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.