May 2 Kraft Foods Group Inc said in a
filing on Friday that U.S. regulators were probing wheat futures
trading by businesses now owned and operated by Mondelez
International Inc, which it spun off in 2012.
Kraft said the probe by the Commodity Futures Trading
Commission was centered on activities related to the trading of
December 2011 wheat futures contracts.
Kraft said both companies were cooperating with CFTC staff
in its investigation.
"While the staff has advised us that they are prepared to
recommend that the Commission consider commencing a formal
action, we and Mondelz International are seeking to resolve
this matter prior to any formal action being taken," Kraft said
in the filing.
"We do not expect this matter to have a material adverse
effect on our financial condition or results of operations,"
Representatives from CFTC and Mondelez did not immediately
respond to requests for comment.
(Reporting by Lisa Baertlein in Los Angeles and Tom Polansek in
Chicago; Editing by Ken Wills)