Futures File: Floods, fires devastate beyond words
Jul. 24—Floods in northwest
Hundreds are reported dead and hundreds more are missing. Early estimates of the damage exceed
As the crisis-level damages in
Stateside, 13 new fires were reported this week, bringing our national total to 83 large fires. The
High temperatures and dry weather continue to plague our northwest while low subsoil moisture threatens many of our row crop and wheat-growing regions.
Lumber Bounces
Following the most historic rise and crash in the history of lumber trading, lumber staged a recovery this week. While housing prices hit record highs in June, lumber tumbled to its low on
Some of the recent upswings could be attributed to fires destroying logging forests, but production from mills is also impacted by energy availability and transportation issues as part of their supply chain.
Lumber for September delivery traded at
Cup of
Coffee prices blew through the ceiling this week as
Coffee exports from
Words of Wisdom
"In the markets there is nothing wrong with being wrong, but there is enormous wrong with remaining wrong." —
Opinions are solely the writer's.
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