Ferruzzi Releases Letters: Ferruzzi S.p.A., the Italian...

Ferruzzi Releases Letters: Ferruzzi S.p.A., the Italian agricultural giant that plans to sue the Chicago Board of Trade after being ordered to liquidate large positions in soybean futures, released letters of protest in support of its free-market stance from the grain buying agencies of the Soviet Union and China. Several independent traders and firms have privately come out in support of Ferruzzi in its dispute with the Board of Trade’s directors after they voted last week to force holders of July soybean contracts to liquidate those positions to prevent a possible default. The exchange’s order drove the price of the July contract down sharply, prompting Ferruzzi to promise a lawsuit to recover the losses.