Table 25.  Comparison of Survivor and Grand Averages, Corn, Soybeans and 50/50 Revenue, 1995-2004 Crop Years, Commercial Storage Costs
                   
2003-04 2002-04 2001-04 2000-04 1999-04 1998-04 1997-04 1996-04 1995-04
Two-Year Three-Year Four-Year Five-Year Six-Year Seven-Year Eight-Year Nine-Year Ten-Year
Commodity/Average Average Average Average Average Average Average Average Average Average
---$ per bushel (harvest equivalent)---
Corn
  Survivor Average 2.28 2.24 2.17 2.18 2.16 2.17 2.19 2.23 2.30
  Grand Average 2.27 2.23 2.17 2.16 2.14 2.14 2.16 2.21 2.29
    Difference 0.01 0.01 0.01 0.02 0.02 0.03 0.03 0.02 0.01
 ---$ per bushel (harvest equivalent)--- 
Soybeans
  Survivor Average 6.13 5.83 5.74 5.68 5.68 5.73 5.81 5.97 6.00
  Grand Average 6.15 5.84 5.74 5.68 5.68 5.70 5.78 5.94 6.00
    Difference -0.01 -0.01 -0.01 -0.01 0.00 0.03 0.04 0.04 0.00
---$ per acre (harvest equivalent)---
50/50 Advisory Revenue
  Survivor Average 351 332 321 318 315 315 314 320 318
  Grand Average 351 332 320 316 313 312 312 318 318
    Difference 0 0 0 2 2 3 3 2 0
Notes:  Net advisory revenues and benchmark revenues are stated on a harvest equivalent basis. A crop year is a two-year marketing window from September of the year previous to harvest through August of the year after harvest. “Survivor averages” are based on advisory programs active in all crop years of a given averaging period.  “Grand averages” are based on all advisory programs active in a given averaging period , whether they “survived” the entire period or not.  The measure of survivorship bias for each averaging period is simply the difference between the survivor and grand averages.  Average differences may not equal the difference between the reported survivor and grand averages due to rounding.
                   
         
Notes:  N/A denotes "not applicable" -- program did not exist or was not evaluated for that marketing year. Net advisory revenues and benchmark revenues are stated on a harvest equivalent basis. A crop year is a two-year marketing window from September of
0.89 0.05
0.33 0.03
-0.04 0.02
-0.04 0.00
0.08 0.02
0.25 0.02
-0.02 0.01
-0.04 0.00
-0.09 0.00
-0.07 0.01
-0.05 0.03
-0.10 0.01
-0.31 0.02
-0.20 0.02
-0.35 0.01
-0.28 0.02
-0.14 0.04
-0.43 0.03
-0.03 0.02
-0.06 0.02
0.298544 0.013025547