Table 8.  Average Returns above Alternative Market Benchmark Prices for Advisory Service Programs, Corn, 1995 - 1997
           
Average  
Number of Return above
Market Benchmark/ Advisory Benchmark Standard Two-tail
Sample Period Programs Price Deviation t-statistic p-value
    (%) (%)      
 
24-Month Average
1995 25 3.97 11.10 1.79 0.086 *
1996 26 -1.23 8.49 -0.74 0.466
1997 23 -0.54 7.83 -0.33 0.745
1995-1997 74 0.74 9.44 0.68 0.501
20-Month Average
1995 25 -1.73 11.10 -0.78 0.445
1996 26 -1.61 8.49 -0.97 0.343
1997 23 2.07 7.83 1.27 0.218
1995-1997 74 -0.51 9.31 -0.47 0.642
12-Month Average
1995 25 -17.37 11.10 -7.83 0.000 ***
1996 26 8.26 8.49 4.96 0.000 ***
1997 23 8.44 7.83 5.17 0.000 ***
1995-1997 74 -0.34 15.29 -0.19 0.850  
Note:  Three stars indicates significance at the 1% level, two stars indicates significance at the 5% level, and one star indicates significance at the 10% level.