U.S. lumber futures jumped almost 8% to the exchange-imposed limit on concern that damage from Hurricane Ida will hinder deliveries in the U.S. South just as some North American mills pull back on production. The November lumber contract shot up 7.9% to $576.20 per thousand board feet on the Chicago Mercantile Exchange. The surge extends a tumultuous year for lumber, which at one point was among the best-performing commodities as a pandemic-fueled construction boom drove demand. After reaching an all-time high in May, the common building ...
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