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Financials / Features

Doug Ashburn

Get Shorty: The Year Ferruzzi Spun A Soybean Tale

Short crops, as the old saying goes, have long tails. In the case of the 1988-89 drought-shortened soybean crop, the other kind of tale also was told with Italians, a squeeze, lawsuits and a stuffed envelope. Twenty-five years ago today, July 11, 1989, the Chicago Board of Trade issued an emergency liquidation order for its soon-to-expire July soybean contract. That order was tied to a large accumulation of July beans by Italian processor Ferruzzi Finanziaria, … 

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