Another lawsuit claims ADM manipulated ethanol prices
Another lawsuit is claiming Archer Daniels Midland manipulated the ethanol market. Six Wisconsin and one Iowa ethanol producer filed suit last week against ADM claiming the large grain buyer and ethanol producer violated the Sherman Act’s monopoly provisions along with several state business regulations in Iowa, Illinois, and Wisconsin by artificially depressing the price of U.S. ethanol.
United Wisconsin Grain Producers, Didion Ethanol, Ace Ethanol, Fox River Valley Ethanol, Badger State Ethanol and also Pine Lake Corn from Iowa filed the latest suit in an Illinois District Court.
The U.S. District Court in Central Illinois has three similar lawsuits against ADM brought by Midwest Renewable Energy in Wisconsin, Green Plains Inc. from Nebraska, and AOT Holdings from Switzerland. All the plaintiffs allege ADM intentionally depressed ethanol prices with its 70% control of the Argo, Illinois terminal market.