Lumber futures fell again Wednesday, dropping to their lowest prices since last autumn. …Futures for September delivery shed $6 or about 1.1%, to end at $524 per thousand board feet. Futures have now declined 18 of the past 22 trading sessions. The selloff—about 25% over the past month—is reminiscent of the wild trading in lumber during the Covid-19 pandemic [but this time] …the continuing gyrations have been driven by trade policy. Lumber buyers stocked up ahead of a big increase in the duties levied on Canadian imports. …President Trump’s threats for additional tariffs on imported wood added incentive to hoard lumber. …The $54 difference in price between lumber futures for delivery this month and those for November in midday trading was well above the cost of warehousing wood for two months and a sign that traders’ demand outlook is bleak, Stinson Dean said. [to access the full story a WSJ subscription is required]