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US lumber futures surge 4 percent as trade deal with Canada expires

from Reuters

From Oct. 14: Oct. 12 U.S. lumber futures jumped 4 percent to their highest levels in a month on Monday as inventories of the building material ran low and a nearly decade-old trade deal with Canada expired, traders and analysts said. Investors and wood users who bet on lower lumber prices following the expiration this week of the 2006 Softwood Lumber Agreement between the United States and Canada have been covering their short positions — in both physical supplies and futures. more

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