According to an article in the Wall Street Journal, in early
2017, President Donald Trump was considering whether
to reverse a requirement by the Environmental Protection Agency that oil refiners increase the amount of ethanol they blend with gasoline. If the requirement were to
remain, the result would be an increase in demand for
ethanol, which is made from corn. Many U.S. farmers can
use the same acreage to grow either corn or soybeans. Use
a demand and supply graph to analyze the effect on the
equilibrium price of soybeans resulting from an increase
in the demand for corn.
Source: Siobhan Hughes, Natalie Andrews, and Kristina Peterson,
“Senate Looks to Move Fast on Trump Administration Hearings,
Health Law,” Wall Street Journal, January 8, 2017.