| Table 42. Comparison of Average Price or Revenue between Futures and Options Advisory Programs and Cash Only Programs, Corn, Soybeans and 50/50 Revenue, 1995-2004 Crop Years, Commercial Storage Costs | |||||||||||||||
| Commodity/ | Number of | Average Net Advisory Price or Revenue | Standard | Two-tail | |||||||||||
| Program Category | Programs | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | Average | Error | t-statistic | p-value |
| ---$ per bushel (harvest equivalent)--- | |||||||||||||||
| Corn: | |||||||||||||||
| Futures and Options Programs | 32 | 3.04 | 2.61 | 2.33 | 2.16 | 2.03 | 2.14 | 1.99 | 2.13 | 2.24 | 2.32 | 2.30 | |||
| Cash Only Programs | 9 | 3.01 | 2.68 | 2.30 | 2.18 | 2.01 | 2.09 | 1.96 | 2.21 | 2.24 | 2.23 | 2.29 | |||
| Difference | 0.03 | -0.08 | 0.03 | -0.02 | 0.01 | 0.05 | 0.04 | -0.08 | 0.00 | 0.09 | 0.01 | 0.02 | 0.47 | 0.65 | |
| ---$ per bushel (harvest equivalent)--- | |||||||||||||||
| Soybeans: | |||||||||||||||
| Futures and Options Programs | 31 | 6.64 | 7.28 | 6.42 | 5.87 | 5.74 | 5.48 | 5.44 | 5.22 | 6.18 | 6.08 | 6.04 | |||
| Cash Only Programs | 9 | 6.47 | 7.24 | 6.28 | 5.68 | 5.51 | 5.34 | 5.46 | 5.31 | 6.36 | 6.05 | 5.97 | |||
| Difference | 0.16 | 0.04 | 0.14 | 0.18 | 0.23 | 0.13 | -0.02 | -0.08 | -0.17 | 0.04 | 0.07 | 0.04 | 1.62 | 0.14 | |
| ---$ per acre (harvest equivalent)--- | |||||||||||||||
| 50/50 Revenue: | |||||||||||||||
| Futures and Options Programs | 31 | 321 | 367 | 312 | 305 | 300 | 300 | 287 | 293 | 323 | 380 | 319 | |||
| Cash Only Programs | 9 | 315 | 372 | 307 | 302 | 294 | 292 | 285 | 300 | 326 | 371 | 316 | |||
| Difference | 5 | -6 | 5 | 3 | 7 | 8 | 2 | -7 | -3 | 9 | 2 | 2 | 1.34 | 0.21 | |
| Notes: Advisory programs are categorized as "futures and options programs" and "cash only programs" based on the names provided by advisory services. Some cash only programs actually may occasionally recommend futures and options positions. The difference for a given crop year may not equal the differnce for the reported prices or revenues due to rounding. | |||||||||||||||