NAGEL v. ADM INVESTOR SERVICES, INC.

No. 96 C 2675 et al.

65 F.Supp.2d 740 (1999)

Dennis NAGEL, et al. v. ADM INVESTOR SERVICES, INC., et al.

United States District Court, N.D. Illinois, Eastern Division.

As Amended September 3, 1999.


Attorney(s) appearing for the Case

Adam K. Hollander, Mayer, Brown & Platt, Chicago, IL, Joel J. Bellows, Laurel G. Bellows, Nicholas P. Iavarone, Christopher L. Gallinari, Bellows & Bellows, Chicago, IL, Rebecca J. Wing, Chicago, IL, for Dennis Nagel, Darlene Nagel.

Timothy C. Klenk, Richard J. Rappaport, Alison C.B. Laing, Amy Beth Manning, Ross & Hardies, P.C., Chicago, IL, for ADM Investor Services, Inc.

Mark M. Lyman, Henery Karl Becker, Daniel G. Dolan, Jr., John D. Ruark, Henderson, Becker & Lyman, Chicago, IL, Jeffry Mark Henderson, Patrick Gerard King, Henderson and Lyman, Chicago, IL, for Brighton Commodities, Inc.

James L. Fox, Abramson & Fox, Chicago, IL, Kenneth M. Snodgrass, Jr., James Roland Grebe, Goldsworthy, Fifield & Hasselberg, Peoria, IL, for Oberbeck Feed Co.


Opinion

EASTERBROOK, Circuit Judge.

Plaintiffs in these five consolidated actions (Nos. 96 C 2675, 96 C 2741, 96 C 2879, 96 C 2972, and 96 C 5215) are farmers who entered into hedge-to-arrive (HTA) contracts with grain merchants (including grain elevators). Under a standard hedge-to-arrive contract the farmer promises to deliver a stated quantity of grain for a price linked to the price of a futures contract that expires...

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