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| Table 1. Net
Returns and Statistical Tests for Pre-harvest
Marketing Strategies vs. Harvest Cash Sales: Ohio
And Iowa Study, 1985-1996. |
| |
-----------------------------------
Net Return -----------------------------------
|
| Strategies |
Crop
|
Average
|
Std. dev. ($)
|
Coeff. of Var ($)
|
Significance
level (%) *
|
| Synthetic put |
| Ohio |
Soybeans
|
$59,280
|
$11,318
|
19.1
|
0.97
|
| Iowa |
Soybeans
|
80,046
|
32,757
|
40.9
|
1.19
|
| Mixed Hedge/Put |
| Ohio |
Corn
|
62,284
|
26,787
|
43.0
|
3.75
|
| Iowa |
Corn
|
62,591
|
39,697
|
63.4
|
3.48
|
| Harvest Cash Sale |
| Ohio |
Soybeans
|
52,680
|
13,391
|
31.9
|
|
| Iowa |
Soybeans
|
72,764
|
31,745
|
38.8
|
|
| Ohio |
Corn
|
53,941
|
24,291
|
42.8
|
|
| Iowa |
Corn
|
53,251
|
35,378
|
80.4
|
|
| * Probability of income
gains vs. harvest cash sales occurring due to
random chance. |
|