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Kyuhwan L

Corn, Soybeans Decline on Slowing Demand for U.S. Supplies - 0 views

www.bloomberg.com/...g-demand-for-u-s-supplies.html

Corn Soybean Producers consumers demand supply allocative inefficiency Supplier's Surplus Equilibrium Price Mechanism

shared by Kyuhwan L on 16 Oct 12 - No Cached
  • Kyuhwan L on 16 Oct 12
     
    Corn and Soybean prices fell as buyers are moving away from American producers to suppliers in South America such as Brazil and Argentina. Due to the declining demand, there will be allocative inefficiency and supplier's surplus with American corn and soybean. The equilibrium is not achieved, however the price mechanism could perhaps self-right the graph by lowering price and allow the supply to be harmonious with demand.
Seyeon O

American Drought - 0 views

www.bloomberg.com/...first-time-in-38-years-1-.html

javascript:void(0);javascript:void(0);javascript:void(0);United States;price mechanism

shared by Seyeon O on 13 Oct 12 - No Cached
  • Seyeon O on 13 Oct 12
     
    The drought damaged the corn and soybean fields in the U.S. This caused drop in supplies in two crops to below year-earlier consumption levels for the first time since 1974. Prices have rose from 8.49 on August to $18 on September, but dropped again to $15.04 on October 3. This clearly shows both swift in supply, which set a new market equilibrium and price mechanism that adjusts the price of a product the new equilibrium. As the natural disaster swifted the supply curve, the price rose, but because the price was out of equilibrium price, the price dropped..
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