23/05
11/23/04
10/29/03
11/29/02

2850.00
13937.50
5512.50
1825.00
1362.50
5887.50
1700.00

12/19/00
10/12/99
11/30/98
11/07/97
10/09/96
12/19/95
11/28/94

800.00
550.00
3037.50
4512.50
162.50
4500.00
1600.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/05/08

-7750.00

10/10/06
11/29/05
11/05/04
10/08/03
10/09/02
10/22/01
10/27/00
12/13/99

-125.00
-1125.00
-1437.50
-187.50
-787.50
-1737.50
-1462.50
-2412.50

11/01/96

-3787.50

10/07/94

-200.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy May Soybeans(CBOT) / Sell Sep Soybeans(CBOT)


Enter on approximately 10/16 - Exit on approximately 12/14
ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

10/16/08
10/16/07
10/16/06
10/17/05
10/18/04
10/16/03
10/16/02
10/16/01
10/16/00
10/18/99
10/16/98
10/16/97
10/16/96
10/16/95
10/17/94

Percentage Correct

ENTRY
PRICE
-10.25
27.00
-18.50
-0.50
-11.75
56.50
23.50
-5.75
-11.00
-6.75
-7.75
17.50
17.25
12.25
-11.25
87

EXIT
DATE
12/12/08
12/14/07
12/14/06
12/14/05
12/14/04
12/12/03
12/13/02
12/14/01
12/14/00
12/14/99
12/14/98
12/12/97
12/13/96
12/14/95
12/14/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-10.25
86.75
-18.00
-8.75
-9.00
91.00
30.00
-5.00
-1.25
-5.75
-6.25
18.75
19.75
26.75
-8.25

PROFIT

PROFIT
AMOUNT

0.00
59.75
0.50
-8.25
2.75
34.50
6.50
0.75
9.75
1.00
1.50
1.25
2.50
14.50
3.00

0.00
2987.50
25.00
-412.50
137.50
1725.00
325.00
37.50
487.50
50.00
75.00
62.50
125.00
725.00
150.00

10.63
-4.13
8.67

531.73
-206.25
433.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

11/21/08
12/14/07
11/08/06

337.50
2987.50
625.00

10/19/04
11/17/03
11/06/02
11/09/01
12/12/00
11/30/99
11/12/98
11/11/97
10/23/96
12/14/95
11/23/94

450.00
2150.00
712.50
250.00
587.50
162.50
350.00
687.50
412.50
725.00
287.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

11/05/08

-150.00

12/01/06
11/29/05
11/24/04

-25.00
-437.50
-125.00

10/18/02
10/19/01
10/30/00
10/26/99
11/24/98
10/20/97
10/31/96

-62.50
-75.00
-162.50
-37.50
-12.50
-300.00
-362.50

11/03/94

-75.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

41

Soybeans Strategy Tables

CONT
YEAR

Soybeans(CBOT)January
Contract Size: 5,000 bushels

Buy on approximately 10/21 - Exit on approximately 11/17


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

10/21/08
10/22/07
10/23/06
10/21/05
10/21/04
10/21/03
10/21/02
10/22/01
10/23/00
10/21/99
10/21/98
10/21/97
10/21/96
10/23/95
10/21/94

Percentage Correct

BUY
PRICE
915.25
993.75
630.50
584.50
531.00
730.75
553.50
426.75
473.50
491.00
560.75
700.25
684.50
678.25
560.00
80

EXIT
DATE
11/17/08
11/16/07
11/17/06
11/17/05
11/17/04
11/17/03
11/15/02
11/16/01
11/17/00
11/17/99
11/17/98
11/17/97
11/15/96
11/17/95
11/17/94

EXIT
PRICE
906.50
1077.75
660.50
579.25
553.00
780.00
563.25
452.50
487.75
466.25
582.00
726.25
696.75
687.00
569.75

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

-8.75
84.00
30.00
-5.25
22.00
49.25
9.75
25.75
14.25
-24.75
21.25
26.00
12.25
8.75
9.75

-437.50
4200.00
1500.00
-262.50
1100.00
2462.50
487.50
1287.50
712.50
-1237.50
1062.50
1300.00
612.50
437.50
487.50

26.08
-12.92
18.28

1304.17
-645.83
914.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

11/04/08
11/14/07
11/08/06
11/03/05
11/17/04
10/29/03
11/06/02
11/16/01
11/17/00

2187.50
4287.50
2375.00
862.50
1100.00
3637.50
1075.00
1287.50
712.50

11/12/98
11/07/97
10/28/96
11/06/95
11/09/94

1362.50
1962.50
950.00
712.50
600.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

10/22/08

-2525.00

10/31/05
11/05/04

-425.00
-1287.50

10/28/02

-362.50

10/27/00
11/12/99
10/26/98
10/30/97
11/01/96
10/27/95
10/31/94

-350.00
-1412.50
-100.00
-387.50
-900.00
-275.00
-300.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)January
Contract Size: 5,000 bushels

Soybeans Strategy Tables

Buy on approximately 10/30 - Exit on approximately 11/17


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

10/30/08
10/30/07
10/30/06
10/31/05
11/01/04
10/30/03
10/30/02
10/30/01
10/30/00
11/01/99
10/30/98
10/30/97
10/30/96
10/30/95
10/31/94

Percentage Correct

BUY
PRICE
943.00
1009.25
653.25
576.00
521.50
799.00
558.25
440.25
466.75
477.50
568.25
692.50
690.75
678.50
554.00
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
11/17/08
11/16/07
11/17/06
11/17/05
11/17/04
11/17/03
11/15/02
11/16/01
11/17/00
11/17/99
11/17/98
11/17/97
11/15/96
11/17/95
11/17/94

EXIT
PRICE
906.50
1077.75
660.50
579.25
553.00
780.00
563.25
452.50
487.75
466.25
582.00
726.25
696.75
687.00
569.75

PROFIT

PROFIT
AMOUNT

-36.50
68.50
7.25
3.25
31.50
-19.00
5.00
12.25
21.00
-11.25
13.75
33.75
6.00
8.50
15.75

-1825.00
3425.00
362.50
162.50
1575.00
-950.00
250.00
612.50
1050.00
-562.50
687.50
1687.50
300.00
425.00
787.50

18.88
-22.25
10.65

943.75
-1112.50
532.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

11/04/08
11/14/07
11/08/06
11/03/05
11/17/04

800.00
3512.50
1237.50
1287.50
1575.00

11/06/02
11/16/01
11/17/00
11/04/99
11/12/98
11/07/97
11/15/96
11/06/95
11/09/94

837.50
612.50
1050.00
412.50
987.50
2350.00
300.00
700.00
900.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

11/13/08
11/01/07
10/31/06

-2450.00
-137.50
-450.00

11/05/04
11/07/03

-812.50
-2525.00

11/06/01

-212.50

11/12/99
11/03/98

-737.50
-412.50

11/01/96
11/15/95

-1212.50
-187.50

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

42

HISTORICAL SOYBEAN COMPLEX REPORT

Soybeans(CBOT)July
Contract Size: 5,000 bushels

Buy on approximately 11/12 - Exit on approximately 12/26


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

11/12/08
11/12/07
11/13/06
11/14/05
11/12/04
11/12/03
11/12/02
11/12/01
11/13/00
11/12/99
11/12/98
11/12/97
11/12/96
11/13/95
11/14/94

Percentage Correct

BUY
PRICE
923.00
1066.50
687.00
611.75
541.75
713.25
547.75
461.00
498.25
481.50
611.75
738.50
689.50
692.25
586.75
80

EXIT
DATE
12/26/08
12/26/07
12/26/06
12/23/05
12/23/04
12/26/03
12/26/02
12/26/01
12/26/00
12/23/99
12/24/98
12/26/97
12/26/96
12/26/95
12/23/94

EXIT
PRICE
978.75
1263.75
711.00
640.75
560.00
778.00
552.00
436.25
525.50
487.50
563.75
699.75
691.50
747.00
592.25

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

55.75
197.25
24.00
29.00
18.25
64.75
4.25
-24.75
27.25
6.00
-48.00
-38.75
2.00
54.75
5.50

2787.50
9862.50
1200.00
1450.00
912.50
3237.50
212.50
-1237.50
1362.50
300.00
-2400.00
-1937.50
100.00
2737.50
275.00

40.73
-37.17
25.15

2036.46
-1858.33
1257.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

12/26/08
12/26/07
11/27/06
12/22/05
11/23/04
12/26/03
12/02/02
11/23/01
12/19/00
12/07/99
11/30/98
11/13/97
11/22/96
12/19/95
11/28/94

2787.50
9862.50
1575.00
1450.00
1775.00
3237.50
612.50
125.00
1775.00
887.50
275.00
125.00
1087.50
3062.50
437.50

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/05/08

-5900.00

11/16/06
11/29/05
12/09/04
11/24/03
11/15/02
12/26/01

-50.00
-1937.50
-250.00
-337.50
-187.50
-1237.50

12/16/99
12/23/98
12/23/97
12/10/96
11/15/95
12/01/94

-625.00
-2550.00
-2437.50
-550.00
-175.00
-450.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybeans(CBOT)January
Contract Size: 5,000 bushels

CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

12/18/08
12/18/07
12/18/06
12/19/05
12/20/04
12/18/03
12/18/02
12/18/01
12/18/00
12/20/99
12/18/98
12/18/97
12/18/96
12/18/95
12/19/94

Percentage Correct

BUY
PRICE
869.50
1149.75
648.00
608.50
550.00
759.50
560.25
432.00
509.75
458.50
547.25
677.50
704.00
733.75
559.50
93

EXIT
DATE
12/24/08
12/24/07
12/22/06
12/23/05
12/23/04
12/24/03
12/23/02
12/21/01
12/22/00
12/23/99
12/24/98
12/24/97
12/24/96
12/22/95
12/23/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
915.75
1181.00
659.50
613.00
550.50
759.75
572.75
435.50
510.25
467.00
548.00
686.75
707.00
729.75
567.50

PROFIT

PROFIT
AMOUNT

46.25
31.25
11.50
4.50
0.50
0.25
12.50
3.50
0.50
8.50
0.75
9.25
3.00
-4.00
8.00

2312.50
1562.50
575.00
225.00
25.00
12.50
625.00
175.00
25.00
425.00
37.50
462.50
150.00
-200.00
400.00

10.02
-4.00
9.08

500.89
-200.00
454.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

12/24/08
12/24/07
12/22/06
12/23/05
12/23/04
12/19/03
12/23/02
12/20/01
12/19/00
12/22/99
12/21/98
12/24/97
12/19/96
12/19/95
12/23/94

2312.50
1562.50
575.00
225.00
25.00
262.50
625.00
175.00
100.00
425.00
100.00
462.50
187.50
350.00
400.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/19/08

-62.50

12/20/05
12/22/04
12/23/03

-162.50
-187.50
-912.50

12/20/00
12/21/99
12/23/98

-87.50
-87.50
-187.50

12/23/96
12/21/95

-200.00
-775.00

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

43

Soybeans Strategy Tables

Buy on approximately 12/18 - Exit on approximately 12/24

Buy Nov Soybeans(CBOT) / Sell Mar Soybeans(CBOT)


Enter on approximately 12/26 - Exit on approximately 02/03
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

12/26/07
12/26/06
12/27/05
12/27/04
12/26/03
12/26/02
12/26/01
12/26/00
12/27/99
12/28/98
12/26/97
12/26/96
12/26/95
12/27/94
12/27/93

Percentage Correct

ENTRY
PRICE
-113.00
43.50
12.00
19.75
-163.00
-51.75
11.75
11.25
21.50
17.75
-16.00
-37.75
-39.75
24.00
-61.00
93

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
02/01/08
02/02/07
02/03/06
02/03/05
02/03/04
02/03/03
02/01/02
02/02/01
02/03/00
02/03/99
02/03/98
02/03/97
02/02/96
02/03/95
02/03/94

EXIT
PRICE
-33.25
53.00
35.75
21.75
-157.75
-43.00
13.00
15.50
25.75
18.75
-13.25
-57.00
-24.50
28.00
-40.25

PROFIT

PROFIT
AMOUNT

79.75
9.50
23.75
2.00
5.25
8.75
1.25
4.25
4.25
1.00
2.75
-19.25
15.25
4.00
20.75

3987.50
475.00
1187.50
100.00
262.50
437.50
62.50
212.50
212.50
50.00
137.50
-962.50
762.50
200.00
1037.50

13.04
-19.25
10.88

651.79
-962.50
544.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/17/08
01/29/07
02/01/06
01/03/05
01/09/04
01/21/03
01/22/02
02/01/01
01/20/00
01/11/99
01/06/98
01/06/97
02/02/96
01/05/95
01/25/94

5600.00
500.00
1262.50
175.00
725.00
800.00
162.50
350.00
337.50
50.00
425.00
412.50
762.50
325.00
1087.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/29/06

-37.50

01/20/05
01/22/04
01/02/03
01/14/02
12/28/00
01/04/00
01/13/99
01/22/98
01/17/97
01/02/96

-262.50
-575.00
-387.50
-75.00
-250.00
-25.00
-250.00
-175.00
-1125.00
-637.50

12/30/93

-75.00
14
1
15

Soybeans Strategy Tables

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

44

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Meal (SM)

Page
SEASONAL PATTERNS & WEEKLY CONTINUATIONS
Jan (F), Mar (H), May (K), Jul (N)................................................................................... 46
Aug (Q), Sep (U), Oct (V), Dec (Z) ................................................................................... 48
Jan vs: Mar, May, Jul, Oct ................................................................................................ 50
Mar vs: May, Jul, Aug, Oct ............................................................................................... 52
May vs: Jul, Aug, Sep, Oct ................................................................................................ 54
Jul vs: Aug, Sep, Oct, Dec................................................................................................. 56
Aug vs: Sep, Oct, Dec, Jan ................................................................................................ 58
Sep vs: Oct, Dec, Jan, May ................................................................................................ 60
Oct vs: Dec, Jan, Mar, May ............................................................................................... 62
Dec vs: Jan, Mar, May, Jul ................................................................................................ 64

STRATEGIES

Soybean Meal

Seasonal Trade & Spread Strategy Summary ................................................................. 66


Seasonal Strategy Detail Tables ......................................................................................... 67

MOORE RESEARCH CENTER, INC.

45

Jan Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Mar Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

May Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

Soybean Meal Seasonal Patterns

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jul Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

46

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Mar Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

Weekly May Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

Soybean Meal Weeklies

Weekly Jul Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

MOORE RESEARCH CENTER, INC.

2000

2001

2002

2003

2004

47

Aug Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

Soybean Meal Seasonal Patterns

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Dec Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

48

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Sep Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

Weekly Oct Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

Soybean Meal Weeklies

Weekly Dec Soybean Meal(CBOT)


500.00

400.00

300.00

200.00

100.00
1998

1999

MOORE RESEARCH CENTER, INC.

2000

2001

2002

2003

2004

49

Jan Soybean Meal(CBOT) - Mar Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybean Meal(CBOT) - May Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybean Meal(CBOT) - Jul Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

Soybean Meal Spread Patterns: January

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybean Meal(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

50

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybean Meal(CBOT) - Mar Soybean Meal(CBOT)


12.0
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Jan Soybean Meal(CBOT) - May Soybean Meal(CBOT)


25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
-20.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Jan Soybean Meal(CBOT) - Jul Soybean Meal(CBOT)


40.0

Soybean Meal Spread Weeklies: January

30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Jan Soybean Meal(CBOT) - Oct Soybean Meal(CBOT)


80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

51

Mar Soybean Meal(CBOT) - May Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybean Meal(CBOT) - Jul Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybean Meal(CBOT) - Aug Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

Soybean Meal Spread Patterns: March

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybean Meal(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

52

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Mar Soybean Meal(CBOT) - May Soybean Meal(CBOT)


20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Mar Soybean Meal(CBOT) - Jul Soybean Meal(CBOT)


25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Mar Soybean Meal(CBOT) - Aug Soybean Meal(CBOT)


35.0
30.0
25.0

Soybean Meal Spread Weeklies: March

20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Mar Soybean Meal(CBOT) - Oct Soybean Meal(CBOT)


80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

53

May Soybean Meal(CBOT) - Jul Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybean Meal(CBOT) - Aug Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybean Meal(CBOT) - Sep Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Meal Spread Patterns: May

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybean Meal(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

54

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly May Soybean Meal(CBOT) - Jul Soybean Meal(CBOT)


10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly May Soybean Meal(CBOT) - Aug Soybean Meal(CBOT)


30.0
25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly May Soybean Meal(CBOT) - Sep Soybean Meal(CBOT)


60.0
50.0
40.0

Soybean Meal Spread Weeklies: May

30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly May Soybean Meal(CBOT) - Oct Soybean Meal(CBOT)


100.0
80.0
60.0
40.0
20.0
0.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

55

Jul Soybean Meal(CBOT) - Aug Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybean Meal(CBOT) - Sep Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybean Meal(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Meal Spread Patterns: July

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybean Meal(CBOT) - Dec Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

56

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jul Soybean Meal(CBOT) - Aug Soybean Meal(CBOT)


50.0
40.0
30.0
20.0
10.0
0.0
-10.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Jul Soybean Meal(CBOT) - Sep Soybean Meal(CBOT)


100.0
80.0
60.0
40.0
20.0
0.0
-20.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Jul Soybean Meal(CBOT) - Oct Soybean Meal(CBOT)


140.0
120.0
100.0
80.0

Soybean Meal Spread Weeklies: July

60.0
40.0
20.0
0.0
-20.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Jul Soybean Meal(CBOT) - Dec Soybean Meal(CBOT)


140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

57

Aug Soybean Meal(CBOT) - Sep Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybean Meal(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybean Meal(CBOT) - Dec Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

Soybean Meal Spread Patterns: August

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybean Meal(CBOT) - Jan Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

58

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybean Meal(CBOT) - Sep Soybean Meal(CBOT)


45.0
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0
-5.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Aug Soybean Meal(CBOT) - Oct Soybean Meal(CBOT)


90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Aug Soybean Meal(CBOT) - Dec Soybean Meal(CBOT)


90.0
80.0
70.0

Soybean Meal Spread Weeklies: August

60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Aug Soybean Meal(CBOT) - Jan Soybean Meal(CBOT)


100.0
80.0
60.0
40.0
20.0
0.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

59

Sep Soybean Meal(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybean Meal(CBOT) - Dec Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybean Meal(CBOT) - Jan Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)

Soybean Meal Spread Patterns: September

100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybean Meal(CBOT) - May Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

60

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Sep Soybean Meal(CBOT) - Oct Soybean Meal(CBOT)


45.0
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0
-5.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Sep Soybean Meal(CBOT) - Dec Soybean Meal(CBOT)


60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Sep Soybean Meal(CBOT) - Jan Soybean Meal(CBOT)


60.0

Soybean Meal Spread Weeklies: September

50.0
40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Sep Soybean Meal(CBOT) - May Soybean Meal(CBOT)


70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

61

Oct Soybean Meal(CBOT) - Dec Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Oct Soybean Meal(CBOT) - Jan Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Oct Soybean Meal(CBOT) - Mar Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

Soybean Meal Spread Patterns: October

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Oct Soybean Meal(CBOT) - May Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

62

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Oct Soybean Meal(CBOT) - Dec Soybean Meal(CBOT)


12.0
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Oct Soybean Meal(CBOT) - Jan Soybean Meal(CBOT)


15.0

10.0

5.0

0.0

-5.0

-10.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Oct Soybean Meal(CBOT) - Mar Soybean Meal(CBOT)


20.0
15.0

Soybean Meal Spread Weeklies: October

10.0
5.0
0.0
-5.0
-10.0
-15.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Oct Soybean Meal(CBOT) - May Soybean Meal(CBOT)


25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

63

Dec Soybean Meal(CBOT) - Jan Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Dec Soybean Meal(CBOT) - Mar Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Dec Soybean Meal(CBOT) - May Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)

Soybean Meal Spread Patterns: December

100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Dec Soybean Meal(CBOT) - Jul Soybean Meal(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

64

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Dec Soybean Meal(CBOT) - Jan Soybean Meal(CBOT)


6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Dec Soybean Meal(CBOT) - Mar Soybean Meal(CBOT)


15.0

10.0

5.0

0.0

-5.0

-10.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Dec Soybean Meal(CBOT) - May Soybean Meal(CBOT)


30.0

Soybean Meal Spread Weeklies: December

25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Dec Soybean Meal(CBOT) - Jul Soybean Meal(CBOT)


40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

65

Seasonal Soymeal & Spread Strategies

Soybean Meal Strategy Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

Buy Soybean Meal(CBOT)September

2/01

2/19

87

13

15

550

29/19

67

Buy Aug Soybean Meal(CBOT)


Sell Oct Soybean Meal(CBOT)

2/22

3/29

100

15

15

471

13/37

67

Buy Jul Soybean Meal(CBOT)


Sell Dec Soybean Meal(CBOT)

2/22

4/30

87

13

15

757

11/69

68

Buy Soybean Meal(CBOT)July

3/07

6/19

93

14

15

1353

13/105

68

Buy May Soybean Meal(CBOT)


Sell Oct Soybean Meal(CBOT)

3/19

3/29

100

15

15

360

33/11

69

Sell Soybean Meal(CBOT)December

4/05

4/16

87

13

15

306

26/12

69

Buy Soybean Meal(CBOT)July

4/20

6/23

93

14

15

1091

17/65

70

Buy Soybean Meal(CBOT)December

4/28

5/18

87

13

15

777

37/21

70

Buy Aug Soybean Meal(CBOT)


Sell Mar Soybean Meal(CBOT)

5/23

7/10

87

13

15

553

11/49

71

10 Buy Soybean Meal(CBOT)July

6/04

6/19

80

12

15

903

56/16

71

11 Sell Soybean Meal(CBOT)December

6/29

7/21

87

13

15

789

34/23

72

12 Buy Soybean Meal(CBOT)August

7/06

7/13

87

13

15

483

60/8

72

13 Sell Soybean Meal(CBOT)September

7/13

8/08

93

14

15

1843

68/27

73

14 Buy Mar Soybean Meal(CBOT)


Sell Aug Soybean Meal(CBOT)

7/15

7/30

87

13

15

632

40/16

73

15 Buy Soybean Meal(CBOT)March

8/20

9/01

80

12

15

432

33/13

74

16 Sell Soybean Meal(CBOT)December

9/16

10/06

87

13

15

874

42/21

74

17 Sell Soybean Meal(CBOT)May

9/21

10/02

93

14

15

669

56/12

75

18 Buy Soybean Meal(CBOT)December

10/05

11/16

80

12

15

1067

25/43

75

19 Buy Dec Soybean Meal(CBOT)


Sell Jul Soybean Meal(CBOT)

10/07

11/06

93

14

15

452

15/31

76

20 Buy Soybean Meal(CBOT)December

10/22

11/17

87

13

15

589

22/27

76

21 Buy Soybean Meal(CBOT)July

11/09

1/17

80

12

15

902

13/70

77

22 Buy Soybean Meal(CBOT)January

12/18

12/26

93

14

15

600

67/9

77

* Caution: Trade exit is during delivery period. Longs may be subject to delivery.

Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


66

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Meal(CBOT)September
Contract Size: 100 tons

Buy on approximately 02/01 - Exit on approximately 02/19


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/01/08
02/01/07
02/01/06
02/01/05
02/02/04
02/03/03
02/01/02
02/01/01
02/01/00
02/01/99
02/02/98
02/03/97
02/01/96
02/01/95
02/01/94

Percentage Correct

BUY
PRICE

EXIT
DATE

344.00
220.40
189.30
157.50
220.70
161.00
145.60
161.70
167.50
135.00
197.80
221.00
233.50
165.10
191.10
87

02/19/08
02/16/07
02/17/06
02/18/05
02/19/04
02/19/03
02/19/02
02/16/01
02/18/00
02/19/99
02/19/98
02/19/97
02/16/96
02/17/95
02/18/94

EXIT
PRICE
364.00
239.30
190.10
174.00
233.50
163.90
147.30
157.10
174.10
135.20
188.30
233.80
233.70
166.10
193.30

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

20.00
18.90
0.80
16.50
12.80
2.90
1.70
-4.60
6.60
0.20
-9.50
12.80
0.20
1.00
2.20

2000.00
1890.00
80.00
1650.00
1280.00
290.00
170.00
-460.00
660.00
20.00
-950.00
1280.00
20.00
100.00
220.00

7.43
-7.05
5.50

743.08
-705.00
550.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/19/08
02/16/07
02/03/06
02/17/05
02/19/04
02/14/03
02/13/02
02/02/01
02/18/00
02/05/99
02/10/98
02/18/97
02/16/96
02/10/95
02/11/94

2000.00
1890.00
240.00
1700.00
1280.00
510.00
290.00
310.00
660.00
450.00
60.00
1400.00
20.00
140.00
370.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/07/06
02/04/05
02/12/04
02/07/03

-580.00
-250.00
-340.00
-190.00

02/16/01
02/03/00
02/16/99
02/17/98
02/06/97
02/12/96
02/03/95
02/02/94

-460.00
-220.00
-170.00
-1030.00
-60.00
-700.00
-20.00
-60.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Aug Soybean Meal(CBOT) / Sell Oct Soybean Meal(CBOT)


Enter on approximately 02/22 - Exit on approximately 03/29
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/22/08
02/22/07
02/22/06
02/22/05
02/23/04
02/24/03
02/22/02
02/22/01
02/22/00
02/22/99
02/23/98
02/24/97
02/22/96
02/22/95
02/22/94

ENTRY
PRICE

Percentage Correct

18.69
-3.20
-0.50
-1.19
48.00
10.70
1.50
2.09
0.00
-2.80
-2.59
19.50
4.69
-3.60
2.30
100

EXIT
DATE
03/28/08
03/29/07
03/29/06
03/29/05
03/29/04
03/28/03
03/28/02
03/29/01
03/29/00
03/29/99
03/27/98
03/27/97
03/29/96
03/29/95
03/29/94

Average Profit on Winning Trades

EXIT
PRICE
42.00
-2.50
-0.29
5.59
61.19
13.10
2.09
3.09
0.10
-2.29
-1.29
38.50
5.09
-3.39
3.29

PROFIT

PROFIT
AMOUNT

23.30
0.70
0.20
6.80
13.20
2.40
0.60
1.00
0.10
0.50
1.30
19.00
0.40
0.20
1.00

2330.00
70.00
20.00
680.00
1320.00
240.00
60.00
100.00
10.00
50.00
130.00
1900.00
40.00
20.00
100.00

4.71

471.33

Average Loss on Trades


Average Net Profit Per Trade

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/27/08
03/05/07
02/28/06
03/16/05
03/22/04
02/26/03
03/27/02
03/26/01
03/09/00
03/26/99
03/13/98
03/20/97
02/26/96
03/27/95
03/16/94

2480.00
120.00
30.00
790.00
1550.00
340.00
160.00
110.00
50.00
90.00
170.00
2080.00
180.00
60.00
180.00
Winners
Losers

4.71

471.33

Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/02/07
03/20/06

-30.00
-120.00

03/02/04
03/06/03
03/06/02
03/13/01
03/23/00
03/08/99
02/24/98

-500.00
-30.00
-30.00
-50.00
-100.00
-130.00
-50.00

03/20/96
02/27/95

-420.00
-30.00

15
0
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

67

Soybean Meal Strategy Tables

CONT
YEAR

Buy Jul Soybean Meal(CBOT) / Sell Dec Soybean Meal(CBOT)


Enter on approximately 02/22 - Exit on approximately 04/30
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/22/08
02/22/07
02/22/06
02/22/05
02/23/04
02/24/03
02/22/02
02/22/01
02/22/00
02/22/99
02/23/98
02/24/97
02/22/96
02/22/95
02/22/94

ENTRY
PRICE
24.60
-7.40
-3.70
-6.00
63.40
15.79
0.79
2.90
-2.69
-7.09
-7.59
27.30
4.69
-9.20
3.90
87

Percentage Correct

EXIT
DATE
04/30/08
04/30/07
04/28/06
04/29/05
04/30/04
04/30/03
04/30/02
04/30/01
04/28/00
04/30/99
04/30/98
04/30/97
04/30/96
04/28/95
04/29/94

EXIT
PRICE
40.69
-9.39
-5.10
1.00
85.09
29.80
8.09
6.29
-1.50
-7.09
-4.59
66.40
6.70
-9.09
5.90

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

16.10
-2.00
-1.40
7.00
21.70
14.00
7.30
3.40
1.20
0.00
3.00
39.10
2.00
0.10
2.00

1610.00
-200.00
-140.00
700.00
2170.00
1400.00
730.00
340.00
120.00
0.00
300.00
3910.00
200.00
10.00
200.00

8.99
-1.70
7.57

899.23
-170.00
756.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/28/08
03/31/07
03/29/06
03/30/05
04/02/04
04/30/03
04/24/02
04/20/01
04/27/00
04/13/99
04/17/98
04/02/97
04/26/96
04/03/95
04/25/94

3070.00
60.00
40.00
1220.00
2860.00
1400.00
930.00
520.00
160.00
130.00
410.00
4280.00
540.00
230.00
310.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/17/07
03/21/06

-310.00
-140.00

02/26/04

-590.00

02/25/02
03/14/01
03/31/00
03/05/99
03/31/98

-30.00
-90.00
-130.00
-190.00
-60.00

03/20/96
04/26/95
03/03/94

-520.00
-70.00
-40.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)July
Contract Size: 100 tons

Soybean Meal Strategy Tables

Buy on approximately 03/07 - Exit on approximately 06/19


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/07/08
03/07/07
03/07/06
03/07/05
03/08/04
03/07/03
03/07/02
03/07/01
03/07/00
03/08/99
03/09/98
03/07/97
03/07/96
03/07/95
03/07/94

Percentage Correct

BUY
PRICE
353.80
227.70
177.10
185.90
276.30
170.60
154.70
158.50
166.90
132.00
183.10
261.80
236.30
165.10
192.00
93

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
06/19/08
06/19/07
06/19/06
06/17/05
06/18/04
06/19/03
06/19/02
06/19/01
06/19/00
06/18/99
06/19/98
06/19/97
06/19/96
06/19/95
06/17/94

EXIT
PRICE
419.50
229.70
177.90
229.00
283.00
189.50
165.20
168.30
170.80
142.40
171.00
273.90
242.20
176.40
206.00

PROFIT

PROFIT
AMOUNT

65.70
2.00
0.80
43.10
6.70
18.90
10.50
9.80
3.90
10.40
-12.10
12.10
5.90
11.30
14.00

6570.00
200.00
80.00
4310.00
670.00
1890.00
1050.00
980.00
390.00
1040.00
-1210.00
1210.00
590.00
1130.00
1400.00

15.36
-12.10
13.53

1536.43
-1210.00
1353.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/19/08
06/18/07
06/02/06
06/17/05
04/02/04
05/14/03
06/05/02
06/13/01
05/10/00
06/18/99

6570.00
1010.00
830.00
4310.00
5820.00
2630.00
1520.00
1430.00
2090.00
1040.00

05/09/97
04/22/96
05/22/95
05/23/94

3250.00
2470.00
1440.00
1530.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/20/08
04/24/07
04/10/06
04/04/05
06/03/04
03/24/03
04/11/02
03/30/01

-3930.00
-3100.00
-610.00
-80.00
-2180.00
-320.00
-130.00
-1440.00

05/27/99
06/11/98

-350.00
-3050.00

03/19/96
03/10/95
04/04/94

-840.00
-150.00
-640.00
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

68

HISTORICAL SOYBEAN COMPLEX REPORT

Buy May Soybean Meal(CBOT) / Sell Oct Soybean Meal(CBOT)


Enter on approximately 03/19 - Exit on approximately 03/29
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/19/08
03/19/07
03/20/06
03/21/05
03/19/04
03/19/03
03/19/02
03/19/01
03/20/00
03/19/99
03/19/98
03/19/97
03/19/96
03/20/95
03/21/94

Percentage Correct

ENTRY
PRICE
24.19
-11.09
-6.29
0.30
72.19
18.00
3.70
3.90
-2.50
-5.40
-6.00
48.39
-3.59
-9.70
4.00
100

EXIT
DATE
03/28/08
03/29/07
03/29/06
03/29/05
03/29/04
03/28/03
03/28/02
03/29/01
03/29/00
03/29/99
03/27/98
03/27/97
03/29/96
03/29/95
03/29/94

EXIT
PRICE
47.30
-10.40
-3.50
4.09
74.19
19.50
3.80
8.29
-1.00
-4.50
-5.59
52.00
5.09
-9.39
4.19

Average Profit on Winning Trades

PROFIT

PROFIT
AMOUNT

23.10
0.70
2.80
3.80
2.00
1.50
0.10
4.40
1.50
0.90
0.40
3.60
8.70
0.30
0.20

2310.00
70.00
280.00
380.00
200.00
150.00
10.00
440.00
150.00
90.00
40.00
360.00
870.00
30.00
20.00

3.60

360.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/28/08
03/29/07
03/29/06
03/29/05
03/22/04
03/27/03
03/25/02
03/29/01
03/29/00
03/29/99
03/26/98
03/20/97
03/29/96
03/27/95
03/25/94

2310.00
70.00
280.00
380.00
410.00
180.00
240.00
440.00
150.00
90.00
110.00
470.00
870.00
60.00
30.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/27/07

-10.00

03/22/05
03/24/04
03/24/03
03/20/02

-20.00
-170.00
-100.00
-0.00

03/27/00
03/23/99
03/20/98

-40.00
-30.00
-60.00

03/23/95
03/22/94

-30.00
-60.00
15
0
15

Winners

Average Loss on Trades

Losers

3.60

Average Net Profit Per Trade

360.00

Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)December
Contract Size: 100 tons

CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/07/08
04/05/07
04/05/06
04/05/05
04/05/04
04/07/03
04/05/02
04/05/01
04/05/00
04/05/99
04/06/98
04/07/97
04/08/96
04/05/95
04/05/94

Percentage Correct

SELL
PRICE
303.00
227.90
179.40
185.60
239.80
154.00
151.90
145.70
175.60
146.10
169.00
221.60
248.60
183.80
182.80
87

EXIT
DATE
04/16/08
04/16/07
04/13/06
04/15/05
04/16/04
04/16/03
04/16/02
04/16/01
04/14/00
04/16/99
04/16/98
04/16/97
04/16/96
04/13/95
04/15/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
305.00
215.70
179.30
184.30
224.70
157.60
151.70
144.80
172.20
142.70
168.10
218.20
242.80
180.90
180.90

PROFIT

PROFIT
AMOUNT

-2.00
12.20
0.10
1.30
15.10
-3.60
0.20
0.90
3.40
3.40
0.90
3.40
5.80
2.90
1.90

-200.00
1220.00
10.00
130.00
1510.00
-360.00
20.00
90.00
340.00
340.00
90.00
340.00
580.00
290.00
190.00

3.96
-2.80
3.06

396.15
-280.00
306.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/08/08
04/13/07
04/10/06
04/15/05
04/15/04

360.00
1310.00
390.00
130.00
1940.00

04/11/02
04/10/01
04/11/00
04/12/99
04/14/98
04/16/97
04/16/96
04/13/95
04/14/94

380.00
90.00
440.00
410.00
650.00
340.00
580.00
290.00
220.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/09/08

-850.00

04/07/05
04/07/04
04/15/03

-280.00
-290.00
-370.00

04/09/01

-60.00

04/10/97
04/12/96
04/11/95

-200.00
-300.00
-180.00

13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

69

Soybean Meal Strategy Tables

Sell on approximately 04/05 - Exit on approximately 04/16

Soybean Meal(CBOT)July
Contract Size: 100 tons

Buy on approximately 04/20 - Exit on approximately 06/23


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/21/08
04/20/07
04/20/06
04/20/05
04/20/04
04/21/03
04/22/02
04/20/01
04/20/00
04/20/99
04/20/98
04/21/97
04/22/96
04/20/95
04/20/94

Percentage Correct

BUY
PRICE
341.30
202.10
172.80
195.30
295.70
187.60
159.10
150.90
170.10
136.20
160.50
267.80
261.00
169.60
188.40
93

EXIT
DATE
06/23/08
06/22/07
06/23/06
06/23/05
06/23/04
06/23/03
06/21/02
06/22/01
06/23/00
06/23/99
06/23/98
06/23/97
06/21/96
06/23/95
06/23/94

EXIT
PRICE
404.00
217.40
176.50
228.40
304.60
190.60
166.40
163.70
170.20
138.50
175.30
273.70
246.80
174.10
191.80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

62.70
15.30
3.70
33.10
8.90
3.00
7.30
12.80
0.10
2.30
14.80
5.90
-14.20
4.50
3.40

6270.00
1530.00
370.00
3310.00
890.00
300.00
730.00
1280.00
10.00
230.00
1480.00
590.00
-1420.00
450.00
340.00

12.70
-14.20
10.91

1270.00
-1420.00
1090.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/19/08
06/18/07
06/02/06
06/20/05
05/11/04
05/14/03
06/05/02
06/13/01
05/10/00
06/18/99
06/23/98
05/09/97

7820.00
3570.00
1260.00
3710.00
3230.00
930.00
1080.00
2190.00
1770.00
620.00
1480.00
2650.00

05/22/95
05/23/94

990.00
1890.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/06/08
04/24/07
05/23/06
05/13/05
06/03/04
04/23/03
05/10/02
04/25/01
06/20/00
05/27/99
06/11/98
06/09/97
06/12/96
04/27/95
05/13/94

-1350.00
-540.00
-100.00
-590.00
-4120.00
-620.00
-290.00
-490.00
-100.00
-770.00
-790.00
-300.00
-2710.00
-300.00
-210.00
14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)December
Contract Size: 100 tons

Soybean Meal Strategy Tables

Buy on approximately 04/28 - Exit on approximately 05/18


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/28/08
04/30/07
04/28/06
04/28/05
04/28/04
04/28/03
04/29/02
04/30/01
04/28/00
04/28/99
04/28/98
04/28/97
04/29/96
04/28/95
04/28/94

Percentage Correct

BUY
PRICE
289.50
208.20
178.80
192.30
226.30
157.90
150.80
146.90
172.90
139.20
166.60
217.40
238.20
176.40
184.90
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
05/16/08
05/18/07
05/18/06
05/18/05
05/18/04
05/16/03
05/17/02
05/18/01
05/18/00
05/18/99
05/18/98
05/16/97
05/17/96
05/18/95
05/18/94

EXIT
PRICE
332.70
221.30
181.70
196.30
222.40
167.70
154.60
151.90
182.00
141.30
164.20
231.10
245.70
182.60
187.30

PROFIT

PROFIT
AMOUNT

43.20
13.10
2.90
4.00
-3.90
9.80
3.80
5.00
9.10
2.10
-2.40
13.70
7.50
6.20
2.40

4320.00
1310.00
290.00
400.00
-390.00
980.00
380.00
500.00
910.00
210.00
-240.00
1370.00
750.00
620.00
240.00

9.45
-3.15
7.77

944.62
-315.00
776.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/16/08
05/16/07
05/09/06
05/18/05
05/05/04
05/05/03
05/15/02
05/17/01
05/12/00
05/18/99
05/06/98
05/16/97
05/16/96
05/18/95
05/18/94

4320.00
1440.00
550.00
400.00
2530.00
1220.00
390.00
560.00
1600.00
210.00
160.00
1370.00
1050.00
620.00
240.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/04/05
05/18/04

-360.00
-390.00

05/02/02
05/10/01

-100.00
-160.00

05/07/99
05/12/98
04/29/97

-140.00
-700.00
-40.00

05/08/95
05/13/94

-110.00
-600.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

70

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Aug Soybean Meal(CBOT) / Sell Mar Soybean Meal(CBOT)


Enter on approximately 05/23 - Exit on approximately 07/10
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/23/08
05/23/07
05/23/06
05/23/05
05/24/04
05/23/03
05/23/02
05/23/01
05/23/00
05/24/99
05/26/98
05/23/97
05/23/96
05/23/95
05/23/94

Percentage Correct

ENTRY
PRICE
6.69
-9.00
-7.79
1.70
43.50
17.39
9.79
6.10
0.19
-9.60
-7.19
49.60
3.59
-11.69
2.80
87

EXIT
DATE
07/10/08
07/10/07
07/10/06
07/08/05
07/09/04
07/10/03
07/10/02
07/10/01
07/10/00
07/09/99
07/10/98
07/10/97
07/10/96
07/10/95
07/08/94

EXIT
PRICE
9.80
-12.29
-6.89
0.50
83.19
23.69
18.09
6.79
6.69
-4.89
1.59
53.00
7.10
-11.00
3.60

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

3.10
-3.30
0.90
-1.20
39.70
6.30
8.30
0.70
6.50
4.70
8.80
3.40
3.50
0.70
0.80

310.00
-330.00
90.00
-120.00
3970.00
630.00
830.00
70.00
650.00
470.00
880.00
340.00
350.00
70.00
80.00

6.72
-2.25
5.53

672.31
-225.00
552.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/13/08
06/11/07
06/23/06
06/03/05
07/06/04
07/10/03
07/09/02
06/08/01
06/26/00
07/06/99
07/10/98
05/29/97
06/27/96
06/27/95
06/27/94

1300.00
220.00
240.00
190.00
4760.00
630.00
880.00
450.00
670.00
500.00
880.00
350.00
550.00
290.00
80.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/29/08
06/29/07
07/03/06
06/24/05
06/03/04
06/12/03

-240.00
-480.00
-80.00
-470.00
-900.00
-430.00

05/26/00

-40.00

07/02/97
05/29/96

-1680.00
-150.00

06/17/94

-250.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)July
Contract Size: 100 tons

CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/04/08
06/04/07
06/05/06
06/06/05
06/04/04
06/04/03
06/04/02
06/04/01
06/05/00
06/04/99
06/04/98
06/04/97
06/04/96
06/05/95
06/06/94

Percentage Correct

BUY
PRICE
360.00
220.40
183.90
215.20
263.70
186.70
169.20
164.70
180.30
134.80
155.00
273.10
237.90
172.10
192.40
80

EXIT
DATE
06/19/08
06/19/07
06/19/06
06/17/05
06/18/04
06/19/03
06/19/02
06/19/01
06/19/00
06/18/99
06/19/98
06/19/97
06/19/96
06/19/95
06/17/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
419.50
229.70
177.90
229.00
283.00
189.50
165.20
168.30
170.80
142.40
171.00
273.90
242.20
176.40
206.00

PROFIT

PROFIT
AMOUNT

59.50
9.30
-6.00
13.80
19.30
2.80
-4.00
3.60
-9.50
7.60
16.00
0.80
4.30
4.30
13.60

5950.00
930.00
-600.00
1380.00
1930.00
280.00
-400.00
360.00
-950.00
760.00
1600.00
80.00
430.00
430.00
1360.00

12.91
-6.50
9.03

1290.83
-650.00
902.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/19/08
06/18/07

5950.00
1740.00

06/17/05
06/15/04
06/10/03
06/05/02
06/13/01
06/06/00
06/18/99
06/19/98
06/13/97
06/18/96
06/19/95
06/17/94

1380.00
1950.00
790.00
70.00
810.00
50.00
760.00
1600.00
800.00
700.00
430.00
1360.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

06/09/06
06/08/05

-730.00
-410.00

06/14/02

-450.00

06/19/00

-950.00

06/11/98
06/09/97
06/12/96
06/12/95
06/07/94

-240.00
-830.00
-400.00
-190.00
-150.00
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

71

Soybean Meal Strategy Tables

Buy on approximately 06/04 - Exit on approximately 06/19

Soybean Meal(CBOT)December
Contract Size: 100 tons

Sell on approximately 06/29 - Exit on approximately 07/21


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/30/08
06/29/07
06/29/06
06/29/05
06/29/04
06/30/03
07/01/02
06/29/01
06/29/00
06/29/99
06/29/98
06/30/97
07/01/96
06/29/95
06/29/94

Percentage Correct

SELL
PRICE
412.00
240.50
177.30
213.30
218.70
165.40
171.10
162.30
158.40
136.10
161.80
200.60
236.90
178.80
189.20
87

EXIT
DATE
07/21/08
07/20/07
07/21/06
07/21/05
07/21/04
07/21/03
07/19/02
07/20/01
07/21/00
07/21/99
07/21/98
07/21/97
07/19/96
07/21/95
07/21/94

EXIT
PRICE

PROFIT

365.30
234.70
170.40
211.60
189.80
156.40
169.80
162.00
153.40
140.20
155.00
193.70
233.70
195.20
172.80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

46.70
5.80
6.90
1.70
28.90
9.00
1.30
0.30
5.00
-4.10
6.80
6.90
3.20
-16.40
16.40

4670.00
580.00
690.00
170.00
2890.00
900.00
130.00
30.00
500.00
-410.00
680.00
690.00
320.00
-1640.00
1640.00

10.68
-10.25
7.89

1068.46
-1025.00
789.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/21/08
07/17/07
07/21/06
06/30/05
07/21/04
07/18/03
07/08/02
07/20/01
07/17/00
07/09/99
07/14/98
07/02/97
07/05/96

4670.00
970.00
690.00
680.00
2890.00
1030.00
530.00
30.00
1230.00
1330.00
1040.00
1330.00
590.00

07/20/94

1640.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/03/08
07/13/07
07/03/06
07/15/05

-1700.00
-2500.00
-540.00
-1490.00

07/01/03
07/16/02
07/12/01

-100.00
-120.00
-1230.00

07/21/99
06/30/98
07/14/97
07/12/96
07/17/95

-410.00
-440.00
-160.00
-1680.00
-1820.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)August
Contract Size: 100 tons

Soybean Meal Strategy Tables

Buy on approximately 07/06 - Exit on approximately 07/13


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/07/08
07/06/07
07/06/06
07/06/05
07/06/04
07/07/03
07/08/02
07/06/01
07/06/00
07/06/99
07/06/98
07/07/97
07/08/96
07/06/95
07/06/94

Percentage Correct

BUY
PRICE
425.70
235.10
176.50
216.40
294.70
182.80
181.10
170.80
159.90
125.90
160.20
226.40
240.30
175.90
184.60
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
07/11/08
07/13/07
07/13/06
07/13/05
07/13/04
07/11/03
07/12/02
07/13/01
07/13/00
07/13/99
07/13/98
07/11/97
07/12/96
07/13/95
07/13/94

EXIT
PRICE
445.90
255.60
172.10
221.20
266.00
185.20
184.50
176.90
161.40
127.20
163.80
245.60
259.70
179.00
184.70

PROFIT

PROFIT
AMOUNT

20.20
20.50
-4.40
4.80
-28.70
2.40
3.40
6.10
1.50
1.30
3.60
19.20
19.40
3.10
0.10

2020.00
2050.00
-440.00
480.00
-2870.00
240.00
340.00
610.00
150.00
130.00
360.00
1920.00
1940.00
310.00
10.00

8.12
-16.55
4.83

812.31
-1655.00
483.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/11/08
07/13/07

2020.00
2050.00

07/13/05

480.00

07/09/03
07/11/02
07/12/01
07/07/00
07/13/99
07/08/98
07/11/97
07/12/96
07/12/95
07/11/94

310.00
370.00
900.00
170.00
130.00
690.00
1920.00
1940.00
320.00
200.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/08/08

-790.00

07/13/06
07/08/05
07/13/04
07/08/03

-440.00
-540.00
-2870.00
-60.00

07/09/99

-350.00

07/07/95
07/12/94

-70.00
-50.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

72

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Meal(CBOT)September
Contract Size: 100 tons

Sell on approximately 07/13 - Exit on approximately 08/08


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

Percentage Correct

SELL
PRICE

EXIT
DATE

429.70
258.50
173.40
221.70
234.80
174.10
179.60
174.70
155.90
125.90
159.40
230.10
256.40
180.90
182.90
93

08/08/08
08/08/07
08/08/06
08/08/05
08/06/04
08/08/03
08/08/02
08/08/01
08/08/00
08/06/99
08/07/98
08/08/97
08/08/96
08/08/95
08/08/94

EXIT
PRICE
319.80
232.10
159.30
209.60
181.20
162.60
174.90
169.70
147.10
144.40
137.50
229.70
243.60
176.80
173.30

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

109.90
26.40
14.10
12.10
53.60
11.50
4.70
5.00
8.80
-18.50
21.90
0.40
12.80
4.10
9.60

10990.00
2640.00
1410.00
1210.00
5360.00
1150.00
470.00
500.00
880.00
-1850.00
2190.00
40.00
1280.00
410.00
960.00

21.06
-18.50
18.43

2106.43
-1850.00
1842.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/08/08
07/30/07
08/08/06
08/05/05
08/04/04
08/06/03
07/29/02
07/20/01
08/07/00
07/16/99
08/07/98
07/17/97
07/26/96
08/04/95
08/04/94

10990.00
4240.00
1410.00
1290.00
5540.00
1360.00
1320.00
780.00
990.00
200.00
2190.00
1080.00
1850.00
640.00
1070.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/15/05
07/14/04

-480.00
-420.00

07/22/02

-390.00

08/04/99
07/17/98
08/06/97

-2080.00
-580.00
-460.00

07/17/95

-1080.00

14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Mar Soybean Meal(CBOT) / Sell Aug Soybean Meal(CBOT)


Enter on approximately 07/15 - Exit on approximately 07/30
ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

07/15/08
07/16/07
07/17/06
07/15/05
07/15/04
07/15/03
07/15/02
07/16/01
07/17/00
07/15/99
07/15/98
07/15/97
07/15/96
07/17/95
07/15/94

Percentage Correct

ENTRY
PRICE
-15.30
14.50
7.40
-1.69
-50.30
-22.90
-21.00
-5.50
-8.50
6.10
-5.09
-53.20
-6.50
10.09
-2.50
87

EXIT
DATE
07/30/08
07/30/07
07/28/06
07/29/05
07/30/04
07/30/03
07/30/02
07/30/01
07/28/00
07/30/99
07/30/98
07/30/97
07/30/96
07/28/95
07/29/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
5.00
16.79
9.69
-0.20
-18.19
-8.20
-10.80
-11.40
1.59
7.80
-1.40
-50.40
-13.00
12.60
0.50

PROFIT

PROFIT
AMOUNT

20.30
2.30
2.30
1.50
32.10
14.70
10.20
-5.90
10.10
1.70
3.70
2.80
-6.50
2.50
3.00

2030.00
230.00
230.00
150.00
3210.00
1470.00
1020.00
-590.00
1010.00
170.00
370.00
280.00
-650.00
250.00
300.00

8.25
-6.20
6.32

824.62
-620.00
632.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/30/08
07/24/07
07/28/06
07/28/05
07/29/04
07/30/03
07/30/02

2030.00
270.00
230.00
240.00
3420.00
1470.00
1020.00

07/21/00
07/23/99
07/29/98
07/30/97

1100.00
440.00
680.00
280.00

07/28/95
07/27/94

250.00
350.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/19/06
07/22/05

-20.00
-190.00

07/16/02
07/26/01

-30.00
-650.00

07/21/98
07/25/97
07/26/96
07/20/95
07/19/94

-420.00
-680.00
-710.00
-160.00
-80.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

73

Soybean Meal Strategy Tables

CONT
YEAR

Soybean Meal(CBOT)March
Contract Size: 100 tons

Buy on approximately 08/20 - Exit on approximately 09/01


CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

08/20/08
08/20/07
08/21/06
08/22/05
08/20/04
08/20/03
08/20/02
08/20/01
08/21/00
08/20/99
08/20/98
08/20/97
08/20/96
08/21/95
08/22/94

Percentage Correct

BUY
PRICE
359.80
232.30
165.70
195.50
179.50
181.00
165.30
162.00
159.50
146.50
144.40
194.00
242.50
186.50
176.80
80

EXIT
DATE
08/29/08
08/31/07
09/01/06
09/01/05
09/01/04
08/29/03
08/30/02
08/31/01
09/01/00
09/01/99
09/01/98
08/29/97
08/30/96
09/01/95
09/01/94

EXIT
PRICE
364.90
251.30
166.00
190.50
186.70
183.40
168.40
167.10
171.50
151.20
141.50
196.90
248.00
192.90
175.80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

5.10
19.00
0.30
-5.00
7.20
2.40
3.10
5.10
12.00
4.70
-2.90
2.90
5.50
6.40
-1.00

510.00
1900.00
30.00
-500.00
720.00
240.00
310.00
510.00
1200.00
470.00
-290.00
290.00
550.00
640.00
-100.00

6.14
-2.97
4.32

614.17
-296.67
432.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/26/08
08/30/07
08/24/06
08/23/05
08/25/04
08/25/03
08/27/02
08/31/01
08/31/00
09/01/99

1460.00
2020.00
280.00
20.00
840.00
490.00
350.00
510.00
1350.00
470.00

08/27/97
08/29/96
09/01/95
08/24/94

480.00
780.00
640.00
140.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

08/22/06
08/31/05
08/27/04

-80.00
-640.00
-60.00

08/28/01
08/22/00
08/30/99
08/28/98

-110.00
-200.00
-200.00
-670.00

08/21/96
08/24/95
08/29/94

-50.00
-60.00
-260.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)December
Contract Size: 100 tons

Soybean Meal Strategy Tables

Sell on approximately 09/16 - Exit on approximately 10/06


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

09/16/08
09/17/07
09/18/06
09/16/05
09/16/04
09/16/03
09/16/02
09/17/01
09/18/00
09/16/99
09/16/98
09/16/97
09/16/96
09/18/95
09/16/94

Percentage Correct

SELL
PRICE
319.50
269.70
165.10
176.60
165.70
184.40
183.40
169.10
168.70
149.90
131.50
213.10
254.70
203.80
165.90
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
10/06/08
10/05/07
10/06/06
10/06/05
10/06/04
10/06/03
10/04/02
10/05/01
10/06/00
10/06/99
10/06/98
10/06/97
10/04/96
10/06/95
10/06/94

EXIT
PRICE
249.90
265.40
167.80
167.30
156.70
201.10
170.40
163.80
167.90
149.80
130.20
203.60
241.40
193.60
161.10

PROFIT

PROFIT
AMOUNT

69.60
4.30
-2.70
9.30
9.00
-16.70
13.00
5.30
0.80
0.10
1.30
9.50
13.30
10.20
4.80

6960.00
430.00
-270.00
930.00
900.00
-1670.00
1300.00
530.00
80.00
10.00
130.00
950.00
1330.00
1020.00
480.00

11.58
-9.70
8.74

1157.69
-970.00
874.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/06/08
10/05/07
09/27/06
10/05/05
10/05/04

6960.00
430.00
360.00
1050.00
940.00

10/03/02
09/28/01
09/19/00
09/23/99
09/18/98
09/30/97
10/04/96
10/02/95
10/06/94

1420.00
970.00
250.00
450.00
320.00
1610.00
1330.00
1090.00
480.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

09/24/08
09/27/07
10/05/06

-1300.00
-1910.00
-450.00

10/02/03
09/18/02

-1990.00
-120.00

09/28/00
09/30/99
09/28/98

-290.00
-240.00
-240.00

09/26/96

-410.00

09/21/94

-150.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

74

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Meal(CBOT)May
Contract Size: 100 tons

Sell on approximately 09/21 - Exit on approximately 10/02


CONT
YEAR

SELL
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

09/22/08
09/21/07
09/21/06
09/21/05
09/21/04
09/22/03
09/23/02
09/21/01
09/21/00
09/21/99
09/21/98
09/22/97
09/23/96
09/21/95
09/21/94

Percentage Correct

SELL
PRICE
338.50
281.40
173.00
180.40
170.50
189.50
175.70
159.70
170.00
152.50
140.80
196.80
250.60
206.40
173.80
93

EXIT
DATE
10/02/08
10/02/07
10/02/06
09/30/05
10/01/04
10/02/03
10/02/02
10/02/01
10/02/00
10/01/99
10/02/98
10/02/97
10/02/96
10/02/95
09/30/94

EXIT
PRICE
285.60
274.40
169.10
176.40
168.20
197.90
171.20
158.60
169.30
151.60
139.50
193.40
238.50
196.20
169.40

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

52.90
7.00
3.90
4.00
2.30
-8.40
4.50
1.10
0.70
0.90
1.30
3.40
12.10
10.20
4.40

5290.00
700.00
390.00
400.00
230.00
-840.00
450.00
110.00
70.00
90.00
130.00
340.00
1210.00
1020.00
440.00

7.76
-8.40
6.69

776.43
-840.00
668.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/02/08
10/02/07
09/27/06
09/29/05
09/30/04
09/23/03
10/02/02
09/28/01
10/02/00
09/23/99
10/02/98
10/01/97
10/02/96
10/02/95
09/30/94

5290.00
700.00
560.00
490.00
410.00
250.00
450.00
330.00
70.00
280.00
130.00
540.00
1210.00
1020.00
440.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

09/24/08
09/27/07

-520.00
-1060.00

10/02/03
09/24/02

-840.00
-210.00

09/28/00
09/30/99
09/28/98
09/24/97

-210.00
-180.00
-320.00
-50.00

14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)December
Contract Size: 100 tons

CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

10/06/08
10/05/07
10/05/06
10/05/05
10/05/04
10/06/03
10/07/02
10/05/01
10/05/00
10/05/99
10/05/98
10/06/97
10/07/96
10/05/95
10/05/94

Percentage Correct

BUY
PRICE
249.90
265.40
169.60
166.10
156.30
201.10
171.00
163.80
168.90
148.90
128.90
203.60
243.10
193.60
162.70
80

EXIT
DATE
11/14/08
11/16/07
11/16/06
11/16/05
11/16/04
11/14/03
11/15/02
11/16/01
11/16/00
11/16/99
11/16/98
11/14/97
11/15/96
11/16/95
11/16/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
265.50
292.30
190.00
173.40
156.40
242.70
164.40
165.60
169.80
150.50
148.20
231.50
234.30
209.60
158.80

PROFIT

PROFIT
AMOUNT

15.60
26.90
20.40
7.30
0.10
41.60
-6.60
1.80
0.90
1.60
19.30
27.90
-8.80
16.00
-3.90

1560.00
2690.00
2040.00
730.00
10.00
4160.00
-660.00
180.00
90.00
160.00
1930.00
2790.00
-880.00
1600.00
-390.00

14.95
-6.43
10.67

1495.00
-643.33
1067.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/30/08
11/15/07
11/08/06
11/11/05
10/11/04
11/03/03
10/21/02
10/08/01
11/06/00
10/13/99
11/12/98
11/07/97
10/09/96
11/02/95
10/24/94

3340.00
2810.00
3140.00
1560.00
700.00
5440.00
140.00
290.00
570.00
800.00
2400.00
4140.00
210.00
1730.00
200.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

10/15/08
10/08/07
10/10/06

-540.00
-490.00
-280.00

11/05/04

-930.00

11/12/02
10/22/01
10/13/00
10/28/99

-770.00
-760.00
-620.00
-250.00

11/01/96

-2690.00

11/03/94

-420.00
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

75

Soybean Meal Strategy Tables

Buy on approximately 10/05 - Exit on approximately 11/16

Buy Dec Soybean Meal(CBOT) / Sell Jul Soybean Meal(CBOT)


Enter on approximately 10/07 - Exit on approximately 11/06
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

10/07/08
10/08/07
10/09/06
10/07/05
10/07/04
10/07/03
10/07/02
10/08/01
10/09/00
10/07/99
10/07/98
10/07/97
10/07/96
10/09/95
10/07/94

Percentage Correct

ENTRY
PRICE
-13.09
-8.30
-7.59
-10.00
-10.09
8.00
-1.80
6.79
-2.09
-4.00
-15.19
2.80
7.59
-5.40
-10.59
93

EXIT
DATE
11/06/08
11/06/07
11/06/06
11/04/05
11/05/04
11/06/03
11/06/02
11/06/01
11/06/00
11/05/99
11/06/98
11/06/97
11/06/96
11/06/95
11/04/94

EXIT
PRICE
-10.50
-3.00
-4.90
-8.60
-9.19
19.79
3.69
12.79
3.69
1.59
-13.90
16.19
13.20
-1.19
-14.89

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

2.60
5.30
2.70
1.40
0.90
11.80
5.50
6.00
5.80
5.60
1.30
13.40
5.60
4.20
-4.30

260.00
530.00
270.00
140.00
90.00
1180.00
550.00
600.00
580.00
560.00
130.00
1340.00
560.00
420.00
-430.00

5.15
-4.30
4.52

515.00
-430.00
452.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/23/08
11/06/07
11/03/06
11/03/05
10/20/04
10/23/03
11/04/02
11/06/01
10/31/00
11/05/99
10/19/98
11/06/97
11/06/96
10/30/95
10/11/94

710.00
530.00
330.00
190.00
300.00
2670.00
610.00
600.00
620.00
560.00
210.00
1340.00
560.00
530.00
80.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

10/09/08

-80.00

10/12/06
10/19/05

-40.00
-90.00

10/09/02
10/15/01

-40.00
-170.00

10/22/99
10/14/98
10/22/97

-200.00
-10.00
-140.00

10/11/95
11/04/94

-20.00
-430.00
14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)December
Contract Size: 100 tons

Soybean Meal Strategy Tables

Buy on approximately 10/22 - Exit on approximately 11/17


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

10/22/08
10/22/07
10/23/06
10/24/05
10/22/04
10/22/03
10/22/02
10/22/01
10/23/00
10/22/99
10/22/98
10/22/97
10/22/96
10/23/95
10/24/94

Percentage Correct

BUY
PRICE
257.30
275.70
182.90
169.90
156.40
232.50
170.10
156.20
167.30
147.40
140.20
223.10
225.20
207.40
164.70
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
11/17/08
11/16/07
11/17/06
11/17/05
11/17/04
11/17/03
11/15/02
11/16/01
11/17/00
11/17/99
11/17/98
11/17/97
11/15/96
11/17/95
11/17/94

EXIT
PRICE
271.30
292.30
190.40
174.80
157.80
240.20
164.40
165.60
175.80
148.40
148.30
231.40
234.30
211.20
158.40

PROFIT

PROFIT
AMOUNT

14.00
16.60
7.50
4.90
1.40
7.70
-5.70
9.40
8.50
1.00
8.10
8.30
9.10
3.80
-6.30

1400.00
1660.00
750.00
490.00
140.00
770.00
-570.00
940.00
850.00
100.00
810.00
830.00
910.00
380.00
-630.00

7.72
-6.00
5.89

771.54
-600.00
588.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/30/08
11/15/07
11/08/06
11/11/05
10/25/04
11/03/03
10/23/02
11/15/01
11/17/00
11/05/99
11/12/98
11/07/97
11/15/96
11/17/95

2600.00
1780.00
1810.00
1180.00
200.00
2300.00
80.00
940.00
850.00
730.00
1270.00
2190.00
910.00
380.00

Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

11/01/07

-360.00

10/28/05
11/05/04

-110.00
-940.00

11/12/02

-680.00

11/10/00
10/28/99
10/23/98
10/28/97
11/01/96
10/27/95
11/17/94

-200.00
-100.00
-140.00
-170.00
-900.00
-220.00
-630.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

76

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Meal(CBOT)July
Contract Size: 100 tons

Buy on approximately 11/09 - Exit on approximately 01/17


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

11/09/07
11/09/06
11/09/05
11/09/04
11/10/03
11/11/02
11/09/01
11/09/00
11/09/99
11/09/98
11/10/97
11/11/96
11/09/95
11/09/94
11/09/93

Percentage Correct

BUY
PRICE
286.70
205.20
182.80
158.40
221.10
164.00
151.20
167.00
151.20
158.10
221.50
208.00
211.70
175.10
198.70
80

EXIT
DATE
01/17/08
01/17/07
01/17/06
01/14/05
01/16/04
01/17/03
01/17/02
01/17/01
01/14/00
01/15/99
01/16/98
01/17/97
01/17/96
01/17/95
01/17/94

EXIT
PRICE

PROFIT

355.50
222.20
185.20
158.80
255.90
164.40
156.30
170.20
161.40
136.60
194.60
233.10
235.70
166.40
199.70

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

68.80
17.00
2.40
0.40
34.80
0.40
5.10
3.20
10.20
-21.50
-26.90
25.10
24.00
-8.70
1.00

6880.00
1700.00
240.00
40.00
3480.00
40.00
510.00
320.00
1020.00
-2150.00
-2690.00
2510.00
2400.00
-870.00
100.00

16.03
-19.03
9.02

1603.33
-1903.33
902.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/15/08
01/17/07
12/23/05
11/23/04
01/16/04
01/07/03
01/16/02
12/22/00
01/14/00
11/12/98
11/11/97
01/17/97
01/03/96

8100.00
1700.00
2230.00
1370.00
3480.00
550.00
580.00
1760.00
1020.00
720.00
520.00
2510.00
3110.00

11/10/93

1000.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

11/12/07
12/06/06
11/29/05

-170.00
-1070.00
-690.00

11/25/03
01/13/03
01/02/02
11/10/00
11/18/99
01/15/99
01/16/98
12/10/96
11/14/95
01/05/95
01/11/94

-630.00
-360.00
-940.00
-130.00
-740.00
-2150.00
-2690.00
-70.00
-210.00
-1070.00
-50.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Meal(CBOT)January
Contract Size: 100 tons

CONT
YEAR

BUY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

12/18/08
12/18/07
12/18/06
12/19/05
12/20/04
12/18/03
12/18/02
12/18/01
12/18/00
12/20/99
12/18/98
12/18/97
12/18/96
12/18/95
12/19/94

Percentage Correct

BUY
PRICE
266.30
322.50
184.90
198.60
160.10
227.10
163.30
147.80
191.90
146.50
144.20
206.00
228.10
233.90
157.70
93

EXIT
DATE
12/26/08
12/26/07
12/26/06
12/23/05
12/23/04
12/26/03
12/26/02
12/26/01
12/26/00
12/23/99
12/24/98
12/26/97
12/26/96
12/26/95
12/23/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
297.70
337.70
188.40
203.40
161.40
246.70
165.20
149.00
194.60
147.40
144.50
210.20
230.90
231.90
159.90

PROFIT

PROFIT
AMOUNT

31.40
15.20
3.50
4.80
1.30
19.60
1.90
1.20
2.70
0.90
0.30
4.20
2.80
-2.00
2.20

3140.00
1520.00
350.00
480.00
130.00
1960.00
190.00
120.00
270.00
90.00
30.00
420.00
280.00
-200.00
220.00

6.57
-2.00
6.00

657.14
-200.00
600.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

12/26/08
12/26/07
12/26/06
12/22/05
12/23/04
12/26/03
12/23/02
12/20/01
12/22/00
12/22/99
12/21/98
12/24/97
12/24/96
12/19/95
12/21/94

3140.00
1520.00
350.00
500.00
130.00
1960.00
550.00
350.00
410.00
140.00
40.00
420.00
480.00
80.00
500.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/20/06
12/20/05
12/22/04
12/23/03

-20.00
-80.00
-110.00
-370.00

12/21/99
12/22/98

-70.00
-130.00

12/21/95

-510.00

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

77

Soybean Meal Strategy Tables

Buy on approximately 12/18 - Exit on approximately 12/26

Personal Notes
78

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Oil (BO)

Page
SEASONAL PATTERNS & WEEKLY CONTINUATIONS
Jan (F), Mar (H), May (K), Jul (N)................................................................................... 80
Aug (Q), Sep (U), Oct (V), Dec (Z) ................................................................................... 82
Jan vs: Mar, May, Jul, Oct ................................................................................................ 84
Mar vs: May, Jul, Aug, Oct ............................................................................................... 86
May vs: Jul, Aug, Sep, Oct ................................................................................................ 88
Jul vs: Aug, Sep, Oct, Dec................................................................................................. 90
Aug vs: Sep, Oct, Dec, Jan ................................................................................................ 92
Sep vs: Oct, Dec, Jan, May ................................................................................................ 94
Oct vs: Dec, Jan, Mar, May ............................................................................................... 96
Dec vs: Jan, Mar, May, Jul ................................................................................................ 98

STRATEGIES

Soybean Oil

Seasonal Trades & Spread Strategy Summary .............................................................. 100


Seasonal Strategy Detail Tables ....................................................................................... 101

MOORE RESEARCH CENTER, INC.

79

Jan Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Mar Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

May Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40

Soybean Oil Seasonal Patterns

5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jul Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

80

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybean Oil(CBOT)


80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Mar Soybean Oil(CBOT)


80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

2001

2002

2003

2004

Weekly May Soybean Oil(CBOT)


80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

2001

2002

2003

2004

Weekly Jul Soybean Oil(CBOT)

Soybean Oil Weeklies

80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

81

Aug Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40

Soybean Oil Seasonal Patterns

5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Dec Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

82

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybean Oil(CBOT)


80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Sep Soybean Oil(CBOT)


80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

2001

2002

2003

2004

Weekly Oct Soybean Oil(CBOT)


80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

2001

2002

2003

2004

Weekly Dec Soybean Oil(CBOT)

Soybean Oil Weeklies

80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1998

1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

83

Jan Soybean Oil(CBOT) - Mar Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybean Oil(CBOT) - May Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybean Oil(CBOT) - Jul Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

Soybean Oil Spread Patterns: January

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Jan Soybean Oil(CBOT) - Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

84

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybean Oil(CBOT) - Mar Soybean Oil(CBOT)


0.80
0.60
0.40
0.20
-0.00
-0.20
-0.40
-0.60
-0.80
-1.00
-1.20
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Jan Soybean Oil(CBOT) - May Soybean Oil(CBOT)


2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
1999

2000

2001

2002

2003

2004

2005

Weekly Jan Soybean Oil(CBOT) - Jul Soybean Oil(CBOT)


2.50
2.00
1.50

Soybean Oil Spread Weeklies: January

1.00
0.50
0.00
-0.50
-1.00
-1.50
-2.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jan Soybean Oil(CBOT) - Oct Soybean Oil(CBOT)


5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

85

Mar Soybean Oil(CBOT) - May Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybean Oil(CBOT) - Jul Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybean Oil(CBOT) - Aug Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Oil Spread Patterns: March

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Mar Soybean Oil(CBOT) - Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

86

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Mar Soybean Oil(CBOT) - May Soybean Oil(CBOT)


1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
-2.00
-2.50
-3.00
-3.50
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Mar Soybean Oil(CBOT) - Jul Soybean Oil(CBOT)


2.00
1.00
0.00
-1.00
-2.00
-3.00
-4.00
1999

2000

2001

2002

2003

2004

2005

Weekly Mar Soybean Oil(CBOT) - Aug Soybean Oil(CBOT)


3.00
2.00
1.00

Soybean Oil Spread Weeklies: March

0.00
-1.00
-2.00
-3.00
-4.00
-5.00
1999

2000

2001

2002

2003

2004

2005

Weekly Mar Soybean Oil(CBOT) - Oct Soybean Oil(CBOT)


5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
-4.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

87

May Soybean Oil(CBOT) - Jul Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybean Oil(CBOT) - Aug Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybean Oil(CBOT) - Sep Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Oil Spread Patterns: May

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

May Soybean Oil(CBOT) - Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

88

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly May Soybean Oil(CBOT) - Jul Soybean Oil(CBOT)


0.80
0.60
0.40
0.20
0.00
-0.20
-0.40
-0.60
-0.80
-1.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly May Soybean Oil(CBOT) - Aug Soybean Oil(CBOT)


2.50
2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
1999

2000

2001

2002

2003

2004

2005

2006

Weekly May Soybean Oil(CBOT) - Sep Soybean Oil(CBOT)


4.00
3.00
2.00

Soybean Oil Spread Weeklies: May

1.00
0.00
-1.00
-2.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly May Soybean Oil(CBOT) - Oct Soybean Oil(CBOT)


7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

89

Jul Soybean Oil(CBOT) - Aug Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybean Oil(CBOT) - Sep Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybean Oil(CBOT) - Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Oil Spread Patterns: July

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Jul Soybean Oil(CBOT) - Dec Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

90

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jul Soybean Oil(CBOT) - Aug Soybean Oil(CBOT)


1.50

1.00

0.50

0.00

-0.50

-1.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Jul Soybean Oil(CBOT) - Sep Soybean Oil(CBOT)


3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jul Soybean Oil(CBOT) - Oct Soybean Oil(CBOT)


6.00
5.00
4.00
3.00

Soybean Oil Spread Weeklies: July

2.00
1.00
0.00
-1.00
-2.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jul Soybean Oil(CBOT) - Dec Soybean Oil(CBOT)


7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

91

Aug Soybean Oil(CBOT) - Sep Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybean Oil(CBOT) - Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybean Oil(CBOT) - Dec Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80

Soybean Oil Spread Patterns: August

15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Aug Soybean Oil(CBOT) - Jan Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

92

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybean Oil(CBOT) - Sep Soybean Oil(CBOT)


2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Aug Soybean Oil(CBOT) - Oct Soybean Oil(CBOT)


5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Aug Soybean Oil(CBOT) - Dec Soybean Oil(CBOT)


6.00
5.00
4.00

Soybean Oil Spread Weeklies: August

3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Aug Soybean Oil(CBOT) - Jan Soybean Oil(CBOT)


6.00
5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

93

Sep Soybean Oil(CBOT) - Oct Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybean Oil(CBOT) - Dec Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybean Oil(CBOT) - Jan Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

Soybean Oil Spread Patterns: September

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Sep Soybean Oil(CBOT) - May Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

94

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Sep Soybean Oil(CBOT) - Oct Soybean Oil(CBOT)


3.00
2.50
2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Sep Soybean Oil(CBOT) - Dec Soybean Oil(CBOT)


5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Sep Soybean Oil(CBOT) - Jan Soybean Oil(CBOT)


5.00
4.00

Soybean Oil Spread Weeklies: September

3.00
2.00
1.00
0.00
-1.00
-2.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Sep Soybean Oil(CBOT) - May Soybean Oil(CBOT)


6.00
5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

95

Oct Soybean Oil(CBOT) - Dec Soybean Oil(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Oct Soybean Oil(CBOT) - Jan Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Oct Soybean Oil(CBOT) - Mar Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

Soybean Oil Spread Patterns: October

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Oct Soybean Oil(CBOT) - May Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

96

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Oct Soybean Oil(CBOT) - Dec Soybean Oil(CBOT)


2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2007

2008

Weekly Oct Soybean Oil(CBOT) - Jan Soybean Oil(CBOT)


2.50
2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
1999

2000

2001

2002

2003

2004

2005

Weekly Oct Soybean Oil(CBOT) - Mar Soybean Oil(CBOT)


2.50
2.00
1.50

Soybean Oil Spread Weeklies: October

1.00
0.50
0.00
-0.50
-1.00
-1.50
-2.00
1999

2000

2001

2002

2003

2004

2005

Weekly Oct Soybean Oil(CBOT) - May Soybean Oil(CBOT)


4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

97

Dec Soybean Oil(CBOT) - Jan Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Dec Soybean Oil(CBOT) - Mar Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Dec Soybean Oil(CBOT) - May Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

Soybean Oil Spread Patterns: December

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Dec Soybean Oil(CBOT) - Jul Soybean Oil(CBOT) 15 Year Seasonal(94/95-08/09)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

98

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Dec Soybean Oil(CBOT) - Jan Soybean Oil(CBOT)


1.00
0.80
0.60
0.40
0.20
0.00
-0.20
-0.40
-0.60
-0.80
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Dec Soybean Oil(CBOT) - Mar Soybean Oil(CBOT)


1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Dec Soybean Oil(CBOT) - May Soybean Oil(CBOT)


2.00
1.50

Soybean Oil Spread Weeklies: December

1.00
0.50
0.00
-0.50
-1.00
-1.50
-2.00
1999

2000

2001

2002

2003

2004

2005

Weekly Dec Soybean Oil(CBOT) - Jul Soybean Oil(CBOT)


2.50
2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
-2.00
-2.50
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

99

Seasonal Soyoil & Spread Strategies

Soybean Oil Strategy Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

Buy Soybean Oil(CBOT)July

1/29

3/16

93

14

15

919

20/47

101

Buy Soybean Oil(CBOT)March

2/08

2/26

87

13

15

595

31/19

101

Buy Soybean Oil(CBOT)March

2/13

2/22

87

13

15

414

41/10

102

Buy Soybean Oil(CBOT)October

2/15

3/03

80

12

15

738

41/18

102

Buy Soybean Oil(CBOT)July

4/08

4/20

80

12

15

466

36/13

103

Buy Dec Soybean Oil(CBOT)


Sell Jul Soybean Oil(CBOT)

4/29

6/29

93

14

15

416

7/62

103

Buy Dec Soybean Oil(CBOT)


Sell Aug Soybean Oil(CBOT)

5/03

7/28

100

15

15

308

4/87

104

Buy Dec Soybean Oil(CBOT)


Sell Jul Soybean Oil(CBOT)

5/07

6/03

93

14

15

282

10/28

104

Sell Soybean Oil(CBOT)September

6/07

8/16

87

13

15

1206

17/71

105

10 Sell Soybean Oil(CBOT)August

7/13

7/27

100

15

15

765

51/15

105

11 Sell Soybean Oil(CBOT)September

7/13

8/17

87

13

15

1149

32/36

106

12 Sell Soybean Oil(CBOT)January

7/13

10/08

80

12

15

1464

17/88

106

13 Sell Soybean Oil(CBOT)December

9/21

10/03

80

12

15

557

43/13

107

14 Buy Soybean Oil(CBOT)December

10/31

11/17

80

12

15

383

21/18

107

15 Buy Oct Soybean Oil(CBOT)


Sell May Soybean Oil(CBOT)

12/02

1/28

100

15

15

264

5/58

108

16 Buy Soybean Oil(CBOT)September

12/24

4/11

93

14

15

1023

9/110

108

17 Buy Sep Soybean Oil(CBOT)


Sell May Soybean Oil(CBOT)

12/26

4/01

100

15

15

230

2/97

109

For other MRCI products and information: 800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243

Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


100

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Oil(CBOT)July
Contract Size: 60,000 lbs

Buy on approximately 01/29 - Exit on approximately 03/16


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/29/08
01/29/07
01/30/06
01/31/05
01/29/04
01/29/03
01/29/02
01/29/01
01/31/00
01/29/99
01/29/98
01/29/97
01/29/96
01/30/95
01/31/94

BUY
PRICE
54.59
29.75
22.90
19.67
28.79
20.31
15.71
15.31
17.14
22.09
25.79
24.88
24.58
25.39
28.50
93

Percentage Correct

EXIT
DATE
03/14/08
03/16/07
03/16/06
03/16/05
03/16/04
03/14/03
03/15/02
03/16/01
03/16/00
03/16/99
03/16/98
03/14/97
03/15/96
03/16/95
03/16/94

EXIT
PRICE
61.32
31.24
23.84
24.39
33.50
20.89
17.31
16.46
17.30
19.14
27.34
25.76
24.93
25.98
28.98

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

6.73
1.49
0.94
4.72
4.71
0.58
1.60
1.15
0.16
-2.95
1.55
0.88
0.35
0.59
0.48

4038.00
894.00
564.00
2832.00
2826.00
348.00
960.00
690.00
96.00
-1770.00
930.00
528.00
210.00
354.00
288.00

1.85
-2.95
1.53

1111.29
-1770.00
919.20

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/03/08
02/26/07
03/03/06
03/15/05
03/01/04
02/04/03
03/15/02
03/13/01
03/14/00

10038.00
1200.00
1422.00
2862.00
3318.00
456.00
960.00
882.00
150.00

02/20/98
03/10/97
02/12/96
03/06/95
03/01/94

1122.00
1110.00
420.00
1122.00
300.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/01/06
02/03/05

-150.00
-240.00

02/12/03
01/31/02
02/13/01
02/28/00
03/05/99

-198.00
-66.00
-90.00
-690.00
-2520.00

02/14/97
03/04/96
02/01/95
02/08/94

-258.00
-240.00
-126.00
-492.00
14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Oil(CBOT)March
Contract Size: 60,000 lbs

CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/08/08
02/08/07
02/08/06
02/08/05
02/09/04
02/10/03
02/08/02
02/08/01
02/08/00
02/08/99
02/09/98
02/10/97
02/08/96
02/08/95
02/08/94

BUY
PRICE

Percentage Correct

55.42
30.43
22.15
19.17
31.46
20.31
15.33
14.41
15.76
21.41
26.46
23.87
24.17
26.66
27.83
87

EXIT
DATE
02/26/08
02/26/07
02/24/06
02/25/05
02/26/04
02/26/03
02/26/02
02/26/01
02/25/00
02/26/99
02/26/98
02/26/97
02/26/96
02/24/95
02/25/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
64.27
30.71
22.96
22.54
34.05
20.51
15.53
14.67
15.37
17.62
26.58
23.89
24.49
27.64
28.89

PROFIT

PROFIT
AMOUNT

8.85
0.28
0.81
3.37
2.59
0.20
0.20
0.26
-0.39
-3.79
0.12
0.02
0.32
0.98
1.06

5310.00
168.00
486.00
2022.00
1554.00
120.00
120.00
156.00
-234.00
-2274.00
72.00
12.00
192.00
588.00
636.00

1.47
-2.09
0.99

879.69
-1254.00
595.20

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/26/08
02/26/07
02/17/06
02/25/05
02/24/04
02/20/03
02/20/02
02/21/01
02/10/00

5310.00
168.00
708.00
2022.00
1584.00
228.00
372.00
354.00
126.00

02/20/98
02/25/97
02/12/96
02/15/95
02/25/94

330.00
96.00
222.00
732.00
636.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/11/08
02/14/07
02/14/06
02/09/05
02/18/04
02/12/03
02/11/02

-72.00
-450.00
-66.00
-12.00
-24.00
-330.00
-24.00

02/25/00
02/26/99
02/17/98
02/14/97
02/16/96

-234.00
-2274.00
-150.00
-120.00
-6.00

13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

101

Soybean Oil Strategy Tables

Buy on approximately 02/08 - Exit on approximately 02/26

Soybean Oil(CBOT)March
Contract Size: 60,000 lbs

Buy on approximately 02/13 - Exit on approximately 02/22


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/13/08
02/13/07
02/13/06
02/14/05
02/13/04
02/13/03
02/13/02
02/13/01
02/14/00
02/16/99
02/13/98
02/13/97
02/13/96
02/13/95
02/14/94

BUY
PRICE
56.26
30.01
22.22
19.97
31.72
20.00
15.66
14.41
15.59
20.42
26.54
23.84
24.44
27.30
28.44
87

Percentage Correct

EXIT
DATE
02/22/08
02/22/07
02/22/06
02/22/05
02/20/04
02/21/03
02/22/02
02/22/01
02/22/00
02/22/99
02/20/98
02/21/97
02/22/96
02/22/95
02/22/94

EXIT
PRICE

PROFIT

62.30
30.32
22.75
21.75
32.93
20.67
15.69
14.82
15.82
18.89
27.01
23.97
24.46
27.24
28.54

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

6.04
0.31
0.53
1.78
1.21
0.67
0.03
0.41
0.23
-1.53
0.47
0.13
0.02
-0.06
0.10

3624.00
186.00
318.00
1068.00
726.00
402.00
18.00
246.00
138.00
-918.00
282.00
78.00
12.00
-36.00
60.00

0.92
-0.80
0.69

550.62
-477.00
413.60

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/22/08
02/22/07
02/17/06
02/22/05
02/20/04
02/20/03
02/20/02
02/21/01
02/22/00

3624.00
186.00
666.00
1068.00
726.00
414.00
174.00
354.00
138.00

02/20/98
02/20/97
02/22/96
02/15/95
02/22/94

282.00
102.00
12.00
348.00
60.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/14/07
02/14/06
02/16/05
02/18/04

-198.00
-108.00
-246.00
-180.00

02/14/02

-156.00

02/15/00
02/22/99
02/17/98
02/14/97
02/16/96
02/22/95
02/15/94

-72.00
-918.00
-198.00
-102.00
-168.00
-36.00
-252.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Oil(CBOT)October
Contract Size: 60,000 lbs

Soybean Oil Strategy Tables

Buy on approximately 02/15 - Exit on approximately 03/03


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/15/08
02/15/07
02/15/06
02/15/05
02/17/04
02/18/03
02/15/02
02/15/01
02/15/00
02/16/99
02/17/98
02/18/97
02/15/96
02/15/95
02/15/94

BUY
PRICE

Percentage Correct
Average Profit on Winning Trades
Average Loss on Trades
Average Net Profit Per Trade

59.87
31.20
23.47
20.05
27.65
20.12
16.27
15.70
16.61
21.20
26.63
25.05
25.60
25.52
26.45
80

EXIT
DATE
03/03/08
03/02/07
03/03/06
03/03/05
03/03/04
03/03/03
03/01/02
03/02/01
03/03/00
03/03/99
03/03/98
03/03/97
03/01/96
03/03/95
03/03/94

EXIT
PRICE
71.65
31.26
25.67
22.85
29.60
20.17
16.65
16.88
17.16
19.05
26.40
25.61
24.71
25.55
26.63

PROFIT

PROFIT
AMOUNT

11.78
0.06
2.20
2.80
1.95
0.05
0.38
1.18
0.55
-2.15
-0.23
0.56
-0.89
0.03
0.18

7068.00
36.00
1320.00
1680.00
1170.00
30.00
228.00
708.00
330.00
-1290.00
-138.00
336.00
-534.00
18.00
108.00

1.81
-1.09
1.23

1086.00
-654.00
738.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/03/08
02/26/07
03/03/06
02/28/05
03/01/04
02/27/03
02/20/02
03/01/01
03/03/00

7068.00
666.00
1320.00
1872.00
1680.00
78.00
252.00
810.00
330.00

02/18/98
03/03/97
02/26/96
02/24/95
03/01/94

282.00
336.00
90.00
72.00
402.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/20/07

-42.00

02/16/05
02/18/04
02/24/03
02/28/02

-30.00
-90.00
-240.00
-114.00

02/28/00
02/26/99
03/03/98
02/24/97
03/01/96
02/17/95

-108.00
-1626.00
-138.00
-66.00
-534.00
-222.00

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

102

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Oil(CBOT)July
Contract Size: 60,000 lbs

Buy on approximately 04/08 - Exit on approximately 04/20


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/08/08
04/09/07
04/10/06
04/08/05
04/08/04
04/08/03
04/08/02
04/09/01
04/10/00
04/08/99
04/08/98
04/08/97
04/08/96
04/10/95
04/08/94

BUY
PRICE
56.57
32.67
23.08
22.49
31.78
22.50
16.65
15.86
18.13
18.77
27.43
24.35
26.31
25.74
27.28
80

Percentage Correct

EXIT
DATE
04/18/08
04/20/07
04/20/06
04/20/05
04/20/04
04/17/03
04/19/02
04/20/01
04/20/00
04/20/99
04/20/98
04/18/97
04/19/96
04/20/95
04/20/94

EXIT
PRICE
61.74
32.90
24.52
22.87
31.98
22.13
17.18
14.96
18.94
20.37
28.94
24.82
26.70
25.04
28.17

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

5.17
0.23
1.44
0.38
0.20
-0.37
0.53
-0.90
0.81
1.60
1.51
0.47
0.39
-0.70
0.89

3102.00
138.00
864.00
228.00
120.00
-222.00
318.00
-540.00
486.00
960.00
906.00
282.00
234.00
-420.00
534.00

1.14
-0.66
0.78

681.00
-394.00
466.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/15/08
04/13/07
04/20/06
04/19/05
04/14/04

4020.00
540.00
864.00
354.00
600.00

04/19/02

318.00

04/19/00
04/20/99
04/20/98
04/18/97
04/10/96
04/11/95
04/20/94

486.00
960.00
906.00
282.00
474.00
108.00
534.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/18/07
04/13/06
04/18/05
04/12/04
04/16/03
04/15/02
04/20/01
04/11/00

-612.00
-54.00
-24.00
-384.00
-306.00
-24.00
-540.00
-42.00

04/11/97
04/16/96
04/18/95
04/15/94

-72.00
-48.00
-546.00
-90.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Dec Soybean Oil(CBOT) / Sell Jul Soybean Oil(CBOT)


Enter on approximately 04/29 - Exit on approximately 06/29
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/29/08
04/30/07
05/01/06
04/29/05
04/29/04
04/29/03
04/29/02
04/30/01
05/01/00
04/29/99
04/29/98
04/29/97
04/29/96
05/01/95
04/29/94

ENTRY
PRICE

Percentage Correct

1.00
1.00
0.92
-0.07
-6.57
-1.10
0.64
0.71
0.85
0.64
-0.32
0.39
0.53
-0.60
-2.87
93

EXIT
DATE
06/27/08
06/29/07
06/29/06
06/29/05
06/29/04
06/27/03
06/28/02
06/29/01
06/29/00
06/29/99
06/29/98
06/27/97
06/28/96
06/29/95
06/29/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
1.79
1.27
1.07
0.53
-3.25
-0.62
0.58
0.77
0.93
0.67
0.78
0.58
0.97
-0.26
-0.26

PROFIT

PROFIT
AMOUNT

0.79
0.27
0.14
0.60
3.32
0.48
-0.06
0.07
0.08
0.04
1.10
0.19
0.43
0.33
2.61

474.00
162.00
84.00
360.00
1992.00
288.00
-36.00
42.00
48.00
24.00
660.00
114.00
258.00
198.00
1566.00

0.75
-0.06
0.69

447.86
-36.00
415.60

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/18/08
06/19/07
06/22/06
06/24/05
06/03/04
06/12/03
04/30/02
06/08/01
06/06/00
05/26/99
06/26/98
06/10/97
06/28/96
05/19/95
06/29/94

480.00
246.00
120.00
420.00
2268.00
504.00
6.00
42.00
102.00
60.00
696.00
228.00
258.00
378.00
1566.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/02/05

-12.00

06/14/02
05/14/01
06/26/00
05/04/99
05/08/98
05/05/97

-120.00
-30.00
-48.00
-36.00
-126.00
-102.00

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

103

Soybean Oil Strategy Tables

CONT
YEAR

Buy Dec Soybean Oil(CBOT) / Sell Aug Soybean Oil(CBOT)


Enter on approximately 05/03 - Exit on approximately 07/28
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/05/08
05/03/07
05/03/06
05/03/05
05/03/04
05/05/03
05/03/02
05/03/01
05/03/00
05/03/99
05/04/98
05/05/97
05/03/96
05/03/95
05/03/94

ENTRY
PRICE
0.84
0.93
0.76
-0.10
-4.41
-0.78
0.48
0.57
0.69
0.49
-0.49
0.14
0.58
-0.34
-2.33
100

Percentage Correct

EXIT
DATE
07/28/08
07/27/07
07/28/06
07/28/05
07/28/04
07/28/03
07/26/02
07/27/01
07/28/00
07/28/99
07/28/98
07/28/97
07/26/96
07/28/95
07/28/94

EXIT
PRICE
1.30
1.06
0.91
0.32
-1.76
-0.60
0.50
0.67
0.81
0.53
0.56
0.50
0.78
-0.30
-0.60

Average Profit on Winning Trades

PROFIT

PROFIT
AMOUNT

0.46
0.12
0.16
0.42
2.66
0.18
0.02
0.11
0.13
0.05
1.05
0.37
0.20
0.04
1.73

276.00
72.00
96.00
252.00
1596.00
108.00
12.00
66.00
78.00
30.00
630.00
222.00
120.00
24.00
1038.00

0.51

308.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/18/08
06/19/07
07/12/06
06/24/05
07/28/04
06/12/03
05/10/02
07/17/01
07/19/00
05/26/99
06/26/98
06/04/97
07/12/96
05/19/95
06/29/94

372.00
120.00
138.00
420.00
1596.00
294.00
18.00
120.00
84.00
54.00
660.00
246.00
162.00
222.00
1182.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/26/06

-12.00

07/09/04
07/11/03
06/14/02
05/08/01
06/26/00
07/06/99
05/08/98
07/11/97
05/08/96
06/21/95
05/04/94

-132.00
-240.00
-72.00
-18.00
-42.00
-36.00
-60.00
-30.00
-66.00
-18.00
-42.00
15
0
15

Winners

Average Loss on Trades

Losers

0.51

Average Net Profit Per Trade

308.00

Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Dec Soybean Oil(CBOT) / Sell Jul Soybean Oil(CBOT)

Soybean Oil Strategy Tables

Enter on approximately 05/07 - Exit on approximately 06/03


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/07/08
05/07/07
05/08/06
05/09/05
05/07/04
05/07/03
05/07/02
05/07/01
05/08/00
05/07/99
05/07/98
05/07/97
05/07/96
05/08/95
05/09/94

ENTRY
PRICE

Percentage Correct
Average Profit on Winning Trades
Average Loss on Trades
Average Net Profit Per Trade

1.23
1.24
0.94
-0.07
-5.71
-0.78
0.62
0.70
0.89
0.66
-0.39
0.44
0.66
-0.15
-2.76
93

EXIT
DATE
06/03/08
06/01/07
06/02/06
06/03/05
06/03/04
06/03/03
06/03/02
06/01/01
06/02/00
06/03/99
06/03/98
06/03/97
06/03/96
06/02/95
06/03/94

EXIT
PRICE
1.66
1.28
1.10
0.51
-2.78
-0.41
0.46
0.73
0.97
0.69
0.14
0.66
0.78
-0.14
-1.12

PROFIT

PROFIT
AMOUNT

0.43
0.04
0.16
0.59
2.93
0.37
-0.16
0.03
0.09
0.03
0.54
0.23
0.12
0.01
1.63

258.00
24.00
96.00
354.00
1758.00
222.00
-96.00
18.00
54.00
18.00
324.00
138.00
72.00
6.00
978.00

0.51
-0.16
0.47

308.57
-96.00
281.60

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/03/08
05/29/07
05/31/06
06/03/05
06/03/04
06/02/03

258.00
54.00
96.00
354.00
1758.00
264.00

05/25/01
06/02/00
05/26/99
06/02/98
06/03/97
05/22/96
05/19/95
06/03/94

36.00
54.00
48.00
342.00
138.00
114.00
108.00
978.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/09/07

-42.00

05/13/03
06/03/02
05/14/01
05/19/00
05/11/99
05/08/98

-156.00
-96.00
-24.00
-0.00
-12.00
-84.00

05/08/96
05/26/95

-24.00
-78.00

14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

104

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Oil(CBOT)September
Contract Size: 60,000 lbs

Sell on approximately 06/07 - Exit on approximately 08/16


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/09/08
06/07/07
06/07/06
06/07/05
06/07/04
06/09/03
06/07/02
06/07/01
06/07/00
06/07/99
06/08/98
06/09/97
06/07/96
06/07/95
06/07/94

SELL
PRICE
65.00
36.86
25.37
23.28
27.31
22.04
18.60
15.43
16.71
17.56
25.98
23.64
26.58
26.47
27.11
87

Percentage Correct

EXIT
DATE
08/15/08
08/16/07
08/16/06
08/16/05
08/16/04
08/15/03
08/16/02
08/16/01
08/16/00
08/16/99
08/14/98
08/15/97
08/16/96
08/16/95
08/16/94

EXIT
PRICE
50.04
34.50
25.15
22.29
22.90
19.40
21.08
18.49
15.55
16.63
23.93
22.48
25.11
26.18
24.07

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

14.96
2.36
0.22
0.99
4.41
2.64
-2.48
-3.06
1.16
0.93
2.05
1.16
1.47
0.29
3.04

8976.00
1416.00
132.00
594.00
2646.00
1584.00
-1488.00
-1836.00
696.00
558.00
1230.00
696.00
882.00
174.00
1824.00

2.74
-2.77
2.01

1646.77
-1662.00
1205.60

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/12/08
08/16/07
06/19/06
08/16/05
08/04/04
08/05/03
06/20/02
06/25/01
08/07/00
07/28/99
08/10/98
07/25/97
07/26/96
06/12/95
08/03/94

9018.00
1416.00
480.00
594.00
3474.00
1638.00
426.00
228.00
906.00
1608.00
1656.00
1218.00
1434.00
780.00
1962.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/02/08
07/13/07
07/11/06
06/24/05
06/24/04
06/19/03
08/15/02
08/13/01
06/21/00
06/11/99
06/10/98
06/13/97
06/10/96
07/17/95
06/17/94

-2016.00
-864.00
-1392.00
-1842.00
-96.00
-444.00
-1536.00
-2322.00
-204.00
-18.00
-288.00
-36.00
-276.00
-1056.00
-570.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Oil(CBOT)August
Contract Size: 60,000 lbs

CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

SELL
PRICE

Percentage Correct

63.79
37.97
27.21
25.43
26.42
21.46
19.91
18.32
15.62
15.15
25.37
22.43
26.39
27.64
24.69
100

EXIT
DATE
07/25/08
07/27/07
07/27/06
07/27/05
07/27/04
07/25/03
07/26/02
07/27/01
07/27/00
07/27/99
07/27/98
07/25/97
07/26/96
07/27/95
07/27/94

Average Profit on Winning Trades

EXIT
PRICE
59.17
36.76
25.87
24.31
24.24
20.16
19.30
18.15
15.37
15.08
23.91
21.42
23.97
27.03
23.93

PROFIT

PROFIT
AMOUNT

4.62
1.21
1.34
1.12
2.18
1.30
0.61
0.17
0.25
0.07
1.46
1.01
2.42
0.61
0.76

2772.00
726.00
804.00
672.00
1308.00
780.00
366.00
102.00
150.00
42.00
876.00
606.00
1452.00
366.00
456.00

1.28

765.20

Average Loss on Trades


Average Net Profit Per Trade

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/23/08
07/26/07
07/27/06
07/21/05
07/27/04
07/24/03
07/26/02
07/20/01
07/26/00
07/27/99
07/24/98
07/25/97
07/26/96
07/19/95
07/27/94

3144.00
828.00
804.00
672.00
1308.00
780.00
366.00
582.00
198.00
42.00
966.00
606.00
1452.00
366.00
456.00
Winners
Losers

1.28

765.20

Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/16/08

-180.00

07/14/06
07/18/05
07/14/04

-108.00
-66.00
-6.00

07/22/02
07/17/01

-108.00
-222.00

07/23/99

-648.00

07/15/97

-216.00

07/17/95
07/18/94

-384.00
-96.00
15
0
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

105

Soybean Oil Strategy Tables

Sell on approximately 07/13 - Exit on approximately 07/27

Soybean Oil(CBOT)September
Contract Size: 60,000 lbs

Sell on approximately 07/13 - Exit on approximately 08/17


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

SELL
PRICE
64.15
38.30
27.46
25.52
25.43
21.27
19.99
18.47
15.82
15.29
25.56
22.56
26.58
27.58
24.58
87

Percentage Correct

EXIT
DATE
08/15/08
08/17/07
08/17/06
08/17/05
08/17/04
08/15/03
08/16/02
08/17/01
08/17/00
08/17/99
08/17/98
08/15/97
08/16/96
08/17/95
08/17/94

EXIT
PRICE

PROFIT

50.04
35.39
24.86
22.60
23.26
19.40
21.08
18.45
15.33
16.96
24.17
22.48
25.11
26.43
24.27

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

14.11
2.91
2.60
2.92
2.17
1.87
-1.09
0.02
0.49
-1.67
1.39
0.08
1.47
1.15
0.31

8466.00
1746.00
1560.00
1752.00
1302.00
1122.00
-654.00
12.00
294.00
-1002.00
834.00
48.00
882.00
690.00
186.00

2.42
-1.38
1.92

1453.38
-828.00
1149.20

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/12/08
08/16/07
08/17/06
08/16/05
08/04/04
08/05/03
07/29/02
07/20/01
08/07/00
07/28/99
08/10/98
07/25/97
07/26/96
08/04/95
08/03/94

8508.00
2280.00
1560.00
1938.00
2346.00
1176.00
420.00
588.00
372.00
246.00
1404.00
570.00
1434.00
894.00
444.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/16/08

-186.00

07/14/06
07/18/05
07/14/04

-108.00
-66.00
-144.00

08/15/02
08/13/01
07/21/00
08/10/99

-702.00
-498.00
-6.00
-1212.00

07/15/97

-222.00

07/17/95
07/18/94

-390.00
-96.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Oil(CBOT)January
Contract Size: 60,000 lbs

Soybean Oil Strategy Tables

Sell on approximately 07/13 - Exit on approximately 10/08


CONT
YEAR

SELL
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

SELL
PRICE

Percentage Correct
Average Profit on Winning Trades
Average Loss on Trades
Average Net Profit Per Trade

65.70
39.33
28.35
25.77
22.70
20.35
20.42
19.17
16.72
15.91
26.05
22.75
27.30
27.25
23.63
80

EXIT
DATE
10/08/08
10/08/07
10/06/06
10/07/05
10/08/04
10/08/03
10/08/02
10/08/01
10/06/00
10/08/99
10/08/98
10/08/97
10/08/96
10/06/95
10/07/94

EXIT
PRICE
40.31
39.01
24.60
23.92
20.78
24.83
19.55
15.46
15.76
17.27
24.48
24.38
24.04
27.12
23.30

PROFIT

PROFIT
AMOUNT

25.39
0.32
3.75
1.85
1.92
-4.48
0.87
3.71
0.96
-1.36
1.57
-1.63
3.26
0.13
0.33

15234.00
192.00
2250.00
1110.00
1152.00
-2688.00
522.00
2226.00
576.00
-816.00
942.00
-978.00
1956.00
78.00
198.00

3.67
-2.49
2.44

2203.00
-1494.00
1463.60

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/08/08
08/16/07
10/03/06
09/16/05
07/30/04
07/31/03
10/04/02
10/08/01
10/06/00
07/28/99
08/07/98
07/25/97
10/04/96
09/05/95
07/20/94

15234.00
2418.00
2562.00
2046.00
1260.00
858.00
564.00
2226.00
576.00
186.00
1506.00
420.00
2040.00
912.00
324.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/16/08
09/27/07
07/14/06
07/14/05
09/01/04
10/02/03
08/15/02
08/13/01
09/05/00
09/13/99

-198.00
-882.00
-150.00
-60.00
-1830.00
-3006.00
-486.00
-480.00
-6.00
-1746.00

10/06/97

-1098.00

07/17/95
09/12/94

-330.00
-1320.00
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

106

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Oil(CBOT)December
Contract Size: 60,000 lbs

Sell on approximately 09/21 - Exit on approximately 10/03


CONT
YEAR

SELL
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

09/22/08
09/21/07
09/21/06
09/21/05
09/21/04
09/22/03
09/23/02
09/21/01
09/21/00
09/21/99
09/21/98
09/22/97
09/23/96
09/21/95
09/21/94

SELL
PRICE
50.03
39.52
24.70
23.21
21.71
23.87
19.65
16.68
15.62
17.03
25.72
24.02
25.57
26.79
24.57
80

Percentage Correct

EXIT
DATE
10/03/08
10/03/07
10/03/06
10/03/05
10/01/04
10/03/03
10/03/02
10/03/01
10/03/00
10/01/99
10/02/98
10/03/97
10/03/96
10/03/95
10/03/94

EXIT
PRICE

PROFIT

42.50
38.70
23.67
24.65
20.90
24.80
19.51
15.30
15.58
16.59
24.02
24.13
23.89
26.68
23.84

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT
AMOUNT

7.53
0.82
1.03
-1.44
0.81
-0.93
0.14
1.38
0.04
0.44
1.70
-0.11
1.68
0.11
0.73

4518.00
492.00
618.00
-864.00
486.00
-558.00
84.00
828.00
24.00
264.00
1020.00
-66.00
1008.00
66.00
438.00

1.37
-0.83
0.93

820.50
-496.00
557.20

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/03/08
10/02/07
10/03/06
09/27/05
09/24/04
09/26/03
10/02/02
10/03/01
09/25/00
10/01/99
10/01/98
09/29/97
10/03/96
09/22/95
10/03/94

4518.00
552.00
618.00
558.00
618.00
126.00
90.00
828.00
24.00
264.00
1044.00
168.00
1008.00
282.00
438.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

09/27/07

-498.00

10/03/05

-864.00

10/02/03
09/26/02
09/24/01
09/28/00
09/29/99

-930.00
-366.00
-78.00
-198.00
-18.00

10/03/97

-66.00

09/29/95
09/26/94

-66.00
-300.00
12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Soybean Oil(CBOT)December
Contract Size: 60,000 lbs

CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

10/31/08
10/31/07
10/31/06
10/31/05
11/01/04
10/31/03
10/31/02
10/31/01
10/31/00
11/01/99
11/02/98
10/31/97
10/31/96
10/31/95
10/31/94

BUY
PRICE

Percentage Correct

33.60
42.31
26.83
22.86
21.18
26.09
21.84
15.51
14.62
16.12
24.39
25.22
22.59
26.61
25.66
80

EXIT
DATE
11/17/08
11/16/07
11/17/06
11/17/05
11/17/04
11/17/03
11/15/02
11/16/01
11/17/00
11/17/99
11/17/98
11/17/97
11/15/96
11/17/95
11/17/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
32.32
44.82
28.28
22.16
21.61
27.50
22.36
15.87
15.18
16.13
24.70
26.29
23.53
25.51
28.75

PROFIT

PROFIT
AMOUNT

-1.28
2.51
1.45
-0.70
0.43
1.41
0.52
0.36
0.56
0.01
0.31
1.07
0.94
-1.10
3.09

-768.00
1506.00
870.00
-420.00
258.00
846.00
312.00
216.00
336.00
6.00
186.00
642.00
564.00
-660.00
1854.00

1.06
-1.03
0.64

633.00
-616.00
383.20

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

11/04/08
11/09/07
11/14/06
11/03/05
11/17/04
11/17/03
11/11/02
11/13/01
11/15/00
11/08/99
11/06/98
11/13/97
11/15/96
11/03/95
11/17/94

1422.00
1662.00
1098.00
402.00
258.00
846.00
492.00
408.00
414.00
60.00
402.00
888.00
564.00
90.00
1854.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

11/17/08
11/01/07

-768.00
-144.00

11/17/05
11/04/04
11/07/03

-420.00
-780.00
-564.00

11/12/99
11/03/98

-216.00
-30.00

11/14/95

-744.00

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

107

Soybean Oil Strategy Tables

Buy on approximately 10/31 - Exit on approximately 11/17

Buy Oct Soybean Oil(CBOT) / Sell May Soybean Oil(CBOT)


Enter on approximately 12/02 - Exit on approximately 01/28
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

12/03/07
12/04/06
12/02/05
12/02/04
12/02/03
12/02/02
12/03/01
12/04/00
12/02/99
12/02/98
12/02/97
12/02/96
12/04/95
12/02/94
12/02/93

ENTRY
PRICE
-0.95
0.50
0.62
0.14
-3.50
-1.55
0.37
0.75
0.62
0.30
-0.37
0.64
0.42
-1.75
-2.11
100

Percentage Correct

EXIT
DATE
01/28/08
01/26/07
01/27/06
01/28/05
01/28/04
01/28/03
01/28/02
01/26/01
01/28/00
01/28/99
01/28/98
01/28/97
01/26/96
01/27/95
01/28/94

EXIT
PRICE
0.66
1.00
0.78
0.25
-2.25
-0.53
0.56
0.94
0.76
0.37
-0.07
0.76
0.73
-1.39
-1.85

Average Profit on Winning Trades

PROFIT

PROFIT
AMOUNT

1.61
0.50
0.15
0.12
1.25
1.02
0.19
0.19
0.14
0.07
0.31
0.12
0.31
0.36
0.26

966.00
300.00
90.00
72.00
750.00
612.00
114.00
114.00
84.00
42.00
186.00
72.00
186.00
216.00
156.00

0.44

264.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/17/08
12/29/06
12/28/05
01/18/05
01/28/04
01/16/03
12/31/01
12/26/00
01/28/00
12/30/98
01/28/98
01/22/97
01/19/96
01/16/95
01/28/94

1272.00
366.00
120.00
96.00
750.00
714.00
144.00
168.00
84.00
138.00
186.00
90.00
258.00
486.00
156.00

WORST
EQUITY
DATE

12/30/05
12/28/04

-150.00
-246.00

12/11/98
12/29/97
12/06/96
12/20/95
12/29/94
01/14/94

-78.00
-156.00
-174.00
-54.00
-138.00
-618.00
15
0
15

Winners

Average Loss on Trades

Losers

0.44

Average Net Profit Per Trade

264.00

WORST
EQUITY
AMOUNT

Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Sep Soybean Oil(CBOT) / Sell May Soybean Oil(CBOT)

Soybean Oil Strategy Tables

Enter on approximately 12/26 - Exit on approximately 04/01


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

12/26/07
12/26/06
12/27/05
12/27/04
12/26/03
12/26/02
12/26/01
12/26/00
12/27/99
12/28/98
12/26/97
12/26/96
12/26/95
12/27/94
12/27/93

ENTRY
PRICE

Percentage Correct
Average Profit on Winning Trades

0.39
0.75
0.60
-0.13
-1.38
-0.67
0.40
0.51
0.55
0.35
-0.17
0.52
0.38
-1.50
-2.17
100

EXIT
DATE
04/01/08
03/30/07
03/31/06
04/01/05
04/01/04
04/01/03
04/01/02
03/30/01
03/31/00
04/01/99
04/01/98
04/01/97
04/01/96
03/31/95
03/31/94

EXIT
PRICE
1.62
0.97
0.94
-0.10
-1.17
-0.16
0.48
0.64
0.72
0.52
-0.10
0.69
0.60
-0.58
-0.89

PROFIT

PROFIT
AMOUNT

1.23
0.22
0.33
0.03
0.22
0.50
0.07
0.12
0.16
0.17
0.08
0.18
0.23
0.91
1.29

738.00
132.00
198.00
18.00
132.00
300.00
42.00
72.00
96.00
102.00
48.00
108.00
138.00
546.00
774.00

0.38

229.60

Average Loss on Trades


Average Net Profit Per Trade

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/01/08
03/09/07
03/31/06
02/03/05
03/26/04
02/11/03
03/18/02
12/29/00
03/31/00
03/04/99
02/13/98
03/27/97
02/27/96
03/16/95
03/08/94

738.00
162.00
198.00
276.00
252.00
474.00
72.00
150.00
96.00
144.00
270.00
186.00
240.00
582.00
906.00
Winners
Losers

0.38

229.60

Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/27/07
01/11/07
12/30/05
03/17/05
02/20/04

-102.00
-24.00
-210.00
-126.00
-870.00

01/15/02

-24.00

01/18/00
01/19/99
03/13/98
01/03/97

-24.00
-84.00
-216.00
-90.00

12/30/94
12/28/93

-150.00
-12.00
15
0
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

108

HISTORICAL SOYBEAN COMPLEX REPORT

Soybean Oil(CBOT)September
Contract Size: 60,000 lbs

Buy on approximately 12/24 - Exit on approximately 04/11


CONT
YEAR

BUY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

12/24/07
12/26/06
12/27/05
12/27/04
12/24/03
12/26/02
12/26/01
12/26/00
12/27/99
12/24/98
12/24/97
12/24/96
12/26/95
12/27/94
12/27/93

BUY
PRICE

Percentage Correct

48.90
30.60
22.20
21.40
25.75
20.70
16.22
15.95
17.00
24.05
25.30
24.16
26.35
25.55
26.40
93

EXIT
DATE
04/11/08
04/11/07
04/11/06
04/11/05
04/08/04
04/11/03
04/11/02
04/11/01
04/11/00
04/09/99
04/09/98
04/11/97
04/11/96
04/11/95
04/11/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
61.22
33.74
23.73
22.46
30.97
21.73
16.99
16.01
18.39
19.16
27.73
24.52
27.12
25.68
26.65

PROFIT

PROFIT
AMOUNT

12.32
3.14
1.53
1.06
5.22
1.03
0.77
0.06
1.39
-4.89
2.43
0.36
0.77
0.13
0.25

7392.00
1884.00
918.00
636.00
3132.00
618.00
462.00
36.00
834.00
-2934.00
1458.00
216.00
462.00
78.00
150.00

2.18
-4.89
1.70

1305.43
-2934.00
1022.80

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/03/08
03/29/07
03/03/06
03/15/05
03/23/04
04/08/03
03/15/02
03/13/01
04/03/00
01/08/99
04/09/98
03/10/97
04/10/96
03/06/95
03/23/94

13710.00
1938.00
1992.00
1602.00
4590.00
762.00
780.00
696.00
1296.00
180.00
1458.00
1680.00
636.00
690.00
1170.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

01/10/07
12/28/05
02/03/05

-780.00
-78.00
-1194.00

02/12/03
01/28/02
02/08/01
02/28/00
03/05/99
01/08/98
12/30/96
03/01/96
01/20/95

-450.00
-252.00
-276.00
-438.00
-3546.00
-240.00
-96.00
-1080.00
-780.00

14
1
15

Soybean Oil Strategy Tables

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

109

Personal Notes
110

HISTORICAL SOYBEAN COMPLEX REPORT

Product & Crush Spreads

Page
SEASONAL PATTERNS & WEEKLY CONTINUATIONS
Soyoil as Percentage of Product Value = (BO*.11)/(SM*.022 + BO*.11)
Jan, Mar, May, Jul............................................................................................................. 112
Aug, Sep, Oct, Dec ........................................................................................................... 114
Products (Soyoil/Soymeal) = BO - SM
Jan, Mar, May, Jul............................................................................................................. 116
Aug, Sep, Oct, Dec ........................................................................................................... 118
Crush [(11 Soymeal + 9 Soyoil)/10 Soybeans] = (SM*.022 + BO*.11) - S
Jan, Mar, May, Jul............................................................................................................. 120
Aug, Sep, Nov/Oct, Nov/Dec ........................................................................................... 122

Seasonal Spread Strategy Summary ............................................................................... 124


Seasonal Strategy Detail Tables ....................................................................................... 127

MOORE RESEARCH CENTER, INC.

Product & Crush

STRATEGIES

111

Jan Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Mar Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

May Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

Soyoil as Percent of Product

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jul Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

112

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

January Soybean Oil(CBOT) As a Percentage of Product Value


55.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

March Soybean Oil(CBOT) As a Percentage of Product Value


55.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
1999

2000

2001

2002

2003

2004

2005

2006

May Soybean Oil(CBOT) As a Percentage of Product Value


50.0%
48.0%
46.0%
44.0%
42.0%
40.0%
38.0%
36.0%
34.0%
32.0%

Soyoil as Percent of Product

30.0%
28.0%
1999

2000

2001

2002

2003

2004

2005

2006

July Soybean Oil(CBOT) As a Percentage of Product Value


50.0%
48.0%
46.0%
44.0%
42.0%
40.0%
38.0%
36.0%
34.0%
32.0%
30.0%
28.0%
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

113

Aug Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

Soyoil as Percent of Product

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Dec Soybean Oil as a Percentage Of Product Value 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

114

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

August Soybean Oil(CBOT) As a Percentage of Product Value


50.0%
48.0%
46.0%
44.0%
42.0%
40.0%
38.0%
36.0%
34.0%
32.0%
30.0%
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

September Soybean Oil(CBOT) As a Percentage of Product Value


50.0%
48.0%
46.0%
44.0%
42.0%
40.0%
38.0%
36.0%
34.0%
32.0%
30.0%
1999

2000

2001

2002

2003

2004

2005

2006

October Soybean Oil(CBOT) As a Percentage of Product Value


55.0%

50.0%

45.0%

40.0%

Soyoil as Percent of Product

35.0%

30.0%
1999

2000

2001

2002

2003

2004

2005

2006

December Soybean Oil(CBOT) As a Percentage of Product Value


55.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

115

Jan Soybean Oil(CBOT) - Jan Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Mar Soybean Oil(CBOT) - Mar Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

May Soybean Oil(CBOT) - May Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jul Soybean Oil(CBOT) - Jul Soybean Meal(CBOT) 15 Year Seasonal(94-08)

Product (BO - SM)

100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

116

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybean Oil(CBOT) - Jan Soybean Meal(CBOT)


$10000

$5000

$0

$-5000

$-10000

$-15000
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Mar Soybean Oil(CBOT) - Mar Soybean Meal(CBOT)


$8000
$6000
$4000
$2000
$0
$-2000
$-4000
$-6000
$-8000
$-10000
$-12000
1999

2000

2001

2002

2003

2004

2005

2006

Weekly May Soybean Oil(CBOT) - May Soybean Meal(CBOT)


$6000
$4000
$2000
$0
$-2000
$-4000
$-6000
$-8000
$-10000
$-12000
$-14000
$-16000
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Jul Soybean Oil(CBOT) - Jul Soybean Meal(CBOT)

Product (BO - SM)

$5000

$0

$-5000

$-10000

$-15000

$-20000
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

117

Aug Soybean Oil(CBOT) - Aug Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep Soybean Oil(CBOT) - Sep Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct Soybean Oil(CBOT) - Oct Soybean Meal(CBOT) 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Dec Soybean Oil(CBOT) - Dec Soybean Meal(CBOT) 15 Year Seasonal(94-08)

Product (BO - SM)

100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Jan

118

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybean Oil(CBOT) - Aug Soybean Meal(CBOT)


$6000
$4000
$2000
$0
$-2000
$-4000
$-6000
$-8000
$-10000
$-12000
$-14000
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Sep Soybean Oil(CBOT) - Sep Soybean Meal(CBOT)


$8000
$6000
$4000
$2000
$0
$-2000
$-4000
$-6000
$-8000
$-10000
$-12000
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Oct Soybean Oil(CBOT) - Oct Soybean Meal(CBOT)


$10000
$8000
$6000
$4000
$2000
$0
$-2000
$-4000
$-6000
$-8000
$-10000
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Dec Soybean Oil(CBOT) - Dec Soybean Meal(CBOT)


$10000

Product (BO - SM)

$8000
$6000
$4000
$2000
$0
$-2000
$-4000
$-6000
$-8000
$-10000
$-12000
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

119

Jan Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Mar Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

May Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

Crush (11 SM + 9 BO) - 10 S

20

0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jul Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

120

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Jan Soybean Crush Margin


100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Mar Soybean Crush Margin


90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
1999

2000

2001

2002

2003

2004

2005

Weekly May Soybean Crush Margin


100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00

Crush (11 SM + 9 BO) - 10 S

20.00
10.00
1999

2000

2001

2002

2003

2004

2005

Weekly Jul Soybean Crush Margin


110.00
100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

121

Aug Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

NovOct Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

Crush (11 SM + 9 BO) - 10 S

20

0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

NovDec Soybean Crush Margin 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Dec

122

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Aug Soybean Crush Margin


140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2006

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Sep Soybean Crush Margin


200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
-150.00
-200.00
1999

2000

2001

2002

2003

2004

2005

Weekly NovOct Soybean Crush Margin


110.00
100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00

Crush (11 SM + 9 BO) - 10 S

20.00
10.00
1999

2000

2001

2002

2003

2004

2005

Weekly NovDec Soybean Crush Margin


110.00
100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

123

Seasonal Soy Product & Crush Spread Strategies

Product & Crush Strategy Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

Buy 10 Nov Soybeans(CBOT)


Sell 11 Dec Soybean Meal(CBOT)
Sell 09 Dec Soybean Oil(CBOT)

1/12

2/18

93

14

15

2028

55/37

127

Buy 10 Mar Soybeans(CBOT)


Sell 11 Mar Soybean Meal(CBOT)
Sell 09 Mar Soybean Oil(CBOT)

1/20

2/06

80

12

15

1585

93/17

127

Buy Aug Soybeans(CBOT)


Sell Aug Soybean Meal(CBOT)

1/28

3/19

93

14

15

853

16/52

128

Buy Jul Soybeans(CBOT)


Sell Jul Soybean Meal(CBOT)

1/29

3/01

87

13

15

1090

33/33

128

Buy 3 Sep Soybean Oil(CBOT)


Sell 2 Sep Soybean Meal(CBOT)

2/18

2/28

80

12

15

1148

104/11

129

Buy 10 Mar Soybeans(CBOT)


Sell 11 Mar Soybean Meal(CBOT)
Sell 09 Mar Soybean Oil(CBOT)

2/20

2/28

80

12

15

1785

223/8

129

Buy 11 Oct Soybean Meal(CBOT)


Buy 09 Oct Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

2/28

3/16

93

14

15

1886

111/17

130

Buy 11 Oct Soybean Meal(CBOT)


Buy 09 Oct Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

2/28

4/26

100

15

15

3653

63/58

130

Buy 11 Oct Soybean Meal(CBOT)


Buy 09 Oct Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

3/07

4/19

100

15

15

2648

62/43

131

10 Buy 11 Sep Soybean Meal(CBOT)


Buy 09 Sep Soybean Oil(CBOT)
Sell 10 Sep Soybeans(CBOT)

3/11

4/26

93

14

15

3802

83/46

131

11 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

3/12

3/27

93

14

15

1545

103/15

132

12 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

3/12

5/06

100

15

15

2537

46/55

132

13 Buy 11 May Soybean Meal(CBOT)


Buy 09 May Soybean Oil(CBOT)
Sell 10 May Soybeans(CBOT)

3/16

3/29

87

13

15

2315

178/13

133

14 Buy 3 Sep Soybean Oil(CBOT)


Sell 2 Sep Soybean Meal(CBOT)

4/08

4/23

80

12

15

1564

98/16

133

Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


124

HISTORICAL SOYBEAN COMPLEX REPORT

Seasonal Soy Product & Crush Spread Strategies


Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

15 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

4/12

4/26

93

14

15

1731

124/14

134

16 Buy Sep Soybeans(CBOT)


Sell Sep Soybean Oil(CBOT)

4/27

5/18

93

14

15

687

31/22

134

17 Buy Oct Soybean Meal(CBOT)


Sell Oct Soybean Oil(CBOT)

4/27

5/19

93

14

15

673

29/23

135

18 Buy 2 Jul Soybean Meal(CBOT)


Sell 3 Jul Soybean Oil(CBOT)

4/27

6/27

93

14

15

3159

51/62

135

19 Buy Jul Soybean Meal(CBOT)


Sell Jul Soybean Oil(CBOT)

4/29

6/24

100

15

15

1341

24/57

136

20 Buy 2 Dec Soybean Meal(CBOT)


Sell 3 Dec Soybean Oil(CBOT)

4/30

6/10

93

14

15

1447

34/42

136

21 Buy 10 Nov Soybeans(CBOT)


Sell 11 Dec Soybean Meal(CBOT)
Sell 09 Dec Soybean Oil(CBOT)

5/22

6/07

87

13

15

1818

114/16

137

22 Buy Jul Soybeans(CBOT)


Sell Jul Soybean Oil(CBOT)

5/27

6/18

87

13

15

1419

62/23

137

23 Buy 2 Aug Soybean Meal(CBOT)


Sell 3 Aug Soybean Oil(CBOT)

5/28

6/15

93

14

15

1617

85/19

138

24 Buy Jan Soybean Meal(CBOT)


Sell Jan Soybean Oil(CBOT)

5/28

6/18

93

14

15

716

33/22

138

25 Buy 2 Jul Soybean Meal(CBOT)


Sell 3 Jul Soybean Oil(CBOT)

6/03

6/13

100

15

15

971

88/11

139

26 Buy 11 Aug Soybean Meal(CBOT)


Buy 09 Aug Soybean Oil(CBOT)
Sell 10 Aug Soybeans(CBOT)

6/07

6/24

87

13

15

1863

110/17

139

27 Buy Dec Soybean Oil(CBOT)


Sell Nov Soybeans(CBOT)

7/01

8/07

87

13

15

1314

35/38

140

28 Buy Sep Soybean Oil(CBOT)


Sell Sep Soybeans(CBOT)

7/13

8/07

87

13

15

1722

66/26

140

29 Buy Dec Soybean Meal(CBOT)


Sell Nov Soybeans(CBOT)

7/13

8/07

87

13

15

1040

40/26

141

30 Buy 11 Aug Soybean Meal(CBOT)


Buy 09 Aug Soybean Oil(CBOT)
Sell 10 Aug Soybeans(CBOT)

7/14

7/21

80

12

15

2367

338/7

141

31 Buy Aug Soybean Meal(CBOT)


Sell Aug Soybeans(CBOT)

7/15

7/29

93

14

15

845

56/15

142

Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


MOORE RESEARCH CENTER, INC.

125

Product & Crush Strategy Summary

Seasonal
Strategy

Seasonal Soy Product & Crush Spread Strategies

Product & Crush Strategy Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Average
Profit

Ave PPD/
Days

Pg
No

32 Buy 11 Sep Soybean Meal(CBOT)


Buy 09 Sep Soybean Oil(CBOT)
Sell 10 Sep Soybeans(CBOT)

8/12

8/24

80

12

15

2819

235/12

142

33 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

8/29

9/07

87

13

15

1562

174/9

143

34 Buy 2 Dec Soybean Meal(CBOT)


Sell 3 Dec Soybean Oil(CBOT)

9/20

10/12

80

12

15

1245

54/23

143

35 Buy 2 Dec Soybean Meal(CBOT)


Sell 3 Dec Soybean Oil(CBOT)

10/02

10/12

87

13

15

1272

116/11

144

36 Buy Jan Soybeans(CBOT)


Sell Jan Soybean Meal(CBOT)

11/05

11/29

80

12

15

373

15/25

144

37 Buy 2 Mar Soybean Meal(CBOT)


Sell 3 Mar Soybean Oil(CBOT)

11/27

1/16

87

13

15

1155

23/51

145

38 Buy Jan Soybean Meal(CBOT)


Sell Jan Soybean Oil(CBOT)

12/03

12/24

93

14

15

910

41/22

145

39 Buy Mar Soybeans(CBOT)


Sell Mar Soybean Meal(CBOT)

12/29

2/26

80

12

15

947

16/60

146

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


126

HISTORICAL SOYBEAN COMPLEX REPORT

Sell 11 Dec Soybean Meal(CBOT) / Sell 9 Dec Soybean Oil(CBOT) /


Buy 10 Nov Soybeans(CBOT)
Enter on approximately 01/12 - Exit on approximately 02/18
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/14/08
01/12/07
01/12/06
01/12/05
01/12/04
01/13/03
01/14/02
01/12/01
01/12/00
01/12/99
01/12/98
01/13/97
01/12/96
01/12/95
01/12/94

Percentage Correct

ENTRY
PRICE
-89.45
-68.98
-63.27
-44.59
-56.10
-44.29
-59.89
-61.60
-36.03
-35.38
-58.54
-62.11
-63.43
-65.67
-62.12
93

EXIT
DATE
02/15/08
02/16/07
02/17/06
02/18/05
02/18/04
02/18/03
02/15/02
02/16/01
02/18/00
02/18/99
02/18/98
02/18/97
02/16/96
02/17/95
02/18/94

EXIT
PRICE
-83.57
-65.37
-62.29
-47.95
-54.97
-35.69
-54.45
-57.22
-32.92
-25.26
-55.19
-55.68
-62.11
-63.52
-56.05

PROFIT

PROFIT
AMOUNT

5.88
3.61
0.98
-3.36
1.13
8.60
5.44
4.38
3.11
10.12
3.35
6.43
1.32
2.15
6.07

3468.00
1898.00
657.00
-1633.00
602.00
4337.00
2699.00
2164.00
1530.00
4733.00
1917.00
3144.00
681.00
1122.00
3101.00

2289.50
-1633.00
2028.00

2289.50
-1633.00
2028.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

01/31/08
02/16/07
02/10/06
01/31/05
01/13/04
01/29/03
02/15/02
02/01/01
02/04/00
02/18/99
02/11/98
02/14/97
01/17/96
02/17/95
02/08/94

13.63
3.61
4.86
1.72
4.03
8.81
5.44
5.99
5.43
10.12
7.35
8.80
2.38
2.15
7.31

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/07/08
01/17/07
01/27/06
02/11/05
01/29/04

-3.34
-3.34
-0.92
-4.91
-1.94

01/30/02

-0.59

01/21/98

-2.73

01/25/96
01/20/95

-5.12
-3.07

+,

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

14
1
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Sell 11 Mar Soybean Meal(CBOT) / Sell 9 Mar Soybean Oil(CBOT) /


Buy 10 Mar Soybeans(CBOT)
Enter on approximately 01/20 - Exit on approximately 02/06
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/22/08
01/22/07
01/20/06
01/20/05
01/20/04
01/21/03
01/22/02
01/22/01
01/20/00
01/20/99
01/20/98
01/20/97
01/22/96
01/20/95
01/20/94

Percentage Correct

ENTRY
PRICE
-70.16
-65.40
-60.76
-41.49
-64.40
-34.26
-73.38
-75.78
-29.98
-18.26
-39.73
-42.12
-45.90
-91.67
-55.89
80

EXIT
DATE
02/06/08
02/06/07
02/06/06
02/04/05
02/06/04
02/06/03
02/06/02
02/06/01
02/04/00
02/05/99
02/06/98
02/06/97
02/06/96
02/06/95
02/04/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-62.22
-64.58
-59.47
-37.30
-62.22
-32.38
-67.99
-62.87
-26.46
-21.18
-31.75
-43.96
-43.39
-83.98
-62.61

PROFIT

PROFIT
AMOUNT

7.94
0.82
1.29
4.19
2.18
1.88
5.39
12.91
3.52
-2.92
7.98
-1.84
2.51
7.69
-6.72

4318.00
516.00
774.00
2043.00
1233.00
956.00
2664.00
6486.00
1714.00
-1641.00
4028.00
-967.00
1295.00
3882.00
-3520.00

2492.42
-2042.67
1585.40

2492.42
-2042.67
1585.40

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/06/08
01/31/07
02/02/06
01/31/05
01/22/04
01/24/03
01/25/02
02/05/01
02/03/00
01/21/99
02/05/98
01/27/97
02/02/96
02/03/95

7.94
5.88
3.13
4.92
4.33
3.65
5.83
14.76
4.08
1.51
10.99
0.09
3.60
7.79

Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

01/27/06

-2.62

01/26/04
01/31/03

-5.06
-3.11

01/23/01

-0.14

02/05/99
01/27/98
02/03/97
01/26/96
01/30/95
02/04/94

-2.92
-0.50
-2.57
-2.46
-0.85
-6.72
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

127

Product & Crush Strategy Tables

CONT
YEAR

Buy Aug Soybeans(CBOT) / Sell Aug Soybean Meal(CBOT)


Enter on approximately 01/28 - Exit on approximately 03/19
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/28/08
01/29/07
01/30/06
01/28/05
01/28/04
01/28/03
01/28/02
01/29/01
01/28/00
01/28/99
01/28/98
01/28/97
01/29/96
01/30/95
01/28/94

Percentage Correct

ENTRY
PRICE
29380
15475
11780
10303
14570
11238
7100
7345
10015
12628
14325
14175
13300
11770
14580
93

EXIT
DATE
03/19/08
03/19/07
03/17/06
03/18/05
03/19/04
03/19/03
03/19/02
03/19/01
03/17/00
03/19/99
03/19/98
03/19/97
03/19/96
03/17/95
03/18/94

EXIT
PRICE
31780
16293
11813
12985
18575
11320
7910
7598
10088
11160
15423
15263
13313
12583
14670

PROFIT
AMOUNT
2400.00
817.50
32.50
2682.50
4005.00
82.50
810.00
252.50
72.50
-1467.50
1097.50
1087.50
12.50
812.50
90.00

BEST
EQUITY
DATE
03/03/08
02/26/07
03/03/06
03/17/05
03/19/04
03/19/03
03/15/02
03/08/01
03/17/00

9940.00
1185.00
1177.50
3377.50
4005.00
82.50
995.00
557.50
72.50

03/11/98
03/11/97
02/26/96
03/06/95
02/01/94

1137.50
1875.00
670.00
1190.00
227.50

1018.21
-1467.50
852.50

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/01/06
02/02/05
01/29/04
02/12/03

-300.00
-212.50
-15.00
-367.50

02/13/01
02/25/00
03/05/99
01/30/98
01/31/97
03/08/96
01/31/95
03/04/94

-360.00
-915.00
-2157.50
-275.00
-317.50
-115.00
-15.00
-485.00
14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Jul Soybeans(CBOT) / Sell Jul Soybean Meal(CBOT)

Product & Crush Strategy Tables

Enter on approximately 01/29 - Exit on approximately 03/01


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

01/29/08
01/29/07
01/30/06
01/31/05
01/29/04
01/29/03
01/29/02
01/29/01
01/31/00
01/29/99
01/29/98
01/29/97
01/29/96
01/30/95
01/31/94

Percentage Correct

ENTRY
PRICE
29930
15353
11723
10345
15118
11103
7155
7293
9725
12713
14445
14045
13283
11800
14983
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
02/29/08
03/31/07
03/31/06
03/31/05
03/01/04
03/31/03
03/31/02
03/31/01
03/01/00
03/31/99
03/31/98
03/31/97
03/01/96
03/31/95
03/31/94

EXIT
PRICE
38830
15763
12340
12345
19065
11320
7465
7757
9170
10593
15018
14745
13323
12605
15023

PROFIT
AMOUNT
8900.00
410.00
617.50
2000.00
3947.50
217.50
310.00
465.00
-555.00
-2120.00
572.50
700.00
40.00
805.00
40.00
1463.46
-1337.50
1090.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/29/08
02/26/07
02/28/06
02/28/05
03/01/04
02/04/03
02/20/02
03/31/01
02/01/00

8900.00
1270.00
635.00
2345.00
3947.50
252.50
497.50
465.00
12.50

02/10/98
03/31/97
02/26/96
02/24/95
02/01/94

1020.00
700.00
727.50
860.00
62.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/01/06
02/02/05
02/02/04
02/12/03
01/31/02
02/13/01
02/25/00
02/26/99
01/30/98
02/03/97

-252.50
-272.50
-102.50
-185.00
-82.50
-347.50
-647.50
-2150.00
-132.50
-255.00

02/07/94

-500.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

128

HISTORICAL SOYBEAN COMPLEX REPORT

Buy 3 Sep Soybean Oil(CBOT) / Sell 2 Sep Soybean Meal(CBOT)


Enter on approximately 02/18 - Exit on approximately 02/28
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/19/08
02/20/07
02/21/06
02/18/05
02/18/04
02/18/03
02/19/02
02/20/01
02/18/00
02/18/99
02/18/98
02/18/97
02/20/96
02/21/95
02/18/94

Percentage Correct

ENTRY
PRICE
38620
7026
6234
1956
6600
3792
60
-3510
-5030
9364
11730
-2162
-636
12488
10750
80

EXIT
DATE
02/28/08
02/28/07
02/28/06
02/28/05
02/27/04
02/28/03
02/28/02
02/28/01
02/28/00
02/26/99
02/27/98
02/28/97
02/28/96
02/28/95
02/28/94

EXIT
PRICE

PROFIT
AMOUNT

49420
8870
7990
4476
6750
4360
-1152
-810
-4134
7102
11840
-1872
-2962
12720
11902

10800.00
1844.00
1756.00
2520.00
150.00
568.00
-1212.00
2700.00
896.00
-2262.00
110.00
290.00
-2326.00
232.00
1152.00

BEST
EQUITY
DATE
02/28/08
02/26/07
02/28/06
02/28/05
02/23/04
02/20/03

10800.00
2504.00
1756.00
2520.00
650.00
724.00

02/28/01
02/23/00
02/23/99
02/20/98
02/28/97

2700.00
1366.00
286.00
260.00
290.00

02/24/95
02/28/94

772.00
1152.00

1918.17
-1933.33
1147.87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/25/04
02/25/03
02/27/02

-300.00
-392.00
-1644.00

02/26/99
02/19/98
02/25/97
02/28/96
02/23/95

-2262.00
-250.00
-758.00
-2326.00
-196.00

12
3
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Sell 11 Mar Soybean Meal(CBOT) / Sell 9 Mar Soybean Oil(CBOT) /


Buy 10 Mar Soybeans(CBOT)
Enter on approximately 02/20 - Exit on approximately 02/28
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/20/08
02/20/07
02/21/06
02/22/05
02/20/04
02/20/03
02/20/02
02/20/01
02/22/00
02/22/99
02/20/98
02/20/97
02/20/96
02/21/95
02/22/94

Percentage Correct

ENTRY
PRICE
-62.61
-62.91
-62.49
-48.35
-63.67
-39.03
-63.53
-66.08
-29.74
-17.37
-30.54
-48.79
-46.32
-84.52
-64.16
80

EXIT
DATE
02/28/08
02/28/07
02/28/06
02/28/05
02/27/04
02/28/03
02/28/02
02/28/01
02/28/00
02/26/99
02/27/98
02/28/97
02/28/96
02/28/95
02/28/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-54.15
-53.18
-62.48
-42.52
-49.37
-42.85
-68.93
-59.32
-28.82
-11.37
-30.32
-46.10
-40.26
-84.24
-64.26

PROFIT

PROFIT
AMOUNT

8.46
9.73
0.01
5.83
14.30
-3.82
-5.40
6.76
0.92
6.00
0.22
2.69
6.06
0.28
-0.10

4807.00
4921.00
59.00
3062.00
7276.00
-1902.00
-2769.00
3464.00
411.00
2873.00
95.00
1366.00
2986.00
145.00
-19.00

2622.08
-1563.33
1785.00

2622.08
-1563.33
1785.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/28/08
02/28/07
02/24/06
02/24/05
02/27/04
02/24/03

8.46
9.73
1.08
8.28
14.30
0.67

02/27/01
02/25/00
02/25/99
02/25/98
02/26/97
02/28/96
02/22/95
02/23/94

6.82
2.81
8.88
4.69
6.11
6.06
1.38
2.53
Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

02/23/06

-0.68

02/26/03
02/28/02
02/21/01

-7.07
-5.40
-1.34

02/24/95
02/28/94

-2.74
-0.10
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

129

Product & Crush Strategy Tables

CONT
YEAR

Buy 11 Oct Soybean Meal(CBOT) / Buy 9 Oct Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)
Enter on approximately 02/28 - Exit on approximately 03/16
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/28/08
02/28/07
02/28/06
02/28/05
03/01/04
02/28/03
02/28/02
02/28/01
02/28/00
03/01/99
03/02/98
02/28/97
02/28/96
02/28/95
02/28/94

Percentage Correct

ENTRY
PRICE
88.17
54.21
51.10
45.07
81.30
42.98
53.24
53.37
26.06
14.69
50.36
62.19
57.32
59.99
64.80
93

EXIT
DATE
03/14/08
03/16/07
03/16/06
03/16/05
03/16/04
03/14/03
03/15/02
03/16/01
03/16/00
03/16/99
03/16/98
03/14/97
03/15/96
03/16/95
03/16/94

EXIT
PRICE
98.97
59.11
55.39
50.57
85.30
48.70
55.37
58.07
27.32
19.26
46.01
64.79
63.58
63.18
65.40

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

10.80
4.90
4.29
5.50
4.00
5.72
2.13
4.70
1.26
4.57
-4.35
2.60
6.26
3.19
0.60

6040.00
2435.00
2193.00
2732.00
2070.00
2853.00
912.00
2341.00
499.00
2195.00
-2175.00
1229.00
3128.00
1561.00
282.00

2176.43
-2175.00
1886.33

2176.43
-2175.00
1886.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/04/08
03/02/07
03/02/06
03/15/05
03/05/04
03/14/03
03/15/02
03/15/01
03/13/00
03/16/99
03/04/98
03/10/97
03/15/96
03/14/95
03/02/94

17.33
7.70
5.58
6.68
5.33
5.72
2.13
5.20
3.44
4.57
0.84
3.03
6.26
4.90
1.67

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/12/08

-1.27

03/01/05
03/02/04
03/03/03
03/04/02

-0.09
-4.00
-1.76
-1.34

03/01/00
03/03/99
03/11/98
03/12/97
03/05/96
03/01/95
03/14/94

-1.52
-0.49
-6.90
-1.49
-0.67
-0.40
-2.27
14
1
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 11 Oct Soybean Meal(CBOT) / Buy 9 Oct Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)

Product & Crush Strategy Tables

Enter on approximately 02/28 - Exit on approximately 04/26


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

02/28/08
02/28/07
02/28/06
02/28/05
03/01/04
02/28/03
02/28/02
02/28/01
02/28/00
03/01/99
03/02/98
02/28/97
02/28/96
02/28/95
02/28/94

Percentage Correct

ENTRY
PRICE
88.17
54.21
51.10
45.07
81.30
42.98
53.24
53.37
26.06
14.69
50.36
62.19
57.32
59.99
64.80
100

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
04/25/08
04/26/07
04/26/06
04/26/05
04/26/04
04/25/03
04/26/02
04/26/01
04/26/00
04/26/99
04/24/98
04/25/97
04/26/96
04/26/95
04/26/94

EXIT
PRICE
92.50
59.45
61.96
49.05
87.08
49.28
61.33
59.64
28.25
18.99
54.02
87.40
69.01
63.79
72.77

PROFIT

PROFIT
AMOUNT

4.33
5.24
10.86
3.98
5.78
6.30
8.09
6.27
2.19
4.30
3.66
25.21
11.69
3.80
7.97

2972.00
2452.00
5328.00
2055.00
3128.00
3070.00
3943.00
3257.00
840.00
1977.00
1633.00
12569.00
5620.00
1919.00
4034.00

3653.13
0.00
3653.13

3653.13
0.00
3653.13

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/28/08
03/02/07
04/21/06
03/15/05
04/01/04
04/17/03
04/25/02
04/06/01
04/24/00
03/16/99
04/24/98
04/25/97
04/25/96
04/04/95
04/18/94

18.98
7.70
11.72
6.68
21.70
10.10
10.36
9.39
3.78
4.57
3.66
25.21
12.27
7.40
9.07
Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/19/08

-15.92

04/13/05
03/02/04
03/03/03
03/28/02

-0.68
-4.00
-1.76
-2.44

04/03/00
04/01/99
04/08/98
03/19/97
03/05/96
03/01/95
03/14/94

-4.17
-1.30
-8.63
-1.78
-0.67
-0.40
-2.27
15
0
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

130

HISTORICAL SOYBEAN COMPLEX REPORT

Buy 11 Oct Soybean Meal(CBOT) / Buy 9 Oct Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)
Enter on approximately 03/07 - Exit on approximately 04/19
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/07/08
03/07/07
03/07/06
03/07/05
03/08/04
03/07/03
03/07/02
03/07/01
03/07/00
03/08/99
03/09/98
03/07/97
03/07/96
03/07/95
03/07/94

Percentage Correct

ENTRY
PRICE
89.35
58.57
56.12
46.53
79.00
46.07
52.44
57.71
25.46
16.49
45.31
64.75
57.18
62.83
63.68
100

EXIT
DATE
04/18/08
04/19/07
04/19/06
04/19/05
04/19/04
04/17/03
04/19/02
04/19/01
04/19/00
04/19/99
04/17/98
04/18/97
04/19/96
04/19/95
04/19/94

EXIT
PRICE
89.60
58.60
58.77
49.15
90.74
53.08
62.30
61.01
25.63
17.18
46.50
86.28
64.98
64.09
73.59

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

0.25
0.03
2.65
2.62
11.74
7.01
9.86
3.30
0.17
0.69
1.19
21.53
7.80
1.26
9.91

290.00
-133.00
1348.00
1298.00
5949.00
3379.00
4873.00
1794.00
-153.00
232.00
471.00
10901.00
3683.00
782.00
5002.00

2647.73
0.00
2647.73

2647.73
0.00
2647.73

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/28/08
04/11/07
04/19/06
03/15/05
04/01/04
04/17/03
04/10/02
04/06/01
03/13/00
03/16/99
03/17/98
04/18/97
04/18/96
04/04/95
04/18/94

17.80
2.29
2.65
5.22
24.00
7.01
10.24
5.05
4.04
2.77
1.62
21.53
12.16
4.56
10.19

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/19/08
03/22/07
03/09/06
04/13/05

-17.10
-3.17
-3.00
-2.14

03/28/02
03/08/01
04/03/00
04/01/99
04/08/98
03/19/97

-1.64
-3.03
-3.57
-3.10
-3.58
-4.34

03/08/95
03/14/94

-0.86
-1.15
15
0
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 11 Sep Soybean Meal(CBOT) / Buy 9 Sep Soybean Oil(CBOT) /


Sell 10 Sep Soybeans(CBOT)
Enter on approximately 03/11 - Exit on approximately 04/26
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/11/08
03/12/07
03/13/06
03/11/05
03/11/04
03/11/03
03/11/02
03/12/01
03/13/00
03/11/99
03/11/98
03/11/97
03/11/96
03/13/95
03/11/94

Percentage Correct

ENTRY
PRICE
89.67
66.63
57.84
49.61
89.87
45.02
56.29
61.40
33.32
19.89
39.79
54.68
61.64
69.79
65.16
93

EXIT
DATE
04/25/08
04/26/07
04/26/06
04/26/05
04/26/04
04/25/03
04/26/02
04/26/01
04/26/00
04/26/99
04/24/98
04/25/97
04/26/96
04/26/95
04/26/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
93.68
69.47
68.00
50.28
124.82
47.79
63.54
64.91
32.77
24.36
47.10
77.22
69.09
69.93
71.83

PROFIT

PROFIT
AMOUNT

4.01
2.84
10.16
0.67
34.95
2.77
7.25
3.51
-0.55
4.47
7.31
22.54
7.45
0.14
6.67

2458.00
1271.00
4966.00
433.00
17606.00
1314.00
3622.00
1905.00
-441.00
2092.00
3470.00
11373.00
3430.00
214.00
3323.00

4105.50
-441.00
3802.40

4105.50
-441.00
3802.40

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/25/08
04/11/07
04/21/06
03/15/05
04/15/04
03/28/03
04/10/02
04/06/01
03/14/00
04/26/99
04/20/98
04/04/97
04/26/96
04/06/95
04/04/94

20.41
3.81
10.91
3.30
50.39
3.51
10.80
6.73
1.35
4.47
7.81
27.43
7.45
5.05
7.34
Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/19/08
03/14/07
03/30/06
03/31/05

-26.17
-2.45
-0.07
-9.16

03/13/03
03/28/02
03/14/01
04/12/00
04/01/99
04/03/98
03/12/97
03/20/96
04/19/95
03/14/94

-0.80
-2.24
-0.08
-4.94
-1.21
-1.43
-1.81
-2.75
-2.14
-1.05
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

131

Product & Crush Strategy Tables

CONT
YEAR

Buy 11 Dec Soybean Meal(CBOT) / Buy 9 Dec Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)
Enter on approximately 03/12 - Exit on approximately 03/27
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/12/08
03/12/07
03/13/06
03/14/05
03/12/04
03/12/03
03/12/02
03/12/01
03/13/00
03/12/99
03/12/98
03/12/97
03/12/96
03/13/95
03/14/94

Percentage Correct

ENTRY
PRICE
85.03
68.85
60.99
49.10
54.68
42.33
59.69
60.74
37.64
27.19
49.88
52.45
63.11
68.20
57.03
93

EXIT
DATE
03/27/08
03/27/07
03/27/06
03/24/05
03/26/04
03/27/03
03/27/02
03/27/01
03/27/00
03/26/99
03/27/98
03/27/97
03/27/96
03/27/95
03/25/94

EXIT
PRICE
97.20
69.80
62.34
49.95
65.20
44.34
60.68
65.17
33.27
27.26
50.59
58.42
65.64
70.28
62.52

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

12.17
0.95
1.35
0.85
10.52
2.01
0.99
4.43
-4.37
0.07
0.71
5.97
2.53
2.08
5.49

6573.00
383.00
768.00
518.00
5193.00
943.00
543.00
2225.00
-2285.00
-91.00
359.00
3058.00
1164.00
1119.00
2710.00

1818.93
-2285.00
1545.33

1818.93
-2285.00
1545.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/14/08
03/27/07
03/16/06
03/15/05
03/23/04
03/21/03
03/26/02
03/27/01
03/17/00
03/17/99
03/19/98
03/27/97
03/22/96
03/20/95
03/25/94

13.28
0.95
2.54
2.54
14.49
2.99
2.31
4.43
0.28
1.08
1.50
5.97
3.98
2.66
5.49

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/20/08
03/23/07

-13.60
-1.30

03/18/05
03/15/04

-3.44
-0.49

03/13/02

-1.18

03/24/00
03/18/99
03/25/98
03/19/97
03/14/96

-5.07
-2.83
-2.38
-0.29
-0.65

14
1
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 11 Dec Soybean Meal(CBOT) / Buy 9 Dec Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)

Product & Crush Strategy Tables

Enter on approximately 03/12 - Exit on approximately 05/06


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/12/08
03/12/07
03/13/06
03/14/05
03/12/04
03/12/03
03/12/02
03/12/01
03/13/00
03/12/99
03/12/98
03/12/97
03/12/96
03/13/95
03/14/94

Percentage Correct

ENTRY
PRICE
85.03
68.85
60.99
49.10
54.68
42.33
59.69
60.74
37.64
27.19
49.88
52.45
63.11
68.20
57.03
100

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
05/06/08
05/04/07
05/05/06
05/06/05
05/06/04
05/06/03
05/06/02
05/04/01
05/05/00
05/06/99
05/06/98
05/06/97
05/06/96
05/05/95
05/06/94

EXIT
PRICE
90.07
68.99
69.51
52.60
65.09
44.42
62.71
66.12
40.04
30.93
51.40
67.98
69.40
70.66
63.31

PROFIT

PROFIT
AMOUNT

5.04
0.14
8.52
3.50
10.41
2.09
3.02
5.38
2.40
3.74
1.52
15.53
6.29
2.46
6.28

3015.00
-135.00
4097.00
1738.00
5323.00
934.00
1583.00
2879.00
1055.00
1793.00
527.00
7841.00
2800.00
1361.00
3247.00

2537.20
0.00
2537.20

2537.20
0.00
2537.20

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/28/08
04/11/07
05/01/06
05/06/05
04/01/04
04/17/03
04/10/02
05/03/01
05/05/00
05/06/99
04/24/98
04/30/97
04/25/96
04/06/95
05/05/94

15.30
4.55
11.18
3.50
14.99
4.92
5.96
7.05
2.40
3.74
5.90
19.06
8.79
4.41
8.72
Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/20/08
03/23/07
04/12/06
04/12/05
03/15/04
04/24/03
03/28/02

-13.60
-1.30
-0.05
-3.95
-0.49
-0.82
-4.60

04/12/00
04/01/99
04/13/98
03/19/97
03/14/96
03/31/95

-5.47
-5.00
-3.86
-0.29
-0.65
-1.30

15
0
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

132

HISTORICAL SOYBEAN COMPLEX REPORT

Buy 11 May Soybean Meal(CBOT) / Buy 9 May Soybean Oil(CBOT) /


Sell 10 May Soybeans(CBOT)
Enter on approximately 03/16 - Exit on approximately 03/29
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

03/17/08
03/16/07
03/16/06
03/16/05
03/16/04
03/17/03
03/18/02
03/16/01
03/16/00
03/16/99
03/16/98
03/17/97
03/18/96
03/16/95
03/16/94

Percentage Correct

ENTRY
PRICE
53.77
64.57
62.30
27.53
44.89
39.06
61.34
64.87
34.84
16.95
22.44
33.55
46.61
72.58
58.67
87

EXIT
DATE
03/28/08
03/29/07
03/29/06
03/29/05
03/29/04
03/28/03
03/28/02
03/29/01
03/29/00
03/29/99
03/27/98
03/27/97
03/29/96
03/29/95
03/29/94

EXIT
PRICE
90.59
65.34
63.31
38.09
46.19
37.98
57.47
72.14
35.63
20.01
22.91
35.56
52.55
76.26
59.25

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

36.82
0.77
1.01
10.56
1.30
-1.08
-3.87
7.27
0.79
3.06
0.47
2.01
5.94
3.68
0.58

18768.00
165.00
551.00
5408.00
668.00
-603.00
-1941.00
3644.00
310.00
1460.00
216.00
1010.00
2895.00
1863.00
317.00

2867.31
-1272.00
2315.40

2867.31
-1272.00
2315.40

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

03/25/08
03/28/07
03/29/06
03/24/05
03/26/04
03/21/03
03/25/02
03/29/01
03/23/00
03/29/99
03/26/98
03/20/97
03/29/96
03/27/95
03/25/94

45.36
1.45
1.01
10.65
6.36
0.41
3.28
7.27
2.18
3.06
1.64
3.58
5.94
7.70
1.05

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

03/19/08
03/26/07
03/21/06

-6.83
-1.04
-3.40

03/19/04
03/26/03
03/28/02

-2.44
-5.15
-3.87

03/27/00

-0.50

03/25/98
03/18/97
03/27/96

-1.45
-0.72
-1.32

03/17/94

-0.41
13
2
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 3 Sep Soybean Oil(CBOT) / Sell 2 Sep Soybean Meal(CBOT)


Enter on approximately 04/08 - Exit on approximately 04/23
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/08/08
04/09/07
04/10/06
04/08/05
04/08/04
04/08/03
04/08/02
04/09/01
04/10/00
04/08/99
04/08/98
04/08/97
04/08/96
04/10/95
04/08/94

Percentage Correct

ENTRY
PRICE
39170
15694
7434
2784
-1314
6846
158
-490
-930
6900
15780
-6154
-2384
9910
10720
80

EXIT
DATE
04/23/08
04/23/07
04/21/06
04/22/05
04/23/04
04/23/03
04/23/02
04/23/01
04/20/00
04/23/99
04/23/98
04/23/97
04/23/96
04/21/95
04/22/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
46320
18334
10954
1926
600
5170
210
-1256
590
9638
18810
-3308
-2280
10624
11258

PROFIT
AMOUNT
7150.00
2640.00
3520.00
-858.00
1914.00
-1676.00
52.00
-766.00
1520.00
2738.00
3030.00
2846.00
104.00
714.00
538.00
2230.50
-1100.00
1564.40

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/15/08
04/13/07
04/21/06
04/15/05
04/20/04

8834.00
3342.00
3520.00
506.00
2218.00

04/11/02

484.00

04/19/00
04/22/99
04/22/98
04/21/97
04/10/96
04/21/95
04/20/94

1592.00
3140.00
3724.00
2894.00
1022.00
714.00
1136.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/17/06
04/22/05

-1220.00
-858.00

04/22/03
04/16/02
04/20/01

-2430.00
-204.00
-970.00

04/09/99

-92.00

04/10/97

-376.00

04/12/95

-132.00

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

133

Product & Crush Strategy Tables

CONT
YEAR

Buy 11 Dec Soybean Meal(CBOT) / Buy 9 Dec Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)
Enter on approximately 04/12 - Exit on approximately 04/26
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/14/08
04/12/07
04/12/06
04/12/05
04/12/04
04/14/03
04/12/02
04/12/01
04/12/00
04/12/99
04/13/98
04/14/97
04/12/96
04/12/95
04/12/94

Percentage Correct

ENTRY
PRICE
84.59
69.98
60.94
45.15
62.66
43.54
62.73
64.12
32.17
24.72
46.02
61.46
68.82
69.87
60.57
93

EXIT
DATE
04/25/08
04/26/07
04/26/06
04/26/05
04/26/04
04/25/03
04/26/02
04/26/01
04/26/00
04/26/99
04/24/98
04/25/97
04/26/96
04/26/95
04/26/94

EXIT
PRICE
92.72
71.44
68.67
48.61
62.99
42.68
63.75
64.59
35.62
29.11
55.78
69.58
71.10
70.17
62.87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

8.13
1.46
7.73
3.46
0.33
-0.86
1.02
0.47
3.45
4.39
9.76
8.12
2.28
0.30
2.30

4342.00
773.00
3651.00
1724.00
211.00
-390.00
523.00
282.00
1709.00
2084.00
4724.00
3973.00
1099.00
170.00
1085.00

1882.14
-390.00
1730.67

1882.14
-390.00
1730.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

04/23/08
04/19/07
04/21/06
04/25/05
04/23/04
04/17/03
04/19/02
04/19/01
04/24/00
04/26/99
04/24/98
04/21/97
04/25/96
04/17/95
04/18/94

12.17
1.82
8.59
6.88
5.65
3.71
2.32
0.74
5.70
4.39
9.76
9.14
3.08
2.13
2.63

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

04/24/07

-1.42

04/24/03
04/23/02
04/17/01

-2.03
-1.66
-2.44

04/19/96
04/24/95

-1.53
-1.54

14
1
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Sep Soybeans(CBOT) / Sell Sep Soybean Oil(CBOT)

Product & Crush Strategy Tables

Enter on approximately 04/27 - Exit on approximately 05/18


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/28/08
04/27/07
04/27/06
04/27/05
04/27/04
04/28/03
04/29/02
04/27/01
04/27/00
04/27/99
04/27/98
04/28/97
04/29/96
04/27/95
04/28/94

Percentage Correct

ENTRY
PRICE
26523
17326
14425
17801
21985
15274
12818
11914
16424
12579
14202
22625
22036
14093
15731
93

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
05/16/08
05/18/07
05/18/06
05/18/05
05/18/04
05/16/03
05/17/02
05/18/01
05/18/00
05/18/99
05/18/98
05/16/97
05/17/96
05/18/95
05/18/94

EXIT
PRICE
30463
18954
14961
18054
20417
16296
13264
12738
17116
12913
14380
23051
23200
14468
15790

PROFIT
AMOUNT
3939.50
1628.00
536.00
253.00
-1568.00
1022.00
446.50
823.50
691.50
333.50
178.50
426.00
1163.50
375.00
59.00
848.25
-1568.00
687.17

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

05/16/08
05/16/07
05/09/06
05/18/05
05/05/04
05/05/03
05/15/02
05/18/01
05/12/00
05/18/99
05/06/98
05/07/97
05/16/96
05/18/95
05/18/94

3939.50
1898.00
1011.00
253.00
2200.00
1191.50
490.00
823.50
1435.50
333.50
356.50
607.50
1541.50
375.00
59.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/13/05
05/18/04

-817.50
-1568.00

05/03/02

-54.50

04/28/00
05/07/99
05/11/98

-196.00
-81.50
-567.00

05/09/95
05/13/94

-105.00
-796.50
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

134

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Oct Soybean Meal(CBOT) / Sell Oct Soybean Oil(CBOT)


Enter on approximately 04/27 - Exit on approximately 05/19
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/28/08
04/27/07
04/27/06
04/27/05
04/27/04
04/28/03
04/29/02
04/27/01
04/27/00
04/27/99
04/27/98
04/28/97
04/29/96
04/27/95
04/28/94

Percentage Correct

ENTRY
PRICE

EXIT
DATE

-6250
50
1792
5928
6416
3336
5012
5000
6160
1332
-782
7312
7434
2206
2696
93

05/19/08
05/18/07
05/19/06
05/19/05
05/19/04
05/19/03
05/17/02
05/18/01
05/19/00
05/19/99
05/19/98
05/19/97
05/17/96
05/19/95
05/19/94

EXIT
PRICE
-3746
216
2356
6140
7190
3502
5100
6076
7580
2580
-746
9240
7908
2640
1700

PROFIT
AMOUNT
2504.00
166.00
564.00
212.00
774.00
166.00
88.00
1076.00
1420.00
1248.00
36.00
1928.00
474.00
434.00
-996.00

BEST
EQUITY
DATE
05/15/08
05/16/07
05/09/06
05/18/05
05/05/04
05/05/03
05/15/02
05/18/01
05/12/00
05/17/99
04/28/98
05/16/97
05/15/96
05/17/95

792.14
-996.00
672.93

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT
2616.00
576.00
1050.00
226.00
2316.00
1074.00
218.00
1076.00
1778.00
1432.00
222.00
2078.00
698.00
564.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/09/08
05/11/07

-4.00
-256.00

05/09/05
04/29/04
05/15/03
05/10/02

-828.00
-316.00
-324.00
-188.00

04/28/00

-162.00

05/11/98

-1074.00

05/02/96
05/01/95
05/16/94

-314.00
-518.00
-1258.00
14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 2 Jul Soybean Meal(CBOT) / Sell 3 Jul Soybean Oil(CBOT)


Enter on approximately 04/27 - Exit on approximately 06/27
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/28/08
04/27/07
04/27/06
04/27/05
04/27/04
04/28/03
04/29/02
04/27/01
04/27/00
04/27/99
04/27/98
04/28/97
04/29/96
04/27/95
04/28/94

Percentage Correct

ENTRY
PRICE
-38164
-20570
-11790
-1706
290
-2266
2008
2862
2178
-9604
-20154
10038
808
-12166
-13088
93

EXIT
DATE
06/27/08
06/27/07
06/27/06
06/27/05
06/25/04
06/27/03
06/27/02
06/27/01
06/27/00
06/25/99
06/26/98
06/27/97
06/27/96
06/27/95
06/27/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-32446
-19348
-10632
-1056
8968
-438
2894
6230
5316
-3364
-12534
12480
3428
-14420
-9024

PROFIT
AMOUNT
5718.00
1222.00
1158.00
650.00
8678.00
1828.00
886.00
3368.00
3138.00
6240.00
7620.00
2442.00
2620.00
-2254.00
4064.00
3545.14
-2254.00
3158.53

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/19/08
06/13/07
06/19/06
06/14/05
06/25/04
05/02/03
06/27/02
05/25/01
05/31/00
06/18/99
06/24/98
05/19/97
06/26/96
05/17/95
06/15/94

6648.00
3804.00
3810.00
4036.00
8678.00
2326.00
886.00
4224.00
4596.00
7988.00
9534.00
5482.00
2628.00
1870.00
4170.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/21/08
05/11/07

-9186.00
-972.00

05/09/05

-2122.00

05/15/03
05/28/02

-1514.00
-2036.00

04/28/00

-388.00

05/11/98

-1778.00

05/29/96
06/21/95
05/18/94

-1540.00
-3180.00
-2918.00
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

135

Product & Crush Strategy Tables

CONT
YEAR

Buy Jul Soybean Meal(CBOT) / Sell Jul Soybean Oil(CBOT)


Enter on approximately 04/29 - Exit on approximately 06/24
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/29/08
04/30/07
05/01/06
04/29/05
04/29/04
04/29/03
04/29/02
04/30/01
05/01/00
04/29/99
04/29/98
04/29/97
04/29/96
05/01/95
04/29/94

Percentage Correct

ENTRY
PRICE
-1392
-382
2372
5754
10458
6068
5936
6146
6986
1544
-1216
12714
8546
880
1760
100

EXIT
DATE
06/24/08
06/22/07
06/23/06
06/24/05
06/24/04
06/24/03
06/24/02
06/22/01
06/23/00
06/24/99
06/24/98
06/24/97
06/24/96
06/23/95
06/24/94

EXIT
PRICE
2270
902
2878
7430
12960
6104
6088
7406
7342
3446
2460
13652
9116
922
3312

PROFIT
AMOUNT
3662.00
1284.00
506.00
1676.00
2502.00
36.00
152.00
1260.00
356.00
1902.00
3676.00
938.00
570.00
42.00
1552.00

BEST
EQUITY
DATE
06/19/08
06/20/07
06/02/06
06/14/05
05/11/04
05/02/03
05/16/02
06/08/01
05/12/00
06/18/99
06/24/98
05/19/97
06/21/96
05/23/95
06/15/94

1340.93

Average Profit on Winning Trades

BEST
EQUITY
AMOUNT
4870.00
2516.00
910.00
2386.00
2854.00
502.00
416.00
1910.00
1276.00
2664.00
3676.00
2186.00
672.00
1498.00
2124.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/21/08
05/11/07
05/23/06
05/09/05
05/28/04
05/15/03
05/28/02

-3308.00
-72.00
-450.00
-600.00
-1808.00
-848.00
-472.00

06/20/00
05/04/99
05/11/98
06/09/97
05/29/96
06/21/95
05/16/94

-42.00
-100.00
-888.00
-172.00
-920.00
-192.00
-650.00
15
0
15

Winners

Average Loss on Trades

Losers

1340.93

Average Net Profit Per Trade

Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 2 Dec Soybean Meal(CBOT) / Sell 3 Dec Soybean Oil(CBOT)

Product & Crush Strategy Tables

Enter on approximately 04/30 - Exit on approximately 06/10


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

04/30/08
04/30/07
05/01/06
05/02/05
04/30/04
04/30/03
04/30/02
04/30/01
05/01/00
04/30/99
04/30/98
04/30/97
04/30/96
05/01/95
05/02/94

Percentage Correct

ENTRY
PRICE
-46512
-20964
-11598
-1810
-2834
-5046
-444
580
1588
-8394
-17914
-2414
-2714
-11280
-9984
93

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
06/10/08
06/08/07
06/09/06
06/10/05
06/10/04
06/10/03
06/10/02
06/08/01
06/09/00
06/10/99
06/10/98
06/10/97
06/10/96
06/09/95
06/10/94

EXIT
PRICE
-43092
-19516
-10214
888
-2788
-3964
-2350
2574
3236
-3644
-17316
186
-2442
-10314
-9274

PROFIT
AMOUNT
3420.00
1448.00
1384.00
2698.00
46.00
1082.00
-1906.00
1994.00
1648.00
4750.00
598.00
2600.00
272.00
966.00
710.00
1686.86
-1906.00
1447.33

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/04/08
05/07/07
06/08/06
06/10/05
05/05/04
05/05/03
05/06/02
05/16/01
05/12/00
06/09/99
06/01/98
05/20/97
05/15/96
05/17/95
06/06/94

3642.00
1520.00
2242.00
2698.00
4050.00
1356.00
376.00
2176.00
3126.00
4760.00
2984.00
4750.00
1934.00
2738.00
1320.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/23/08
05/11/07
05/11/06
05/09/05

-5196.00
-776.00
-882.00
-2112.00

05/15/03
06/06/02

-2582.00
-3436.00

05/04/99
05/12/98

-108.00
-2564.00

05/02/96

-536.00

05/18/94

-3226.00
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

136

HISTORICAL SOYBEAN COMPLEX REPORT

Sell 11 Dec Soybean Meal(CBOT) / Sell 9 Dec Soybean Oil(CBOT) /


Buy 10 Nov Soybeans(CBOT)
Enter on approximately 05/22 - Exit on approximately 06/07
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/22/08
05/22/07
05/22/06
05/23/05
05/24/04
05/22/03
05/22/02
05/22/01
05/22/00
05/24/99
05/22/98
05/22/97
05/22/96
05/22/95
05/23/94

Percentage Correct

ENTRY
PRICE
-87.27
-66.99
-72.26
-46.97
-69.08
-49.64
-66.17
-67.81
-39.16
-28.85
-43.81
-69.78
-65.07
-81.27
-66.74
87

EXIT
DATE
06/06/08
06/07/07
06/07/06
06/07/05
06/07/04
06/06/03
06/07/02
06/07/01
06/07/00
06/07/99
06/05/98
06/06/97
06/07/96
06/07/95
06/07/94

EXIT
PRICE
-67.83
-61.70
-71.69
-45.12
-58.72
-48.09
-68.02
-67.15
-40.71
-28.25
-34.19
-67.30
-63.50
-80.44
-63.85

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

19.44
5.29
0.57
1.85
10.36
1.55
-1.85
0.66
-1.55
0.60
9.62
2.48
1.57
0.83
2.89

9997.00
2797.00
292.00
994.00
5228.00
745.00
-869.00
381.00
-861.00
289.00
4689.00
1241.00
726.00
447.00
1178.00

2231.08
-865.00
1818.27

2231.08
-865.00
1818.27

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/05/08
06/05/07
05/30/06
05/24/05
06/07/04
05/27/03

34.60
6.31
1.32
2.61
10.36
1.85

06/07/01
05/23/00
06/02/99
06/05/98
06/04/97
05/29/96
05/31/95
05/25/94

0.66
0.84
1.23
9.62
4.61
4.50
5.15
5.19

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/23/07
06/06/06
05/27/05
06/01/04
05/30/03
05/31/02
05/31/01
05/31/00
05/28/99

-0.66
-2.51
-2.45
-2.17
-1.71
-3.54
-4.84
-3.49
-1.06

05/28/97

-11.22

05/26/95
06/06/94

-0.12
-0.98
13
2
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Jul Soybeans(CBOT) / Sell Jul Soybean Oil(CBOT)


Enter on approximately 05/27 - Exit on approximately 06/18
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/27/08
05/29/07
05/30/06
05/27/05
05/27/04
05/27/03
05/28/02
05/29/01
05/30/00
05/27/99
05/27/98
05/27/97
05/28/96
05/30/95
05/27/94

Percentage Correct

ENTRY
PRICE
30068
18767
13935
19432
24552
18229
13907
13119
16334
12255
15059
27589
23767
13328
16948
87

EXIT
DATE
06/18/08
06/18/07
06/16/06
06/17/05
06/18/04
06/18/03
06/18/02
06/18/01
06/16/00
06/18/99
06/18/98
06/18/97
06/18/96
06/16/95
06/17/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
38524
21109
15097
21152
27112
17884
13934
14236
15368
13706
16358
27783
23956
13676
18672

PROFIT
AMOUNT
8456.50
2341.50
1161.50
1720.50
2560.00
-345.00
27.50
1117.50
-966.50
1451.00
1299.50
194.50
189.00
348.50
1724.00
1737.81
-655.75
1418.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/18/08
06/18/07
06/02/06
06/17/05
06/15/04
06/10/03
06/05/02
06/13/01
06/06/00
06/18/99
06/18/98
05/30/97
06/18/96
06/15/95
06/17/94

8456.50
2341.50
1257.00
1720.50
3244.00
84.00
549.00
1317.50
327.00
1451.00
1299.50
2168.50
189.00
511.00
1724.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/29/08

-110.00

05/31/06

-56.00

06/03/04
06/03/03

-992.00
-730.50

05/30/01
06/16/00

-123.50
-966.50

06/11/98
06/09/97
05/29/96

-209.00
-976.50
-1001.00

06/07/94

-237.00
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

137

Product & Crush Strategy Tables

CONT
YEAR

Buy 2 Aug Soybean Meal(CBOT) / Sell 3 Aug Soybean Oil(CBOT)


Enter on approximately 05/28 - Exit on approximately 06/15
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

05/28/08
05/29/07
05/30/06
05/31/05
05/28/04
05/28/03
05/28/02
05/29/01
05/30/00
05/28/99
05/28/98
05/28/97
05/28/96
05/30/95
05/31/94

Percentage Correct

ENTRY
PRICE
-44204
-20576
-11502
1072
-190
-2132
-808
4576
5896
-6216
-16350
8868
-10
-12764
-10474
93

EXIT
DATE
06/13/08
06/15/07
06/15/06
06/15/05
06/15/04
06/13/03
06/14/02
06/15/01
06/15/00
06/15/99
06/15/98
06/13/97
06/14/96
06/15/95
06/15/94

EXIT
PRICE
-38196
-17676
-8942
1124
5106
-1978
-484
5882
3998
-3422
-15160
9070
824
-11930
-8782

PROFIT
AMOUNT
6008.00
2900.00
2560.00
52.00
5296.00
154.00
324.00
1306.00
-1898.00
2794.00
1190.00
202.00
834.00
834.00
1692.00

BEST
EQUITY
DATE
06/04/08
06/13/07
06/08/06
06/14/05
06/15/04
06/11/03
06/13/02
06/15/01
05/31/00
06/15/99
06/01/98
05/30/97
06/04/96
06/12/95
06/15/94

1867.57
-1898.00
1616.53

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT
7128.00
3644.00
2932.00
1326.00
5296.00
1158.00
1536.00
1306.00
276.00
2794.00
1330.00
1964.00
882.00
1810.00
1692.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/31/07

-368.00

06/01/05

-336.00

06/04/03
06/06/02
06/01/01
06/15/00

-418.00
-166.00
-600.00
-1898.00

06/10/98
06/09/97
05/29/96
06/07/95
06/02/94

-1198.00
-1540.00
-1044.00
-58.00
-932.00
14
1
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Jan Soybean Meal(CBOT) / Sell Jan Soybean Oil(CBOT)

Product & Crush Strategy Tables

Enter on approximately 05/28 - Exit on approximately 06/18


CONT
YEAR

ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

05/28/08
05/29/07
05/30/06
05/31/05
05/28/04
05/28/03
05/28/02
05/29/01
05/30/00
05/28/99
05/28/98
05/28/97
05/28/96
05/30/95
05/31/94

Percentage Correct

ENTRY
PRICE
-5324
158
1780
7442
6220
3962
3890
5418
6946
2510
118
6760
7450
2280
3670
93

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
06/18/08
06/18/07
06/16/06
06/17/05
06/18/04
06/18/03
06/18/02
06/18/01
06/16/00
06/18/99
06/18/98
06/18/97
06/18/96
06/16/95
06/17/94

EXIT
PRICE
-788
1932
3108
7830
6300
3988
4156
5966
5522
4006
748
6820
7500
2798
4128

PROFIT
AMOUNT
4536.00
1774.00
1328.00
388.00
80.00
26.00
266.00
548.00
-1424.00
1496.00
630.00
60.00
50.00
518.00
458.00
868.43
-1424.00
715.60

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/18/08
06/18/07
06/16/06
06/14/05
06/01/04
06/11/03
06/13/02
06/12/01
06/06/00
06/18/99
06/17/98
05/30/97
06/18/96
06/12/95
06/15/94

4536.00
1774.00
1328.00
656.00
1300.00
908.00
452.00
596.00
142.00
1496.00
728.00
644.00
50.00
850.00
510.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

05/31/07

-86.00

06/02/05
06/14/04
06/02/03
06/05/02
05/30/01
06/16/00

-530.00
-472.00
-52.00
-268.00
-220.00
-1424.00

06/10/98

-772.00

06/12/96

-760.00

06/07/94

-498.00
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

138

HISTORICAL SOYBEAN COMPLEX REPORT

Buy 2 Jul Soybean Meal(CBOT) / Sell 3 Jul Soybean Oil(CBOT)


Enter on approximately 06/03 - Exit on approximately 06/13
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/03/08
06/04/07
06/05/06
06/03/05
06/03/04
06/03/03
06/03/02
06/04/01
06/05/00
06/03/99
06/03/98
06/03/97
06/03/96
06/05/95
06/03/94

Percentage Correct

ENTRY
PRICE
-40472
-20270
-8760
1730
680
-1762
564
5940
6324
-4254
-15678
13690
326
-12326
-10504
100

EXIT
DATE
06/13/08
06/13/07
06/13/06
06/13/05
06/10/04
06/13/03
06/13/02
06/13/01
06/13/00
06/11/99
06/12/98
06/13/97
06/13/96
06/13/95
06/13/94

EXIT
PRICE

PROFIT
AMOUNT

-37302
-16766
-8666
1962
4166
-1726
1652
6768
6362
-3902
-15608
14226
594
-12146
-9820

3170.00
3504.00
94.00
232.00
3486.00
36.00
1088.00
828.00
38.00
352.00
70.00
536.00
268.00
180.00
684.00

BEST
EQUITY
DATE
06/04/08
06/13/07
06/08/06
06/13/05
06/10/04
06/11/03
06/13/02
06/08/01
06/06/00
06/09/99
06/05/98
06/13/97
06/04/96
06/12/95
06/13/94

971.07

Average Profit on Winning Trades

BEST
EQUITY
AMOUNT
3626.00
3504.00
410.00
232.00
3486.00
982.00
1088.00
1118.00
244.00
998.00
466.00
536.00
1030.00
826.00
684.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

06/09/08
06/05/07
06/09/06
06/08/05

-1068.00
-296.00
-668.00
-874.00

06/04/03
06/06/02

-516.00
-418.00

06/12/00

-604.00

06/10/98
06/09/97
06/12/96
06/07/95
06/09/94

-906.00
-2544.00
-436.00
-1164.00
-392.00
15
0
15

Winners

Average Loss on Trades

Losers

971.07

Average Net Profit Per Trade

Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 11 Aug Soybean Meal(CBOT) / Buy 9 Aug Soybean Oil(CBOT) /


Sell 10 Aug Soybeans(CBOT)
Enter on approximately 06/07 - Exit on approximately 06/24
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

06/09/08
06/07/07
06/07/06
06/07/05
06/07/04
06/09/03
06/07/02
06/07/01
06/07/00
06/07/99
06/08/98
06/09/97
06/07/96
06/07/95
06/07/94

Percentage Correct

ENTRY
PRICE
75.03
62.69
75.17
48.14
72.61
36.89
65.06
71.97
43.62
20.76
16.09
31.06
42.37
78.60
59.57
87

EXIT
DATE
06/24/08
06/22/07
06/23/06
06/24/05
06/24/04
06/24/03
06/24/02
06/22/01
06/23/00
06/24/99
06/24/98
06/24/97
06/24/96
06/23/95
06/24/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
71.20
63.40
77.57
52.33
103.72
39.44
65.10
68.98
47.57
25.74
17.59
36.82
43.44
82.79
59.59

PROFIT

PROFIT
AMOUNT

-3.83
0.71
2.40
4.19
31.11
2.55
0.04
-2.99
3.95
4.98
1.50
5.76
1.07
4.19
0.02

-1795.00
515.00
1233.00
1796.00
15514.00
1249.00
56.00
-1478.00
1995.00
2535.00
733.00
2934.00
612.00
2002.00
46.00

2401.54
-1636.50
1863.13

2401.54
-1636.50
1863.13

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

06/16/08
06/14/07
06/23/06
06/15/05
06/24/04
06/24/03
06/19/02
06/11/01
06/21/00
06/24/99
06/11/98
06/16/97
06/24/96
06/23/95
06/08/94

4.58
2.00
2.40
6.78
31.11
2.55
2.28
1.88
6.31
4.98
4.86
6.22
1.07
4.19
1.56
Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

06/23/08
06/20/07
06/20/06

-9.24
-1.51
-5.99

06/15/04
06/18/03
06/11/02
06/19/01

-2.24
-1.83
-0.98
-6.61

06/09/99
06/23/98

-1.10
-1.42

06/13/96
06/15/95
06/20/94

-5.88
-1.66
-4.34
13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

139

Product & Crush Strategy Tables

CONT
YEAR

Buy Dec Soybean Oil(CBOT) / Sell Nov Soybeans(CBOT)


Enter on approximately 07/01 - Exit on approximately 08/07
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/01/08
07/02/07
07/03/06
07/01/05
07/01/04
07/01/03
07/01/02
07/02/01
07/03/00
07/01/99
07/01/98
07/01/97
07/01/96
07/03/95
07/01/94

Percentage Correct

ENTRY
PRICE
-39472
-22094
-15101
-19558
-18705
-14720
-14562
-13834
-13715
-12612
-14655
-16329
-21958
-14535
-15422
87

EXIT
DATE
08/07/08
08/07/07
08/07/06
08/05/05
08/06/04
08/07/03
08/07/02
08/07/01
08/07/00
08/06/99
08/07/98
08/07/97
08/07/96
08/07/95
08/05/94

EXIT
PRICE
-30030
-20512
-12936
-19098
-15404
-14279
-14345
-13450
-12846
-13950
-12686
-18093
-21953
-14379
-13595

PROFIT
AMOUNT
9442.00
1582.00
2164.50
460.00
3301.50
441.00
216.50
383.50
869.50
-1338.50
1969.50
-1764.00
5.00
156.00
1827.00

BEST
EQUITY
DATE
08/06/08
07/30/07
08/07/06
07/22/05
08/06/04
07/18/03
07/29/02
08/03/01
07/17/00
07/09/99
08/05/98
07/07/97
07/05/96
07/07/95
08/05/94

1755.23
-1551.25
1314.37

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT
9932.00
2800.00
2164.50
463.00
3301.50
1002.00
1195.50
634.50
1004.00
1642.50
2016.50
406.50
799.50
303.00
1827.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/11/08
07/13/07

-716.00
-1938.00

07/15/05
07/14/04
07/02/03
07/22/02
07/12/01
07/05/00
08/04/99
07/17/98
08/01/97
07/15/96
07/17/95

-1537.00
-523.50
-84.00
-864.50
-1039.50
-39.00
-1643.00
-479.00
-2802.00
-2148.00
-1391.00

13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Sep Soybean Oil(CBOT) / Sell Sep Soybeans(CBOT)

Product & Crush Strategy Tables

Enter on approximately 07/13 - Exit on approximately 08/07


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

Percentage Correct

ENTRY
PRICE
-39935
-23583
-13912
-20526
-17567
-15013
-15381
-15118
-13296
-11739
-15089
-20164
-25165
-14490
-15115
87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
08/07/08
08/07/07
08/07/06
08/05/05
08/06/04
08/07/03
08/07/02
08/07/01
08/07/00
08/06/99
08/07/98
08/07/97
08/07/96
08/07/95
08/05/94

EXIT
PRICE
-30363
-20180
-12577
-18874
-14981
-14239
-15478
-14070
-12743
-13944
-12682
-19956
-22764
-13848
-13565

PROFIT
AMOUNT
9572.00
3402.50
1335.00
1652.00
2586.50
774.50
-96.50
1048.50
553.00
-2205.50
2407.50
208.00
2400.50
641.50
1549.50
2163.92
-1151.00
1721.93

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/06/08
07/30/07
08/07/06
08/05/05
08/06/04
07/18/03
07/29/02
08/02/01
08/01/00
07/16/99
08/07/98
07/17/97
08/05/96
08/04/95
08/05/94

10262.00
4628.50
1335.00
1652.00
2586.50
845.00
980.00
1415.00
574.50
284.50
2407.50
1265.00
2548.50
643.50
1549.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/14/06
07/15/05
07/14/04

-42.00
-327.50
-1106.00

07/22/02

-1024.00

07/21/00
08/04/99
07/17/98
08/01/97

-244.00
-2442.50
-707.00
-655.50

07/17/95

-1035.00

13
2
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

140

HISTORICAL SOYBEAN COMPLEX REPORT

Buy Dec Soybean Meal(CBOT) / Sell Nov Soybeans(CBOT)


Enter on approximately 07/13 - Exit on approximately 08/07
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/13/07
07/13/06
07/13/05
07/13/04
07/14/03
07/15/02
07/13/01
07/13/00
07/13/99
07/13/98
07/14/97
07/15/96
07/13/95
07/13/94

Percentage Correct

ENTRY
PRICE
-36430
-20888
-13460
-13880
-11823
-10513
-9603
-8868
-7873
-8248
-14195
-10868
-15268
-12683
-11090
87

EXIT
DATE
08/07/08
08/07/07
08/07/06
08/05/05
08/06/04
08/07/03
08/07/02
08/07/01
08/07/00
08/06/99
08/07/98
08/07/97
08/07/96
08/07/95
08/05/94

EXIT
PRICE
-28680
-19778
-12640
-12570
-10818
-10055
-9885
-8730
-7678
-9290
-12658
-10575
-13933
-11925
-10873

PROFIT
AMOUNT
7750.00
1110.00
820.00
1310.00
1005.00
457.50
-282.50
137.50
195.00
-1042.50
1537.50
292.50
1335.00
757.50
217.50

BEST
EQUITY
DATE
08/06/08
07/25/07
08/07/06
08/05/05
08/04/04
07/31/03
07/29/02
08/03/01
08/07/00
07/28/99
08/07/98
07/25/97
07/26/96
08/07/95
07/27/94

1301.92
-662.50
1040.00

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT
8010.00
1325.00
820.00
1310.00
1152.50
712.50
372.50
782.50
195.00
200.00
1537.50
465.00
1815.00
757.50
585.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/14/06
07/14/05
07/14/04

-130.00
-120.00
-570.00

07/22/02
07/17/01
07/24/00
08/04/99

-617.50
-305.00
-292.50
-1285.00

07/31/97

-512.50

07/17/95
07/15/94

-367.50
-37.50
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Aug Soybean Meal(CBOT) / Sell Aug Soybeans(CBOT)


Enter on approximately 07/15 - Exit on approximately 07/29
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/15/08
07/16/07
07/17/06
07/15/05
07/15/04
07/15/03
07/15/02
07/16/01
07/17/00
07/15/99
07/15/98
07/15/97
07/15/96
07/17/95
07/15/94

Percentage Correct

ENTRY
PRICE
-34920
-20018
-12610
-13380
-12120
-11053
-9780
-8450
-7215
-8645
-14865
-13579
-16070
-13278
-12373
93

EXIT
DATE
07/29/08
07/27/07
07/28/06
07/29/05
07/29/04
07/29/03
07/29/02
07/27/01
07/28/00
07/29/99
07/29/98
07/29/97
07/29/96
07/28/95
07/29/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-31563
-19415
-12445
-12348
-11215
-9965
-9618
-7905
-7310
-8473
-14308
-12720
-14083
-12605
-11708

PROFIT
AMOUNT
3357.50
602.50
165.00
1032.50
905.00
1087.50
162.50
545.00
-95.00
172.50
557.50
858.75
1987.50
672.50
665.00
912.23
-95.00
845.08

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/29/08
07/25/07
07/27/06
07/22/05
07/22/04
07/29/03
07/29/02
07/20/01
07/18/00
07/28/99
07/24/98
07/22/97
07/26/96
07/19/95
07/21/94

3357.50
767.50
430.00
1177.50
1145.00
1087.50
162.50
680.00
80.00
410.00
930.00
1386.25
2117.50
812.50
1012.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/16/08
07/19/07

-810.00
-32.50

07/18/05
07/26/04

-62.50
-150.00

07/22/02
07/17/01
07/21/00
07/23/99
07/17/98

-807.50
-460.00
-367.50
-735.00
-127.50

07/18/94

-92.50
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

141

Product & Crush Strategy Tables

CONT
YEAR

Buy 11 Aug Soybean Meal(CBOT) / Buy 9 Aug Soybean Oil(CBOT) /


Sell 10 Aug Soybeans(CBOT)
Enter on approximately 07/14 - Exit on approximately 07/21
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

07/14/08
07/16/07
07/14/06
07/14/05
07/14/04
07/14/03
07/15/02
07/16/01
07/14/00
07/14/99
07/14/98
07/14/97
07/15/96
07/14/95
07/14/94

Percentage Correct

ENTRY
PRICE
76.47
56.32
77.13
51.76
101.78
46.20
60.85
63.20
56.76
24.12
0.34
28.51
20.55
82.37
62.01
80

EXIT
DATE
07/21/08
07/20/07
07/21/06
07/21/05
07/21/04
07/21/03
07/19/02
07/20/01
07/21/00
07/21/99
07/21/98
07/21/97
07/19/96
07/21/95
07/21/94

EXIT
PRICE
78.91
57.58
77.17
65.63
94.95
54.18
49.99
69.51
51.03
25.82
17.16
41.56
37.14
84.77
71.67

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

2.44
1.26
0.04
13.87
-6.83
7.98
-10.86
6.31
-5.73
1.70
16.82
13.05
16.59
2.40
9.66

1608.00
604.00
142.00
7054.00
-3311.00
4093.00
-5419.00
3220.00
-2873.00
752.00
8501.00
6584.00
8464.00
1225.00
4860.00

3925.58
-3867.67
2366.93

3925.58
-3867.67
2366.93

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

07/18/08
07/17/07
07/21/06
07/21/05
07/19/04
07/18/03

8.38
4.89
0.04
13.87
12.20
11.17

07/20/01
07/18/00
07/21/99
07/21/98
07/21/97
07/19/96
07/19/95
07/21/94

6.31
0.56
1.70
16.82
13.05
16.59
2.58
9.66

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

07/16/08

-0.24

07/19/06

-4.42

07/21/04

-6.83

07/18/02
07/17/01
07/21/00
07/15/99

-12.45
-0.83
-5.73
-1.62

07/15/94

-2.04
12
3
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 11 Sep Soybean Meal(CBOT) / Buy 9 Sep Soybean Oil(CBOT) /


Sell 10 Sep Soybeans(CBOT)

Product & Crush Strategy Tables

Enter on approximately 08/12 - Exit on approximately 08/24


CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

08/12/08
08/13/07
08/14/06
08/12/05
08/12/04
08/12/03
08/12/02
08/13/01
08/14/00
08/12/99
08/12/98
08/12/97
08/12/96
08/14/95
08/12/94

Percentage Correct

ENTRY
PRICE
80.27
58.11
73.50
54.37
74.29
46.72
52.40
77.03
47.03
23.40
26.60
85.62
37.45
85.22
76.16
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
08/22/08
08/24/07
08/24/06
08/24/05
08/24/04
08/22/03
08/23/02
08/24/01
08/24/00
08/24/99
08/24/98
08/22/97
08/23/96
08/24/95
08/24/94

EXIT
PRICE
67.31
60.26
79.24
59.26
92.58
54.17
68.62
74.61
56.35
26.65
27.93
118.29
38.47
82.25
77.75

PROFIT

PROFIT
AMOUNT

-12.96
2.15
5.74
4.89
18.29
7.45
16.22
-2.42
9.32
3.25
1.33
32.67
1.02
-2.97
1.59

-6898.00
1144.00
2879.00
2468.00
8970.00
3684.00
8041.00
-1012.00
4675.00
1559.00
609.00
16257.00
614.00
-1463.00
756.00

4304.67
-3124.33
2818.87

4304.67
-3124.33
2818.87

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

08/13/08
08/16/07
08/23/06
08/24/05
08/20/04
08/21/03
08/22/02
08/16/01
08/24/00
08/20/99
08/14/98
08/22/97
08/20/96

1.50
3.50
6.31
4.89
30.01
12.56
18.46
2.89
9.32
5.20
2.02
32.67
4.35

08/22/94

3.18
Winners
Losers
Total Trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

08/21/08
08/15/07

-23.17
-1.71

08/16/05

-1.99

08/22/01

-5.84

08/19/98
08/13/97
08/14/96
08/23/95

-1.52
-2.79
-5.42
-3.61

12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

142

HISTORICAL SOYBEAN COMPLEX REPORT

Buy 11 Dec Soybean Meal(CBOT) / Buy 9 Dec Soybean Oil(CBOT) /


Sell 10 Nov Soybeans(CBOT)
Enter on approximately 08/29 - Exit on approximately 09/07
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

08/29/08
08/29/07
08/29/06
08/29/05
08/30/04
08/29/03
08/29/02
08/29/01
08/29/00
08/30/99
08/31/98
08/29/97
08/29/96
08/29/95
08/29/94

Percentage Correct

ENTRY
PRICE
59.80
66.14
80.62
54.88
47.97
43.94
56.21
68.54
47.49
29.78
40.04
85.54
47.16
82.25
78.89
87

EXIT
DATE
09/05/08
09/07/07
09/07/06
09/07/05
09/07/04
09/05/03
09/06/02
09/07/01
09/07/00
09/07/99
09/04/98
09/05/97
09/06/96
09/07/95
09/07/94

EXIT
PRICE
80.19
71.44
82.17
58.92
51.31
44.26
56.66
70.68
49.00
26.64
41.95
92.21
48.87
78.64
82.36

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

PROFIT

PROFIT
AMOUNT

20.39
5.30
1.55
4.04
3.34
0.32
0.45
2.14
1.51
-3.14
1.91
6.67
1.71
-3.61
3.47

10726.00
2558.00
800.00
1987.00
1746.00
179.00
202.00
1160.00
793.00
-1640.00
878.00
3368.00
816.00
-1780.00
1637.00

2065.38
-1710.00
1562.00

2065.38
-1710.00
1562.00

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

09/05/08
09/07/07
09/05/06
09/02/05
09/07/04
09/03/03
08/30/02
08/31/01
08/31/00
08/31/99
09/04/98
09/05/97
09/06/96

20.39
5.30
3.35
6.45
3.34
0.44
1.40
4.81
2.57
1.25
1.91
6.67
1.71

09/07/94

3.47

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

08/30/07
08/30/06

-1.07
-0.02

09/02/04
09/02/03
09/05/02

-1.98
-0.13
-3.29

09/07/99

-3.14

09/02/97
08/30/96
09/05/95
08/31/94

-1.98
-1.04
-5.25
-1.00
13
2
15

Winners
Losers
Total Trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy 2 Dec Soybean Meal(CBOT) / Sell 3 Dec Soybean Oil(CBOT)


Enter on approximately 09/20 - Exit on approximately 10/12
ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

09/22/08
09/20/07
09/20/06
09/20/05
09/20/04
09/22/03
09/20/02
09/20/01
09/20/00
09/20/99
09/21/98
09/22/97
09/20/96
09/20/95
09/20/94

Percentage Correct

ENTRY
PRICE
-24454
-15652
-10958
-5820
-6236
-4206
288
3412
5310
-1130
-20316
-1776
4996
-7454
-11192
80

EXIT
DATE
10/10/08
10/12/07
10/12/06
10/12/05
10/12/04
10/10/03
10/11/02
10/12/01
10/12/00
10/12/99
10/12/98
10/10/97
10/11/96
10/12/95
10/12/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
-15922
-15374
-10142
-8362
-4884
-4098
-1514
5106
5644
856
-15352
1092
6002
-8626
-10944

PROFIT
AMOUNT
8532.00
278.00
816.00
-2542.00
1352.00
108.00
-1802.00
1694.00
334.00
1986.00
4964.00
2868.00
1006.00
-1172.00
248.00
2015.50
-1838.67
1244.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

10/10/08
09/26/07
10/05/06

8532.00
1440.00
1570.00

10/12/04
09/29/03

1352.00
908.00

10/08/01
09/25/00
10/12/99
10/09/98
10/10/97
09/26/96

2496.00
806.00
1986.00
5322.00
2868.00
1782.00

10/04/94

1456.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

10/05/07
09/28/06
10/05/05
10/05/04
10/07/03
10/09/02
09/25/01

-1522.00
-268.00
-4448.00
-592.00
-930.00
-1996.00
-1320.00

09/23/99

-48.00

09/30/97

-1790.00

10/06/95
09/26/94

-2534.00
-894.00
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

143

Product & Crush Strategy Tables

CONT
YEAR

Buy 2 Dec Soybean Meal(CBOT) / Sell 3 Dec Soybean Oil(CBOT)


Enter on approximately 10/02 - Exit on approximately 10/12
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

10/02/08
10/02/07
10/02/06
10/03/05
10/04/04
10/02/03
10/02/02
10/02/01
10/02/00
10/04/99
10/02/98
10/02/97
10/02/96
10/02/95
10/03/94

Percentage Correct

ENTRY
PRICE
-22824
-15740
-10392
-10210
-5578
-4896
-1180
4510
5606
-162
-17496
-2970
5526
-9498
-10292
87

EXIT
DATE
10/10/08
10/12/07
10/12/06
10/12/05
10/12/04
10/10/03
10/11/02
10/12/01
10/12/00
10/12/99
10/12/98
10/10/97
10/11/96
10/12/95
10/12/94

EXIT
PRICE
-15922
-15374
-10142
-8362
-4884
-4098
-1514
5106
5644
856
-15352
1092
6002
-8626
-10944

PROFIT
AMOUNT
6902.00
366.00
250.00
1848.00
694.00
798.00
-334.00
596.00
38.00
1018.00
2144.00
4062.00
476.00
872.00
-652.00

BEST
EQUITY
DATE
10/10/08
10/03/07
10/05/06
10/12/05
10/12/04
10/09/03
10/07/02
10/08/01
10/03/00
10/12/99
10/09/98
10/10/97
10/10/96
10/12/95
10/04/94

1543.38
-493.00
1271.87

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT
6902.00
440.00
1004.00
1848.00
694.00
938.00
280.00
1398.00
390.00
1018.00
2502.00
4062.00
694.00
872.00
556.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

10/05/07
10/09/06
10/05/05
10/05/04
10/07/03
10/09/02

-1434.00
-570.00
-58.00
-1250.00
-240.00
-528.00

10/06/99
10/05/98
10/06/97

-766.00
-536.00
-122.00

10/06/95
10/12/94

-490.00
-652.00
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Jan Soybeans(CBOT) / Sell Jan Soybean Meal(CBOT)

Product & Crush Strategy Tables

Enter on approximately 11/05 - Exit on approximately 11/29


CONT
YEAR

ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

11/05/08
11/05/07
11/06/06
11/07/05
11/05/04
11/05/03
11/05/02
11/05/01
11/06/00
11/05/99
11/05/98
11/05/97
11/05/96
11/06/95
11/07/94

Percentage Correct

ENTRY
PRICE
18520
23190
13498
11610
10393
14230
11548
6193
6968
8815
13875
12898
12138
13495
12070
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
11/28/08
11/29/07
11/29/06
11/29/05
11/29/04
11/28/03
11/29/02
11/29/01
11/29/00
11/29/99
11/27/98
11/28/97
11/29/96
11/29/95
11/29/94

EXIT
PRICE
18720
25340
14503
10620
11155
15023
12198
6645
6118
8835
14493
13073
12708
13050
12548

PROFIT
AMOUNT
200.00
2150.00
1005.00
-990.00
762.50
792.50
650.00
452.50
-850.00
20.00
617.50
175.00
570.00
-445.00
477.50
656.04
-761.67
372.50

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

11/10/08
11/23/07
11/27/06
11/09/05
11/17/04
11/17/03
11/29/02
11/23/01
11/08/00
11/08/99
11/27/98
11/13/97
11/27/96

1190.00
2402.50
1092.50
255.00
1307.50
840.00
650.00
600.00
162.50
115.00
617.50
855.00
665.00

11/29/94

477.50
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

11/20/08

-1570.00

11/10/06
11/29/05
11/08/04
11/07/03
11/08/02
11/06/01
11/29/00
11/10/99
11/13/98
11/20/97
11/11/96
11/27/95
11/11/94

-42.50
-990.00
-77.50
-515.00
-62.50
-212.50
-850.00
-325.00
-37.50
-247.50
-197.50
-630.00
-47.50
(484)
12
3
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

144

HISTORICAL SOYBEAN COMPLEX REPORT

Buy 2 Mar Soybean Meal(CBOT) / Sell 3 Mar Soybean Oil(CBOT)


Enter on approximately 11/27 - Exit on approximately 01/16
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

11/27/07
11/27/06
11/28/05
11/29/04
11/28/03
11/27/02
11/27/01
11/27/00
11/29/99
11/27/98
11/28/97
11/27/96
11/27/95
11/28/94
11/29/93

Percentage Correct

ENTRY
PRICE
-25648
-13502
-4484
-4898
-3020
-6934
296
9404
-1280
-16518
-2580
1476
-3200
-15726
-7286
87

EXIT
DATE
01/16/08
01/16/07
01/13/06
01/14/05
01/16/04
01/16/03
01/16/02
01/16/01
01/14/00
01/15/99
01/16/98
01/16/97
01/16/96
01/16/95
01/14/94

EXIT
PRICE
-25534
-10202
-2666
-4374
-1616
-3736
4550
9478
2324
-15212
-5890
2870
3924
-15622
-14864

PROFIT
AMOUNT
114.00
3300.00
1818.00
524.00
1404.00
3198.00
4254.00
74.00
3604.00
1306.00
-3310.00
1394.00
7124.00
104.00
-7578.00

BEST
EQUITY
DATE
12/14/07
01/16/07
12/27/05
01/11/05
12/26/03
01/06/03
01/16/02
12/29/00
01/14/00
12/30/98
12/08/97
01/16/97
01/16/96
12/21/94
12/01/93

2170.62
-5444.00
1155.33

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

BEST
EQUITY
AMOUNT
7756.00
3300.00
6880.00
1992.00
3260.00
3804.00
4254.00
1768.00
3604.00
3442.00
1412.00
1394.00
7124.00
1392.00
858.00

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/04/06
12/05/05
12/28/04
12/15/03
11/29/02
01/07/02
12/07/00
11/30/99

-2222.00
-268.00
-1618.00
-1756.00
-456.00
-986.00
-482.00
-318.00

01/09/98
12/09/96

-3448.00
-1660.00

12/30/94
01/14/94

-3800.00
-7578.00
(1502)
13
2
15

Winners
Losers
Total trades

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Buy Jan Soybean Meal(CBOT) / Sell Jan Soybean Oil(CBOT)


Enter on approximately 12/03 - Exit on approximately 12/24
ENTRY
DATE

2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995

12/03/08
12/03/07
12/04/06
12/05/05
12/03/04
12/03/03
12/03/02
12/03/01
12/04/00
12/03/99
12/03/98
12/03/97
12/03/96
12/04/95
12/05/94

Percentage Correct

ENTRY
PRICE
6322
1800
966
4394
3280
6706
3766
5270
9772
4954
342
7060
8900
6492
-1444
93

EXIT
DATE
12/24/08
12/24/07
12/22/06
12/23/05
12/23/04
12/24/03
12/23/02
12/21/01
12/22/00
12/23/99
12/24/98
12/24/97
12/24/96
12/22/95
12/23/94

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
PRICE
10004
4444
1638
7572
3528
6972
3788
5716
10594
5086
566
6194
9466
8012
-1344

PROFIT
AMOUNT
3682.00
2644.00
672.00
3178.00
248.00
266.00
22.00
446.00
822.00
132.00
224.00
-866.00
566.00
1520.00
100.00
1037.29
-866.00
910.40

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

12/24/08
12/14/07
12/14/06
12/23/05
12/13/04
12/24/03
12/23/02
12/20/01
12/22/00
12/20/99
12/21/98
12/08/97
12/24/96
12/18/95
12/21/94

3682.00
3058.00
920.00
3178.00
1168.00
266.00
22.00
542.00
822.00
288.00
240.00
730.00
566.00
1682.00
1292.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

12/10/08

-32.00

12/23/03
12/06/02
12/06/01
12/07/00
12/15/99
12/15/98
12/19/97
12/09/96

-812.00
-612.00
-310.00
-188.00
-58.00
-612.00
-1446.00
-988.00

(1184)
14
1
15

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

MOORE RESEARCH CENTER, INC.

145

Product & Crush Strategy Tables

CONT
YEAR

Buy Mar Soybeans(CBOT) / Sell Mar Soybean Meal(CBOT)


Enter on approximately 12/29 - Exit on approximately 02/26
CONT
YEAR

ENTRY
DATE

2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994

12/31/07
12/29/06
12/29/05
12/29/04
12/29/03
12/30/02
12/31/01
12/29/00
12/29/99
12/29/98
12/29/97
12/30/96
12/29/95
12/29/94
12/29/93

Percentage Correct

ENTRY
PRICE
27043
15173
10658
11185
15010
11403
6732
6528
8693
13085
13810
12565
13578
12373
15100
80

Average Profit on Winning Trades


Average Loss on Trades
Average Net Profit Per Trade

EXIT
DATE
02/26/08
02/26/07
02/24/06
02/25/05
02/26/04
02/26/03
02/26/02
02/26/01
02/25/00
02/26/99
02/26/98
02/26/97
02/26/96
02/24/95
02/25/94

EXIT
PRICE
36218
16178
11313
12055
18750
10793
6788
6663
8720
10338
14998
13568
13718
12390
14648

PROFIT
AMOUNT
9175.00
1005.00
655.00
870.00
3740.00
-610.00
55.00
135.00
27.50
-2747.50
1187.50
1002.50
140.00
17.50
-452.50
1500.83
-1270.00
946.67

BEST
EQUITY
DATE

BEST
EQUITY
AMOUNT

02/26/08
02/26/07
01/04/06
02/25/05
02/26/04
01/08/03
01/08/02
02/05/01
01/27/00
01/08/99
02/19/98
01/16/97
01/03/96
02/15/95
01/13/94

9175.00
1005.00
1265.00
870.00
3740.00
557.50
477.50
305.00
977.50
505.00
1422.50
1317.50
432.50
187.50
815.00
Winners
Losers
Total trades

WORST
EQUITY
DATE

WORST
EQUITY
AMOUNT

01/10/07
01/19/06
02/03/05
12/30/03
02/12/03
01/28/02
01/19/01
01/03/00
02/26/99
12/31/97

-1105.00
-247.50
-1155.00
-152.50
-680.00
-512.50
-630.00
-137.50
-2747.50
-147.50

01/29/96
01/20/95
02/08/94

-487.50
-877.50
-965.00
(1231)
12
3
15

Product & Crush Strategy Tables

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,
HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE
ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

146

HISTORICAL SOYBEAN COMPLEX REPORT

Cash & Basis Charts

Page
SEASONAL PATTERNS & WEEKLY CONTINUATION CHARTS
Cash
Soybeans, Soymeal, Soyoil ............................................................................................... 148

SEASONAL AVERAGE & WEEKLY CONTINUATION CHARTS

Cash & Basis

Basis
Soybeans: Cash vs: Jan, Mar, May, Jul ......................................................................... 150
Soybeans: Cash vs: Aug, Sep, Nov ............................................................................... 152
Soybean Meal: Cash vs: Jan, Mar, May, Jul ................................................................. 154
Soybean Meal: Cash vs: Aug, Sep, Oct, Dec ................................................................ 156
Soybean Oil: Cash vs: Jan, Mar, May, Jul .................................................................... 158
Soybean Oil: Cash vs: Aug, Sep, Oct, Dec ................................................................... 160

MOORE RESEARCH CENTER, INC.

147

Soybeans: No 1 yellow Cent-Ill. 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Soybean Meal: Cent-Ill 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Soybean Oil: crd Decatur Ill 15 Year Seasonal(94-08)


100

80
15 Year
Pattern

60

40
5 Year
Pattern

20

0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Cash

Sep

148

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybeans: No 1 yellow Cent-Ill.


1800.00
1600.00
1400.00
1200.00
1000.00
800.00
600.00
400.00
200.00
1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2005

2006

2007

2008

2005

2006

2007

2008

Weekly Soybean Meal: Cent-Ill


500.00

400.00

300.00

200.00

100.00
1998

1999

2000

2001

2002

2003

2004

Weekly Soybean Oil: crd Decatur Ill


70.00
60.00
50.00
40.00
30.00
20.00
10.00
1999

2000

2001

2002

2003

2004

Cash

1998

MOORE RESEARCH CENTER, INC.

149

Soybeans: No 1 yellow Cent-Ill. - Jan Soybeans(CBOT) 15 Year Average(94-08)


40.00

20.00
15 Year
Pattern

0.00

-20.00
5 Year
Pattern

-40.00

-60.00
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Soybeans: No 1 yellow Cent-Ill. - Mar Soybeans(CBOT) 15 Year Average(94-08)


40.00

20.00
15 Year
Pattern

0.00

-20.00
5 Year
Pattern

-40.00

-60.00
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Soybeans: No 1 yellow Cent-Ill. - May Soybeans(CBOT) 15 Year Average(94-08)


40.00

20.00
15 Year
Pattern

0.00

-20.00
5 Year
Pattern

-40.00

-60.00
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Soybeans: No 1 yellow Cent-Ill. - Jul Soybeans(CBOT) 15 Year Average(94-08)


10.00
0.00

Soybean Basis

-10.00
15 Year
Pattern

-20.00
-30.00
-40.00

5 Year
Pattern

-50.00
-60.00
-70.00
Aug

150

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybeans: No 1 yellow Cent-Ill. - Jan Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
-150.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Soybeans: No 1 yellow Cent-Ill. - Mar Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
-150.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybeans: No 1 yellow Cent-Ill. - May Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
-150.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybeans: No 1 yellow Cent-Ill. - Jul Soybeans(CBOT)


100.00

50.00

Soybean Basis

0.00

-50.00

-100.00

-150.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

151

Soybeans: No 1 yellow Cent-Ill. - Aug Soybeans(CBOT) 15 Year Average(94-08)


20.00
10.00
0.00
15 Year
Pattern

-10.00
-20.00
-30.00

5 Year
Pattern

-40.00
-50.00
-60.00
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Soybeans: No 1 yellow Cent-Ill. - Sep Soybeans(CBOT) 15 Year Average(94-08)


40.00
20.00
0.00
15 Year
Pattern

-20.00
-40.00
-60.00

5 Year
Pattern

-80.00
-100.00
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Soybeans: No 1 yellow Cent-Ill. - Nov Soybeans(CBOT) 15 Year Average(94-08)


40.00

20.00
15 Year
Pattern

0.00

-20.00
5 Year
Pattern

-40.00

-60.00
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Soybean Basis

Dec

152

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybeans: No 1 yellow Cent-Ill. - Aug Soybeans(CBOT)


150.00
100.00
50.00
0.00
-50.00
-100.00
-150.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

Weekly Soybeans: No 1 yellow Cent-Ill. - Sep Soybeans(CBOT)


300.00
200.00
100.00
0.00
-100.00
-200.00
-300.00
-400.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybeans: No 1 yellow Cent-Ill. - Nov Soybeans(CBOT)


300.00
250.00
200.00
150.00
100.00
50.00
0.00
-50.00
-100.00
2000

2001

2002

2003

2004

2005

2006

Soybean Basis

1999

MOORE RESEARCH CENTER, INC.

153

Soybean Meal: Cent-Ill - Jan Soybean Meal(CBOT) 15 Year Average(94-08)


40.0

30.0
15 Year
Pattern

20.0

10.0
5 Year
Pattern

0.0

-10.0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Soybean Meal: Cent-Ill - Mar Soybean Meal(CBOT) 15 Year Average(94-08)


40.0

30.0
15 Year
Pattern

20.0

10.0
5 Year
Pattern

0.0

-10.0
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Soybean Meal: Cent-Ill - May Soybean Meal(CBOT) 15 Year Average(94-08)


40.0

30.0
15 Year
Pattern

20.0

10.0
5 Year
Pattern

0.0

-10.0
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Soybean Meal Basis

Soybean Meal: Cent-Ill - Jul Soybean Meal(CBOT) 15 Year Average(94-08)


10.0

5.0
15 Year
Pattern

0.0

-5.0
5 Year
Pattern

-10.0

-15.0
Aug

154

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybean Meal: Cent-Ill - Jan Soybean Meal(CBOT)


160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
-40.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2006

2007

2008

2006

2007

2008

Weekly Soybean Meal: Cent-Ill - Mar Soybean Meal(CBOT)


160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
-40.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Meal: Cent-Ill - May Soybean Meal(CBOT)


160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
-40.0
1999

2000

2001

2002

2003

2004

2005

Weekly Soybean Meal: Cent-Ill - Jul Soybean Meal(CBOT)


50.0

Soybean Meal Basis

40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
-30.0
-40.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

155

Soybean Meal: Cent-Ill - Aug Soybean Meal(CBOT) 15 Year Average(94-08)


15.0

10.0
15 Year
Pattern

5.0

0.0
5 Year
Pattern

-5.0

-10.0
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Soybean Meal: Cent-Ill - Sep Soybean Meal(CBOT) 15 Year Average(94-08)


25.0
20.0
15.0
15 Year
Pattern

10.0
5.0
0.0

5 Year
Pattern

-5.0
-10.0
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Soybean Meal: Cent-Ill - Oct Soybean Meal(CBOT) 15 Year Average(94-08)


30.0
25.0
20.0
15 Year
Pattern

15.0
10.0
5.0

5 Year
Pattern

0.0
-5.0
-10.0
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Soybean Meal Basis

Soybean Meal: Cent-Ill - Dec Soybean Meal(CBOT) 15 Year Average(94-08)


40.0

30.0
15 Year
Pattern

20.0

10.0
5 Year
Pattern

0.0

-10.0
Jan

156

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybean Meal: Cent-Ill - Aug Soybean Meal(CBOT)


70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
-30.0
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Soybean Meal: Cent-Ill - Sep Soybean Meal(CBOT)


120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
-40.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Meal: Cent-Ill - Oct Soybean Meal(CBOT)


160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
-40.0
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Meal: Cent-Ill - Dec Soybean Meal(CBOT)


160.0

Soybean Meal Basis

140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
-20.0
-40.0
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

157

Soybean Oil: crd Decatur Ill - Jan Soybean Oil(CBOT) 15 Year Average(94-08)
1.50

1.00
15 Year
Pattern

0.50

0.00
5 Year
Pattern

-0.50

-1.00
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Soybean Oil: crd Decatur Ill - Mar Soybean Oil(CBOT) 15 Year Average(94-08)
1.50

1.00
15 Year
Pattern

0.50

0.00
5 Year
Pattern

-0.50

-1.00
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Soybean Oil: crd Decatur Ill - May Soybean Oil(CBOT) 15 Year Average(94-08)
1.00

0.50
15 Year
Pattern

0.00

5 Year
Pattern

-0.50

-1.00
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Soybean Oil: crd Decatur Ill - Jul Soybean Oil(CBOT) 15 Year Average(94-08)

Soybean Oil Basis

0.20
0.00
-0.20
15 Year
Pattern

-0.40
-0.60
-0.80

5 Year
Pattern

-1.00
-1.20
Aug

158

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybean Oil: crd Decatur Ill - Jan Soybean Oil(CBOT)


10.00
8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Soybean Oil: crd Decatur Ill - Mar Soybean Oil(CBOT)


10.00
8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Oil: crd Decatur Ill - May Soybean Oil(CBOT)


8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Oil: crd Decatur Ill - Jul Soybean Oil(CBOT)


6.00

Soybean Oil Basis

4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

159

Soybean Oil: crd Decatur Ill - Aug Soybean Oil(CBOT) 15 Year Average(94-08)
0.20
0.00
-0.20
15 Year
Pattern

-0.40
-0.60
-0.80

5 Year
Pattern

-1.00
-1.20
-1.40
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Soybean Oil: crd Decatur Ill - Sep Soybean Oil(CBOT) 15 Year Average(94-08)
0.20
0.00
-0.20
15 Year
Pattern

-0.40
-0.60
-0.80

5 Year
Pattern

-1.00
-1.20
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Soybean Oil: crd Decatur Ill - Oct Soybean Oil(CBOT) 15 Year Average(94-08)
0.40
0.20
0.00
15 Year
Pattern

-0.20
-0.40
-0.60

5 Year
Pattern

-0.80
-1.00
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Soybean Oil: crd Decatur Ill - Dec Soybean Oil(CBOT) 15 Year Average(94-08)

Soybean Oil Basis

0.40
0.20
0.00
15 Year
Pattern

-0.20
-0.40
-0.60

5 Year
Pattern

-0.80
-1.00
-1.20
Jan

160

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

HISTORICAL SOYBEAN COMPLEX REPORT

Weekly Soybean Oil: crd Decatur Ill - Aug Soybean Oil(CBOT)


5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
-4.00
-5.00
1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2007

2008

2007

2008

2007

2008

Weekly Soybean Oil: crd Decatur Ill - Sep Soybean Oil(CBOT)


6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Oil: crd Decatur Ill - Oct Soybean Oil(CBOT)


8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

2001

2002

2003

2004

2005

2006

Weekly Soybean Oil: crd Decatur Ill - Dec Soybean Oil(CBOT)


10.00

Soybean Oil Basis

8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
1999

2000

MOORE RESEARCH CENTER, INC.

2001

2002

2003

2004

2005

2006

161

Personal Notes
162

HISTORICAL SOYBEAN COMPLEX REPORT

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

Buy Nov Soybeans(CBOT)


Sell May Soybeans(CBOT)

1/03

1/24

87

13

15

Buy Nov Soybeans(CBOT)


Sell May Soybeans(CBOT)

1/03

2/02

93

14

Buy 10 Nov Soybeans(CBOT)


Sell 11 Dec Soybean Meal(CBOT)
Sell 09 Dec Soybean Oil(CBOT)

1/12

2/18

93

14

Buy 10 Mar Soybeans(CBOT)


Sell 11 Mar Soybean Meal(CBOT)
Sell 09 Mar Soybean Oil(CBOT)

1/20

2/06

80

Buy Aug Soybeans(CBOT)


Sell Aug Soybean Meal(CBOT)

1/28

3/19

Buy Jul Soybeans(CBOT)


Sell Jul Soybean Meal(CBOT)

1/29

Buy Soybean Oil(CBOT)July

8
9

Average
Profit

Ave PPD/
Days

Pg
No

435

20/22

27

15

497

16/31

27

15

2028

55/37

127

12

15

1585

93/17

127

93

14

15

853

16/52

128

3/01

87

13

15

1090

33/33

128

1/29

3/16

93

14

15

919

20/47

101

Buy Soybeans(CBOT)September

1/30

2/19

87

13

15

866

41/21

28

Buy Soybean Meal(CBOT)September

2/01

2/19

87

13

15

550

29/19

67

10 Buy Soybeans(CBOT)July

2/08

3/01

80

12

15

1457

66/22

28

11 Buy Aug Soybeans(CBOT)


Sell Sep Soybeans(CBOT)

2/08

3/26

87

13

15

461

10/48

29

12 Buy Soybean Oil(CBOT)March

2/08

2/26

87

13

15

595

31/19

101

13 Buy Soybeans(CBOT)September

2/10

2/18

87

13

15

464

52/9

29

14 Buy Soybean Oil(CBOT)March

2/13

2/22

87

13

15

414

41/10

102

15 Buy Soybean Oil(CBOT)October

2/15

3/03

80

12

15

738

41/18

102

16 Buy 3 Sep Soybean Oil(CBOT)


Sell 2 Sep Soybean Meal(CBOT)

2/18

2/28

80

12

15

1148

104/11

129

17 Buy 10 Mar Soybeans(CBOT)


Sell 11 Mar Soybean Meal(CBOT)
Sell 09 Mar Soybean Oil(CBOT)

2/20

2/28

80

12

15

1785

223/8

129

18 Buy Jul Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

2/22

3/27

80

12

15

836

24/35

30

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


MOORE RESEARCH CENTER, INC.

163

Chronological Summary

Chronological Summary of Strategies

Chronological Summary of Strategies

Chronological Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

19 Buy Aug Soybean Meal(CBOT)


Sell Oct Soybean Meal(CBOT)

2/22

3/29

100

15

15

20 Buy Soybean Oil(CBOT)July

4/08

4/20

80

12

21 Buy Jul Soybean Meal(CBOT)


Sell Dec Soybean Meal(CBOT)

2/22

4/30

87

13

22 Buy 11 Oct Soybean Meal(CBOT)


Buy 09 Oct Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

2/28

3/16

93

23 Buy 11 Oct Soybean Meal(CBOT)


Buy 09 Oct Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

2/28

4/26

24 Buy May Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

3/07

25 Buy Soybean Meal(CBOT)July

Average
Profit

Ave PPD/
Days

Pg
No

471

13/37

67

15

466

36/13

103

15

757

11/69

68

14

15

1886

111/17

130

100

15

15

3653

63/58

130

3/27

80

12

15

587

28/21

30

3/07

6/19

93

14

15

1353

13/105

68

26 Buy 11 Oct Soybean Meal(CBOT)


Buy 09 Oct Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

3/07

4/19

100

15

15

2648

62/43

131

27 Buy 11 Sep Soybean Meal(CBOT)


Buy 09 Sep Soybean Oil(CBOT)
Sell 10 Sep Soybeans(CBOT)

3/11

4/26

93

14

15

3802

83/46

131

28 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

3/12

3/27

93

14

15

1545

103/15

132

29 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

3/12

5/06

100

15

15

2537

46/55

132

30 Buy 11 May Soybean Meal(CBOT)


Buy 09 May Soybean Oil(CBOT)
Sell 10 May Soybeans(CBOT)

3/16

3/29

87

13

15

2315

178/13

133

31 Buy May Soybean Meal(CBOT)


Sell Oct Soybean Meal(CBOT)

3/19

3/29

100

15

15

360

33/11

69

32 Buy Nov Soybeans(CBOT)


Sell May Soybeans(CBOT)

3/30

4/07

87

13

15

425

47/9

31

For other MRCI products and information: 800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


164

HISTORICAL SOYBEAN COMPLEX REPORT

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

33 Sell Soybean Meal(CBOT)December

4/05

4/16

87

13

15

34 Buy Soybeans(CBOT)July

4/08

5/03

80

12

35 Buy 3 Sep Soybean Oil(CBOT)


Sell 2 Sep Soybean Meal(CBOT)

4/08

4/23

80

12

36 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

4/12

4/26

93

37 Buy Soybeans(CBOT)November

4/16

5/18

38 Buy Soybean Meal(CBOT)July

4/20

39 Buy Sep Soybeans(CBOT)


Sell Sep Soybean Oil(CBOT)

Average
Profit

Ave PPD/
Days

Pg
No

306

26/12

69

15

689

27/26

31

15

1564

98/16

133

14

15

1731

124/14

134

87

13

15

823

25/33

32

6/23

93

14

15

1091

17/65

70

4/27

5/18

93

14

15

687

31/22

134

40 Buy Oct Soybean Meal(CBOT)


Sell Oct Soybean Oil(CBOT)

4/27

5/19

93

14

15

673

29/23

135

41 Buy 2 Jul Soybean Meal(CBOT)


Sell 3 Jul Soybean Oil(CBOT)

4/27

6/27

93

14

15

3159

51/62

135

42 Buy Soybeans(CBOT)January

4/28

5/18

80

12

15

1015

48/21

32

43 Buy Soybean Meal(CBOT)December

4/28

5/18

87

13

15

777

37/21

70

44 Buy Dec Soybean Oil(CBOT)


Sell Jul Soybean Oil(CBOT)

4/29

6/29

93

14

15

416

7/62

103

45 Buy Jul Soybean Meal(CBOT)


Sell Jul Soybean Oil(CBOT)

4/29

6/24

100

15

15

1341

24/57

136

46 Buy 2 Dec Soybean Meal(CBOT)


Sell 3 Dec Soybean Oil(CBOT)

4/30

6/10

93

14

15

1447

34/42

136

47 Buy Dec Soybean Oil(CBOT)


Sell Aug Soybean Oil(CBOT)

5/03

7/28

100

15

15

308

4/87

104

48 Buy Nov Soybeans(CBOT)


Sell Jul Soybeans(CBOT)

5/06

5/23

80

12

15

488

27/18

33

49 Buy Dec Soybean Oil(CBOT)


Sell Jul Soybean Oil(CBOT)

5/07

6/03

93

14

15

282

10/28

104

50 Sell Soybeans(CBOT)August

5/19

5/29

80

12

15

469

43/11

33

51 Sell Soybean Oil(CBOT)September

6/07

8/16

87

13

15

1206

17/71

105

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


MOORE RESEARCH CENTER, INC.

165

Chronological Summary

Chronological Summary of Strategies

Chronological Summary of Strategies

Chronological Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

52 Buy 10 Nov Soybeans(CBOT)


Sell 11 Dec Soybean Meal(CBOT)
Sell 09 Dec Soybean Oil(CBOT)

5/22

6/07

87

13

15

53 Buy Aug Soybean Meal(CBOT)


Sell Mar Soybean Meal(CBOT)

5/23

7/10

87

13

54 Buy Soybeans(CBOT)September

5/27

6/02

87

13

55 Buy Jul Soybeans(CBOT)


Sell Jul Soybean Oil(CBOT)

5/27

6/18

87

56 Buy 2 Aug Soybean Meal(CBOT)


Sell 3 Aug Soybean Oil(CBOT)

5/28

6/15

57 Buy Jan Soybean Meal(CBOT)


Sell Jan Soybean Oil(CBOT)

5/28

58 Buy 2 Jul Soybean Meal(CBOT)


Sell 3 Jul Soybean Oil(CBOT)

Average
Profit

Ave PPD/
Days

Pg
No

1818

114/16

137

15

553

11/49

71

15

628

90/7

34

13

15

1419

62/23

137

93

14

15

1617

85/19

138

6/18

93

14

15

716

33/22

138

6/03

6/13

100

15

15

971

88/11

139

59 Buy Soybeans(CBOT)July

6/04

6/18

80

12

15

1234

82/15

34

60 Buy Soybean Meal(CBOT)July

6/04

6/19

80

12

15

903

56/16

71

61 Buy 11 Aug Soybean Meal(CBOT)


Buy 09 Aug Soybean Oil(CBOT)
Sell 10 Aug Soybeans(CBOT)

6/07

6/24

87

13

15

1863

110/17

139

62 Buy Aug Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

6/11

7/10

87

13

15

618

21/30

35

63 Sell Soybeans(CBOT)November

6/18

8/05

87

13

15

2503

51/49

35

64 Sell Soybeans(CBOT)November

6/29

7/27

87

13

15

1713

59/29

36

65 Sell Soybean Meal(CBOT)December

6/29

7/21

87

13

15

789

34/23

72

66 Buy Dec Soybean Oil(CBOT)


Sell Nov Soybeans(CBOT)

7/01

8/07

87

13

15

1314

35/38

140

67 Buy Soybean Meal(CBOT)August

7/06

7/13

87

13

15

483

60/8

72

68 Buy Mar Soybeans(CBOT)


Sell Aug Soybeans(CBOT)

7/12

7/30

100

15

15

1185

62/19

36

69 Sell Soybeans(CBOT)November

7/13

7/28

87

13

15

1799

112/16

37

70 Sell Soybeans(CBOT)September

7/13

8/08

93

14

15

2758

102/27

37

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


166

HISTORICAL SOYBEAN COMPLEX REPORT

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

71 Sell Soybean Oil(CBOT)August

7/13

7/27

100

15

15

72 Sell Soybean Oil(CBOT)September

7/13

8/17

87

13

73 Sell Soybean Oil(CBOT)January

7/13

10/08

80

12

74 Buy Sep Soybean Oil(CBOT)


Sell Sep Soybeans(CBOT)

7/13

8/07

87

75 Buy Dec Soybean Meal(CBOT)


Sell Nov Soybeans(CBOT)

7/13

8/07

76 Sell Soybean Meal(CBOT)September

7/13

77 Buy 11 Aug Soybean Meal(CBOT)


Buy 09 Aug Soybean Oil(CBOT)
Sell 10 Aug Soybeans(CBOT)

Average
Profit

Ave PPD/
Days

Pg
No

765

51/15

105

15

1149

32/36

106

15

1464

17/88

106

13

15

1722

66/26

140

87

13

15

1040

40/26

141

8/08

93

14

15

1843

68/27

73

7/14

7/21

80

12

15

2367

338/7

141

78 Buy Mar Soybean Meal(CBOT)


Sell Aug Soybean Meal(CBOT)

7/15

7/30

87

13

15

632

40/16

73

79 Buy Aug Soybean Meal(CBOT)


Sell Aug Soybeans(CBOT)

7/15

7/29

93

14

15

845

56/15

142

80 Buy "Red" Nov Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

7/17

8/11

93

14

15

1094

42/26

38

81 Buy 11 Sep Soybean Meal(CBOT)


Buy 09 Sep Soybean Oil(CBOT)
Sell 10 Sep Soybeans(CBOT)

8/12

8/24

80

12

15

2819

235/12

142

82 Buy Soybeans(CBOT)March

8/20

9/01

80

12

15

718

55/13

38

83 Buy Soybean Meal(CBOT)March

8/20

9/01

80

12

15

432

33/13

74

84 Buy 11 Dec Soybean Meal(CBOT)


Buy 09 Dec Soybean Oil(CBOT)
Sell 10 Nov Soybeans(CBOT)

8/29

9/07

87

13

15

1562

174/9

143

85 Sell Soybeans(CBOT)November

9/02

10/02

80

12

15

1458

47/31

39

86 Buy "Red" Nov Soybeans(CBOT)


Sell Nov Soybeans(CBOT)

9/12

10/03

87

13

15

573

26/22

39

87 Sell Soybean Meal(CBOT)December

9/16

10/06

87

13

15

874

42/21

74

88 Buy 2 Dec Soybean Meal(CBOT)


Sell 3 Dec Soybean Oil(CBOT)

9/20

10/12

80

12

15

1245

54/23

143

89 Sell Soybeans(CBOT)November

9/21

10/02

93

14

15

1246

104/12

40

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


MOORE RESEARCH CENTER, INC.

167

Chronological Summary

Chronological Summary of Strategies

Chronological Summary of Strategies

Chronological Summary

Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

90 Sell Soybean Meal(CBOT)May

9/21

10/02

93

14

15

91 Sell Soybean Oil(CBOT)December

9/21

10/03

80

12

92 Buy 2 Dec Soybean Meal(CBOT)


Sell 3 Dec Soybean Oil(CBOT)

10/02

10/12

87

13

93 Buy Mar Soybeans(CBOT)


Sell Sep Soybeans(CBOT)

10/04

12/19

80

94 Buy Soybean Meal(CBOT)December

10/05

11/16

95 Buy Soybeans(CBOT)January

10/06

96 Buy Dec Soybean Meal(CBOT)


Sell Jul Soybean Meal(CBOT)

Average
Profit

Ave PPD/
Days

Pg
No

669

56/12

75

15

557

43/13

107

15

1272

116/11

144

12

15

389

5/77

40

80

12

15

1067

25/43

75

12/26

80

12

15

2102

26/82

41

10/07

11/06

93

14

15

452

15/31

76

97 Buy May Soybeans(CBOT)


Sell Sep Soybeans(CBOT)

10/16

12/14

87

13

15

433

7/60

41

98 Buy Soybeans(CBOT)January

10/21

11/17

80

12

15

914

33/28

42

99 Buy Soybean Meal(CBOT)December

10/22

11/17

87

13

15

589

22/27

76

100 Buy Soybeans(CBOT)January

10/30

11/17

80

12

15

533

28/19

42

101 Buy Soybean Oil(CBOT)December

10/31

11/17

80

12

15

383

21/18

107

102 Buy Soybean Meal(CBOT)July

11/09

1/17

80

12

15

902

13/70

77

103 Buy Soybeans(CBOT)July

11/12

12/26

80

12

15

1258

28/45

43

104 Buy Jan Soybeans(CBOT)


Sell Jan Soybean Meal(CBOT)

11/05

11/29

80

12

15

373

15/25

144

105 Buy 2 Mar Soybean Meal(CBOT)


Sell 3 Mar Soybean Oil(CBOT)

11/27

1/16

87

13

15

1155

23/51

145

106 Buy Oct Soybean Oil(CBOT)


Sell May Soybean Oil(CBOT)

12/02

1/28

100

15

15

264

5/58

108

107 Buy Jan Soybean Meal(CBOT)


Sell Jan Soybean Oil(CBOT)

12/03

12/24

93

14

15

910

41/22

145

108 Buy Soybeans(CBOT)January

12/18

12/24

93

14

15

454

65/7

43

109 Buy Soybean Meal(CBOT)January

12/18

12/26

93

14

15

600

67/9

77

110 Buy Soybean Oil(CBOT)September

12/24

4/11

93

14

15

1023

9/110

108

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


168

HISTORICAL SOYBEAN COMPLEX REPORT

Chronological Summary of Strategies


Seasonal
Strategy

Entry
Date

Exit
Date

Win
Pct

Win Loss Total


Years Years Years

111 Buy Nov Soybeans(CBOT)


Sell Mar Soybeans(CBOT)

12/26

2/03

93

14

15

112 Buy Sep Soybean Oil(CBOT)


Sell May Soybean Oil(CBOT)

12/26

4/01

100

15

113 Buy Mar Soybeans(CBOT)


Sell Mar Soybean Meal(CBOT)

12/29

2/26

80

12

Average
Profit

Ave PPD/
Days

Pg
No

544

14/40

44

15

230

2/97

109

15

947

16/60

146

For other MRCI products and information: 1-800-927-7259


Or Website: http://www.mrci.com Email: sales@mrci.com
or (541) 484-7256 - Fax: (541) 484-0243
Note: These trade strategies have worked with historical consistency. No representation is being made that they will work this year or in the
future. Please check current market fundamentals and technical conditions before considering these trades. This information is not a
recommendation to buy or sell at this time, but merely a historical presentation of trade strategies. Past results are not necessarily indicative
of future results. No representation is being made that an account will or is likely to achieve profits or incur losses similar to those shown.
SEASONAL TENDENCIES ARE A COMPOSITE OF SOME OF THE MORE CONSISTENT COMMODITY FUTURES SEASONALS THAT HAVE OCCURRED OVER THE PAST 15 YEARS. THERE ARE USUALLY UNDERLYING
FUNDAMENTAL CIRCUMSTANCES THAT OCCUR ANNUALLY THAT TEND TO CAUSE THE FUTURES MARKETS TO REACT IN A SIMILAR DIRECTIONAL MANNER DURING A CERTAIN CALENDAR PERIOD OF THE YEAR. EVEN
IF A SEASONAL TENDENCY OCCURS IN THE FUTURE, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES, AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST OR WILL IN THE FUTURE ACHIEVE PROFITS UTILIZING THESE STRATEGIES. NO REPRESENTATION IS BEING MADE THAT PRICE PATTERNS WILL
RECUR IN THE FUTURE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED
FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. RESULTS NOT ADJUSTED FOR COMMISSION AND SLIPPAGE.

Copyright 1989-2009 Moore Research Center, Inc.


MOORE RESEARCH CENTER, INC.

169

Chronological Summary

* Caution: Trade exit is during delivery period. Longs may be subject to delivery.

Personal Notes
170

HISTORICAL SOYBEAN COMPLEX REPORT

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Anticipate future trading opportunities with


unlimited website access into:
Historical trading strategies - approximately 15 outright and 15 spread
strategies are featured each month, all at least 80% historically reliable
between specific dates.
Seasonal pattern charts - our stock-in-trade and updated monthly, can be of
value to traders even of a non-seasonal persuasion. This section contains over
250 charts displaying 5- and 15-year seasonal patterns for over 40 cash and
futures markets.
Correlation studies - Updated daily, evaluate up to 55 years of history
against current contracts and statistically determine which previous years
behaved most similarly to the current market for both futures and spreads.
Historical daily charts - you will find nearly 6,000 historical daily charts of
futures and cash markets as far back as 1910.
Option volatility charts - Daily, weekly and monthly charts reflecting the
15-year average of 20-day historical volatility, both its central tendency and
one standard deviation in either direction.

All material in this report


is copyrighted, and all rights are
reserved unless specifically stated
otherwise. Material is provided for
information only; no recommendation to buy or sell futures is made.
Opinions expressed are solely those
of the author(s). All information is
derived from sources believed to be
reliable, but MRCI does not
guarantee its accuracy. Any losses
resulting from following information
contained herein are the sole
responsibility of the reader. While
representatives of MRCI may have a
position in and/or intend to buy or
sell futures referred to, their positions
and intentions may not necessarily be
consistent with the enclosed material.
When reviewing performance
results, please consider the added
impact of transaction costs and
slippage. Market conditions may
prevent execution of a stop-loss order
at its specified price. Also, results
shown in this report do not include
a deduction for transaction costs
(commissions and fees).

MOORE RESEARCH CENTER, INC.

Scenario Analysis - studies up to 45 years of history to determine if and/or


when the direction of a monthly close has been statistically significant.
Emailed weekly updates - transmitted every Wednesday afternoon.
Monthly long-term charts - 8-1/2 x 11-inch Adobe PDF nearby charts with
volume and open interest.
Howes limit rule and open limits - Updated daily, lists active futures contracts which have reached but not exceeded a limit price within the last year.

Plus a whole lot more with NEW features added regularly!


For other MRCI products and information: 800-927-7259
or (541) 484-7256 - Fax: (541) 484-0243
Website: http://www.mrci.com Email: sales@mrci.com
Address: 85180 Lorane Highway Eugene, OR 97405
THERE IS A RISK OF LOSS IN FUTURES TRADING.

173

MRCI Fax Order Form (541) 484-0243


MRCI Subscription Rates
Period

Each 60 to 80-page monthly report presents


historical detail on as many as 15 seasonal and 15
spread strategies, each at least 80% historically
reliable between specific dates; includes other
technical studies, computer analyses and articles
by industry professionals.

Mailed

12 Issues/1 Year
6 Issues/6 Months
3 Issues/3 Months
Back Issue
Extra Copy/Per Mth

Online

$499
299
169
45
19

$379
219
129

1 Year
6 Months
3 Months
1 Months

The Weekly Spread Commentary discusses two


upcoming seasonal spread strategies and is sent via
e-mail each Friday.

Both

Total

$799
469
269

135
99
55
19

U.S. funds please. International shipments are an additional $15.00 per month (except Canada). Express shipment costs subject to destination.

Special Reports are Hardcopy Only

SPECIAL HISTORICAL REPORTS

Seasonal Pattern Charts - features 5- and 15- year


seasonal and Bull/Bear patterns for each contract
of over 60 major U.S. and International futures and
cash indices of major U.S. and International stock
markets.

Seasonal Pattern Charts (200+Pages)


**Market Seasonal Patterns Report (20 Pages)
**2009 Soybean Complex (170+ Pages)
**2009 Grains (135+ Pages)
**2008 Soybean/Grain Spread (140+ Pages)
**2009 Live Cattle/Feeder Cattle (140+ Pages)
**2009 Lean Hogs/Pork Bellies (110+ Pages)
**2009 Live Cattle/Lean Hog Spread (45+ Pages)
**2009 Lumber (86+ Pages)
**2008 Metals (80+ Pages)
**2008 Forex (130+ Pages)
**2008 Interest Rates (120+ Pages)
**2008 Indices (100+ Pages)
2008 Energy (270+ Pages)
2008 Softs (150+ Pages)
**2009 Dairy (108+ Pages)

Special Historical Reports feature year-round


seasonal analysis for the complex, including 15year seasonal and spread patterns (also cash and
basis if available) and specific trading and spread
strategies of 80%-or- greater historical reliability.

Shipping & Handling is an additional $5.00 per report. ($15 for Intl Air Mail).
Express International shipment costs subject to destination.

Price

$124
49
149
149
69
89
89
49
69
89
89
89
89
149
149
69
Shipping

* All new subscriptions are set to auto-renew unless paid by check/money order, Paypal, or otherwise specified by the customer. This
prevents your subscription access from accidentally expiring. We will automatically bill your credit card 1-week before your
subscription is set to expire. If you want your subscription to auto-renew, but the credit card information is no longer valid, login to
your account https://www.mrci.com/catalog/account.php and click "update credit card info."
**Reports available in PDF format via Email less $10.00 each in price and no shipping and handling charges.
Prices and rates current as of April, 2008 and are subject to change without notice.
THERE IS RISK OF FINANCIAL LOSS IN FUTURES TRADING.

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174

HISTORICAL SOY COMPLEX REPORT

Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contracts value is required to trade, it is possible to lose more than the
amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade
because they cannot expect to profit on every trade.
All references to options refer to options on futures.
The Globe Logo, CME, Chicago Mercantile Exchange, CME Group, Globex and CME EOS Trader are trademarks of Chicago Mercantile Exchange Inc. CBOT is the trademark of the Board of Trade of the City of Chicago.
NYMEX is a trademark of New York Mercantile Exchange, Inc.
The information within this document has been compiled by CME Group for general purposes only. Although every attempt has been made to ensure the accuracy of the information within this document, CME Group
assumes no responsibility for any errors or omissions. Additionally, any examples in this document are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the
results of actual market experience.
All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT and CME Group rules. Current rules should be consulted in all cases concerning contract specifications.
Copyright 2008 CME Group. All rights reserved.

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AC306.6/0/0109

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