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Suit alleging Kraft Foods manipulated wheat prices can go ahead, judge rules

Suit alleging Kraft Foods manipulated wheat prices can go ahead, judge rules

Few firms need wheat as much as Kraft Foods, which uses it to make snacks including Oreos, Ritz crackers, Triscuits, Wheat Thins and Chips Ahoy!

But the food giant hasn't always paid what it should for the cereal grain, according to federal regulators, who say executives at the Northfield-based firm cooked up a scheme to manipulate the wheat market.

And on Friday, U.S. District Judge John Robert Blakey gave the go-ahead to a lawsuit brought by the U.S. Commodity Futures Trading Commission that alleges Kraft used its financial heft to illegally drive down wheat prices in 2011.

In a 47-page opinion, Blakey rejected Kraft's attempt to have the lawsuit tossed, ruling that...

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