Federal regulators say Kraft Foods fixed wheat prices

April 2, 2015 12:12 AM

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Regulators say Kraft Foods Group saved more than $5 million by using an illegal wheat buying strategy.

Kraft and Mondelez Global, investigators said, executed the initial move in December 2011 to buy up $90 million worth of wheat futures -- but never had the intention of taking delivery of the crop. What the companies did intend, the CFTC alleges, was for the cost of wheat to drop as a result of that...

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