Kraft Foods Group and Mondelez Global have agreed to pay a $16 million penalty for alleged manipulation in the wheat futures market. In 2015, Kraft reportedly influenced the price of wheat by taking a huge position in the market while never intending to take delivery. A similar settlement was made last year, but the situation resurfaced when the companies accused the Commodity Futures Trading Commission of violating a gag order about the case.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.