- Marking their first detailed rebuttal, Kraft Foods (KRFT) and Mondelez (NASDAQ:MDLZ) have petitioned a judge to dismiss two counts of manipulating grain prices, stating they acted rationally in the face of a "dysfunctional" wheat market.
- In April, the U.S. Commodity Futures Trading Commission accused the two of devising a strategy to depress the cash price of wheat, while inflating the price of futures contracts.
- Previously: Kraft, Mondelez charged by CFTC with manipulation of wheat futures (Apr. 01 2015)