Since the 1960s, the world consumption of soy increased by more than 700% due to population and income growth. However, in the same period, the price of soy decreased by 50%. Which of the following can explain the drop in price together with the large rise in consumption?

The price of pork increased (soy is used as animal feed).

The price of corn increased (corn can be produced in the same land instead of soy in many regions).

The price of land for soy farming increased

Productivity of soy farming increased due to technological development.

The price of wheat decreased (soy is a close substitute for wheat in many countries).

Give explanation also