A federal judge in Chicago refused to dismiss a lawsuit in which wheat traders accuse Kraft Foods and Modelez International of illegally manipulating the grain's price at their expense. The judge on Monday said traders may pursue claims that a large, late 2011 purchase by Kraft Foods of wheat futures contracts violated the Sherman antitrust law and the Commodity Exchange Act, according to Reuters. Many of the allegations were similar to those raised by the U.S. Commodity Futures Trading Commission in an April 2015 lawsuit. The CFTC said Kraft Foods bought $90 million of December 2011 wheat futures, giving it a dominant position in that market, despite never intending to take possession of the grain, to depress prices in the cash wheat market.
Welcome
