UPDATE 1-U.S. CFTC sues Kraft, Mondelez over alleged wheat price manipulation

April 1, 2015 9:03 PM

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WASHINGTON, April 1 (Reuters) - The U.S. Commodity Futures Trading Commission on Wednesday charged Kraft Foods Group Inc and Mondelez Global LLC with manipulation of prices of wheat used in products such as Oreo and Chips Ahoy! cookies.

The regulator alleged that Kraft and Mondelez bought $90 million of wheat futures, or a six-month supply, but never intended to take delivery of the wheat.

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