CHICAGO SOYBEAN CASE
October 1st, 2002
BY PHILIP FINE
THE CHICAGO Board of Trade is being sued in the US District Court in Chicago for a 1989 decision that forced the owners of large amounts of soybean futures contracts to sell their positions. Farmer Harvey Joe Sanner is alleging that the Board knew its order would cause prices to drop, thereby benefiting the trading firm of one of its directors. At the time, the Board had claimed that its order was aimed at preventing an Italian firm Ferruzzi Finanziaria SpA from cornering the market; it said that it had been aggressively buying futures. Sanner, a ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.