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Major Retailers Face Class Action Suit Over Bread

A huge class action lawsuit involving bread, got the green light this week to move forward.

The 40-billion-dollar suit alleges major players like Loblaw, Sobeys and Metro colluded for decades to inflate the price of sandwich loaves like Wonder Bread to pocket billions in profits. The suit also names companies like Canada Bread, Walmart Canada and Giant Tiger. One of the lawyers involved in the suit says it affects pretty much every Canadian who's bought packaged bread over the past 20 years.

Loblaw and George Weston have admitted to the conspiracy while others named in the suit deny it. Loblaw went so far as to offer its customers a 25-dollar gift card after confessing to its part of the scheme back in 2017. But if the class action suit is successful, those found guilty could end up owing far more than that.

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Despite a Super Strong El Nino the early South American soybean planting pace is ahead of schedule.
The long-term forecast looks dry for the North but wet for the South including Argentina.
China bought 1.5 mmt of U.S. soybeans this week with rumors of 2 mmt and now at 68% of 25 mmt commitment.
The question mark remains the Chinese pledge towards the $17 billion in ag purchases.
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Weak U.S. pork demand weighing on hogs
+ CFTC.