Table 32. Significance Tests of Average Advisory Program Returns, Corn, Soybeans and 50/50 Advisory Revenue, 1995 - 2004 Crop Years, Commercial Storage Costs and Harvest LDP for Market Benchmarks
                             
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
--- per bushel (harvest equivalent)--- --- per bushel (harvest equivalent)---
Corn
Market Benchmarks:
24-Month Average 14 -2 -1 -2 -10 -7 -7 4 -1 0 -1 2 -0.54 0.60 -3
20-Month Average -4 -4 4 9 -2 -2 -2 6 0 3 1 1 0.58 0.57 -4
Farmer Benchmarks: Text Box: **
USDA Prices -3 12 9 20 9 18 4 4 3 12 9 2 3.99 0.00
Market Prices -29 21 15 25 13 19 8 6 -1 35 11 6 2.06 0.07
--- per bushel (harvest equivalent)--- --- per bushel (harvest equivalent)---
Soybeans
Market Benchmarks:
Text Box: **
Text Box: *
24-Month Average 33 19 8 11 7 -5 -7 25 27 6 12 4 2.94 0.02 -3
20-Month Average 20 6 16 34 25 0 2 13 -13 0 10 4 2.31 0.05 -4
Farmer Benchmarks:
USDA Prices 1 10 21 64 28 15 -10 -17 -105 38 4 14 0.31 0.76
Market Prices -17 14 30 77 31 21 -4 -16 -148 58 5 19 0.24 0.82
---$ per acre (harvest equivalent)--- ---$ per acre (harvest equivalent)---
50/50 Revenue
Market Benchmarks:
24-Month Average 15 2 1 2 -6 -6 -8 10 5 2 2 2 0.73 0.49 -3 -0.67
20-Month Average 2 -2 7 15 4 -1 -1 8 -3 3 3 2 1.83 0.10 -4 -0.56
Farmer Benchmarks:
USDA Prices -1 11 11 30 14 18 1 -1 -17 22 9 4 2.01 0.08
Market Prices -21 19 18 38 18 21 5 1 -29 48 12 7 1.58 0.15
                             
Notes: Two stars indicates significance at the one percent level and one star indicates significance at the five percent level.