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July 25 (Reuters) - Australia's securities regulator said on Thursday it has sued COFCO International Australia and COFCO Resources SA, alleging they manipulated the ASX24 market for Eastern Australia Wheat futures January 2023 (WMF3) contracts.
The Australian Securities & Investments Commission (ASIC) alleged COFCO manipulated contracts 34 times between Jan. 17, 2022 and March 3, 2022.
"We allege these companies engaged in a repeated pattern of manipulation to benefit themselves to the detriment of other participants in the market," ASIC Chair Joe Longo said.
