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| Continued Strength in Housing Market |
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| In a show of continuing strength in the housing market, pending home sales edged up to a three-year high in April. The statistic was released Thursday by the National Association of Realtors. Credit for the increase was given to a shortage of homes for sale and continued low mortgage rates. More on this story is available inside today's LBM Daily newsletter. ...Click here to read the rest of this article.
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editor@lbmdaily.com |
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| Futures & Options: Rebound |
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| Contract | Close | Change | Volume | Open Int | | | July 2013 | 291.90 | +14.50 | 1367 | 282.30 | | | Sept 2013 | 296.90 | +14.40 | 577 | 284.00 | | | Nov 2013 | 300.90 | +15.00 | 54 | 288.00 | | | Jan 2014 | 311.00 | +10.90 | 12 | 309.00 | | |
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| Lumber Futures rebounded off recent lows and closed sharply higher on broad based buying. Hovering near and above yesterday's new contract lows in the after-hours market, buying interest increased in Lumber on positive diverging technical indicators pushing the market higher. The lead July contract gained momentum above yesterday's high of $287.00 and the contracts high of the week at $295.50 sending the contract up the expanded $15.00 limit. "Stop loss" buys orders as well as commercial and speculative buying on reports of increased cash trade led the strong advance. ...Click here to read the rest of this article. |
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