Kraft Heinz and Mondelēz ordered to pay $16 million in fines

[tacobell fan]

The U.S. Commodity Futures Trading Commission punished the companies with a $16 million penalty over alleged manipulation of the wheat market.

[tacobell fan]

Kraft Heinz, which was Kraft Foods until 2015, and Mondelez bought $90 million of December 2011 wheat futures, which gave the companies a dominant position in the market, even though they never intended to take possession of the grain, the CFTC said.

[tacobell fan]

The companies do not agree with the CFTC decision

 

Both companies said the CFTC's statements “blatantly violate and misrepresent the terms and spirit of the consent order”, and will be seeking immediate relief from the court.

[tom brady]

Manchi long term position cheyocchu konni after a month or 2