What's the Difference Between Basis and Carry in Commodity Markets?

Stinson Dean (@lumbertrading on Twitter), owner of Deacon Lumber, stops by The Business Brew to discuss the current lumber market, what happened to lumber in 2020, and how the market got to where it is.  This is a long conversation, but deserves the length.  Stinson goes deep into what it means to trade physical lumber, how he manages risk, why he is hedged, and much, much more.

The goal of this conversation was to have a calmer conversation about lumber than what may have occurred just a year ago.  Lumber is an extremely volatile market and Stinson is a fantastic person to discuss the market with.  We hope you enjoy this conversation.

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Album art photo taken by Mike Ando.  Please see https://www.mikeando.com/