Table 31.  Significance Tests of the Average Advisory Program Percentage Returns, Corn, Soybeans and 50/50 Advisory Revenue, 1995 - 2004 Crop Years, Commercial Storage Costs
                             
Commodity/ Difference Between Average Advisory Program and Benchmark   Average  Standard Two-tail
Benchmark 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Difference Error t-statistic p-value
---%--- ---%---
Corn
  Market Benchmarks:
    24-Month Average  4.8 -0.9 -0.4 -3.3 -1.5 1.8 -0.9 2.1 0.5 5.0 0.7 0.9 0.83 0.43
    20-Month Average  -1.1 -1.4 2.0 2.2 2.5 5.7 2.3 2.9 0.8 6.9 Text Box: *
2.3
0.8 2.76 0.02
  Farmer Benchmarks:
    USDA Prices -0.9 4.9 3.8 9.9 4.7 9.0 1.9 2.0 1.2 5.7 Text Box: **
4.2
1.1 3.95 0.00
    Market Prices -8.7 8.7 7.0 12.8 6.9 10.0 4.2 3.1 -0.4 18.0 Text Box: *
6.2
2.3 2.66 0.03
Soybeans
  Market Benchmarks:
    24-Month Average  5.3 2.7 1.3 -0.7 3.2 0.3 2.1 5.3 4.5 3.0 Text Box: **
2.7
0.6 4.25 0.00
    20-Month Average  3.2 0.8 2.5 3.1 7.1 1.1 4.5 2.8 -2.0 2.0 Text Box: **
2.5
0.8 3.33 0.01
  Farmer Benchmarks:
    USDA Prices 0.1 1.4 3.4 12.3 5.2 2.8 -1.8 -3.1 -14.4 6.7 1.2 2.2 0.56 0.59
    Market Prices -2.6 2.0 5.0 15.3 5.8 4.0 -0.8 -3.0 -19.2 10.6 1.7 2.9 0.58 0.58
50/50 Revenue
  Market Benchmarks:
    24-Month Average  5.0 0.6 0.3 -2.0 0.6 1.4 0.4 3.7 2.0 4.0 Text Box: *
1.6
0.7 2.38 0.04
    20-Month Average  0.7 -0.5 2.2 2.7 4.5 3.9 3.3 3.1 -0.2 4.6 Text Box: **
2.4
0.6 4.12 0.00
  Farmer Benchmarks:
    USDA Prices -0.5 3.2 3.6 11.1 4.9 6.5 0.2 -0.2 -5.1 6.1 3.0 1.4 2.06 0.07
    Market Prices -6.1 5.5 6.0 14.1 6.3 7.6 1.8 0.5 -8.1 14.6 4.2 2.4 1.77 0.11
                             
Notes: For a given year, percentage difference is computed as the percentage difference between the average advisory price or revenue and the benchmarks. Two stars indicates significance at the one percent level and one star indicates significance at the five percent level.