Table 36.  Significance Tests of the Percentage Difference Between the Average Price for Market Advisory Programs and the Average Benchmark Price, Corn, Soybeans and 50/50 Advisory Revenue, 1995 - 2003 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 Difference Error t-statistic p-value
---%--- ---%---
Corn
  Market Benchmarks:
    24-Month Average  4.8 -0.9 -0.4 -3.4 -1.4 1.8 -0.9 2.1 0.5 Text Box: *
0.2
0.8 0.31 0.77
    20-Month Average  -1.1 -1.4 2.0 2.2 2.5 5.7 2.3 2.9 0.8 1.8 0.7 2.45 0.04
  Farmer Benchmark: Text Box: **
    USDA Average Price Received -0.9 4.9 3.8 9.9 4.7 9.0 1.9 2.0 1.2 4.1 1.2 3.44 0.01
Soybeans
  Market Benchmarks:
Text Box: **
Text Box: *
    24-Month Average  5.3 2.7 1.4 -0.7 3.2 0.3 2.1 5.3 4.5 2.7 0.7 3.75 0.01
    20-Month Average  3.2 0.8 2.5 3.1 7.1 1.2 4.5 2.8 -2.0 2.6 0.8 3.05 0.02
  Farmer Benchmark:
    USDA Average Price Received 0.1 1.4 3.4 12.3 5.2 2.8 -1.8 -3.1 -14.4 0.6 2.4 0.26 0.80
 
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 Text Box: **
1.3
0.7 1.93 0.09
    20-Month Average  0.7 -0.5 2.2 2.7 4.5 3.9 3.3 3.1 -0.2 2.2 0.6 3.64 0.01
  Farmer Benchmark:
    USDA Average Price Received -0.5 3.2 3.6 11.1 4.9 6.5 0.2 -0.2 -5.1 2.6 1.6 1.68 0.13
                           
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.