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Q1) Show a supply or demand curve shift for the following article...(make only one shift)

U.S. Data Sink Corn, Soybeans

Majority of grain and oilseed futures are traded on Chicago Board of Trade (CBOT).  Government estimates released on Monday, January 12, 2009 sent CBOT grain and oilseed futures plunging amidst concerns regarding world-wide recession.  Both corn and soybean markets fell - March corn fell 30 cents to $3.8075 per bushel while January soybeans fell 83.50 cents to $9.54 per bushel. Analysts had expected corn and soybean production to drop because of a late harvest. Demand for both is down as global economic recession.

Greatest use for corn is feed for livestock including cattle, hogs and poultry. Corn is also processes into everyday food items like corn oil, cornstarch and corn sweeteners. Non-food uses comprise alcohol for ethanol, absorbing agents for disposable diapers and adhesives for paper products. Soybeans have wide range of uses from food to feed to industrial products. Bio-diesel fuel is becoming important new source of energy and soybean oil is primary component. Any weather problem will decrease potential yield for corn and soybeans. Market requires a boost to compel farmers to plant more corn and soybean acres this year.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M922762

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