58 
BULLETIN 1480, U. S. DEPARTMENT OF AGRICULTURE 
Table 28 shows a comparison between December 1 prices of cotton, 
wheat, and corn and the season average of monthly prices of cotton 
and wheat weighted by current monthly marketings for each year 
and the season averages of monthly prices of corn weighted by the 
usual rate of monthly marketings. The plus correlations between 
GROSS VALUES OF CROP PRODUCTION WHEN 
DEC. I PRICES AND WEIGHTED ANNUAL 
MONTHLY PRICES ARE USED AS 
A MEASURE OF VALUE 
Fig. 14. — The two measures of the value of crop production show the same general trend. 
The correlation between the two trends is + 0.997, whereas the correlation of relative 
values from year to year expressed as a percentage is + 0.979 
the two series were cotton, 0.974; corn, 0.982; and wheat, 0.974. 
The greatest differences occur in the years of rapidly changing price 
levels. 
Table 28.- 
-Decemoer 1 prices and the season average prices of cotton, corn, 
and wheat, 1909-1924 
Year 
Cotton 
(cents per pound) 
Corn 
(cents per bushel) 
Wheat 
(cents per bushel) 
Dec. 1 
Season 
average l 
Dec. 1 
Season 
average 2 
Dec. 1 
Season 
average l 
1909. 
13.9 
14.1 
8.8 
11.9 
12.2 
6.8 
11.3 
19.6 
27.7 
27.6 
35.6 
13.9 
16.2 
23.8 
31.0 
22.6 
13.6 
14.0 
9.6 
11.5 
12.5 
7.4 
11.2 
17.3 
27.1 
28.8 
35.2 
15.8 
17.0 
22.8 
28.7 
22.9 
58.6 
48.0 
61.8 
48.7 
69.1 
64.4 
57.5 
88.9 
127.9 
136.5 
134.5 
67.0 
42.3 
65.8 
72.6 
98.2 
63.7 
53.6 
69.6 
57.0 
71.9 
72.7 
70.1 
124.2 
147.6 
152.1 
150.1 
62.6 
53.4 
76.6 
83.1 
106.8 
98.4 
88.3 
87.4 
76.0 
79.9 
98.6 
91.9 
160.3 
200.8 
204.2 
214.9 
143.7 
92.6 
100.7 
92.3 
129.9 
100.7 
1910 
91.7 
1911 
88.3 
1912 
83.3 
1913 
79.3 
1914 
99.4 
1915 
98.2 
1916 
144.4 
1917 
205.8 
1918 
206.3 
1919 
218.6 
1920 
182.9 
1921 
104.4 
1922 
98.0 
1923 
92.4 
1924.. 
127.8 
16-year average 
18.6 
18.5 
77.6 
88.4 
122.5 
126.3 
1 Season average based on monthly marketings for the current year except 1909, 
3 Season average based on the usual rate of monthly marketings. 
