Record-low temperatures and dangerous wind chills in the US Midwest have caused loading operations, docks and barge fleets to halt operation until weather improves.
Downtime is expected to be limited with warmer temperatures expected by the end of the week, but barge lines could see limited operations on the Illinois River for a more extended period, according to a source.
Grain elevators and some trading operations were closed Wednesday but are expected to reopen Thursday. Trading activity is limited and daily price spreads were seen at wider ranges in part due to the lower market participation.
The disruption to operations has put a premium on near-term delivered shipments, but barge shippers expect freight values to weaken early February, according to a source.
Traders have also moved to the sidelines, awaiting any announcements from the US-China trade negotiations that began Wednesday in Washington.
