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De La Salle University – Dasmariñas

APPENDIXES
De La Salle University – Dasmariñas

3 diagnostic tests): 1. No serial correlation, 2. No heteroscedasticity, 3. Residuals are

normally distributed
De La Salle University – Dasmariñas

APPENDIX FIGURES
De La Salle University – Dasmariñas

which amounts to a total of more than 1,500 pounds of corn consumed annually.

(NathanF, 2015)

Even though the US is considered to be the largest exporter of corn in the world,

less than 15 percent share of the demand for the US corn is accounted by the exports,

which is actually small. This occurrence has something to do with the demand-and-

supply-relationship of corn, resulting to the other markets adjusting to the US market’s

current price. Because of this internationally tough competition, farmers plant their corn

after considering the size of the US crop in order to have a market advantage over the

short US crops. In fact, some countries like Brazil, India, and South Africa had significant

corn exports when international prices are competitive, or the crops are large. (United

States Department of Agriculture Economic Research Service [USDA ERS], 2017)


De La Salle University – Dasmariñas

APPENDIX TABLES

of all the produced grain. In 2015, about 80 million acres of farmland are being

planted with corn, and the world is being supplied with 20 percent of the American corn.
De La Salle University – Dasmariñas

While it is true that the US is maintaining its current reputation as an international

exporter of corn, what remains from these corns is not entirely wasted. Given that corn is

the primary crop grown in the US, every man, woman, and child consumes four pounds

of corn a day, which amounts to a total of more than 1,500 pounds of corn consumed

annually. (NathanF, 2015)

Even though the US is considered to be the largest exporter of corn in the world,

less than 15 percent share of the demand for the US corn is accounted by the exports,

which is actually small. This occurrence has something to do with the demand-and-

supply-relationship of corn, resulting to the other markets adjusting to the US market’s

current price. Because of this internationally tough competition, farmers plant their corn.