Kraft Foods emails lay out plan to depress U.S. wheat prices -CFTC

April 2, 2015 6:30 AM

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CHICAGO, April 2 (Reuters) - Emails between former senior executives at Kraft Foods, including its chief financial officer and a top procurement director, are among the evidence in a U.S. lawsuit accusing the company and Mondelez International of manipulating wheat prices.

The U.S. Commodity Futures Trading Commission (CFTC) on Wednesday accused Kraft Foods Group and Mondelez of making massive bets in Chicago's futures markets in late 2011 as part of a plot to drive down the physical price for wheat they used to make products ranging from Oreos to Ritz crackers.

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