Swiss company suing ADM for allegedly manipulating Argo ethanol market

In Illinois, Reuters reports that a Swiss energy trading company has filed suit against Archer Daniel Midland in US District Court in Urbana, accusing the global grain and ethanol giant of manipulating ethanol prices in order to profit from a short position it held in the futures market. The suit says the company would aggressively sell ethanol 30 minutes before the Argo terminal market closed in order to push down prices, so the Swiss company is seeking $6.33 million in damages from ADM.