First came fire; now floods. Wood producers in British Columbia have been cut off from forests and customers by natural disaster for the second time this year, sending lumber prices higher. …Front-month lumber futures have risen 44% over the past week, ending Monday at $772.60 per thousand board feet. They had reached $831.80 Monday, their highest level since summer. On-the-spot prices for SPF boards rose about 12% last week in response to the deluge. …Analysts don’t expect the floods to have a long-term impact on the North American lumber supply because there are routes through Alberta to the U.S. They say gains in the futures market have probably been sharper than warranted. …Hamir Patel, an analyst with CIBC said, “Canadian mills were aggressively moving product across the border earlier this month ahead of duties doubling.” That should mean that there is enough wood south of the border to sustain home builders until supply routes reopen. [A WSJ subscription is required to access the full story]