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The deep freeze that has left almost five million Americans without power is snarling shipments of goods from corn to soybeans, shutting meat plants and curbing ethanol production, reports Bloomberg Quint.
Traders say it’s increasingly hard to move grain to ports in the Pacific Northwest, and ice warnings are restricting navigation on the Illinois River.
Energy costs soared, prompting some ethanol and soybean processing plants to slow down.
Cargill Inc. is curbing energy use while ADM slowed production at several locations due to gas shortages.
Read the full report at Bloomberg Quint.