U.S. lumber futures soared on Wednesday on expectations for demand to increase in the aftermath of monster storm Sandy that caused massive flooding in the northeastern United States, damaging numerous homes that would need rebuilding.

The storm, which made landfall on Monday evening and has killed at least 45 people, may cause up to $15 billion in insured losses, according to one disaster-modeling company.

“Historically, this is what happens after a natural disaster,” said Michael Young, president of Pacific Futures Trading in Seattle, Washington.

Chicago Mercantile Exchange November, January and March lumber futures rose by the daily trading limit of $10 per thousand board feet and remained locked at those levels, effectively shutting down trading.

From Reuters: http://www.reuters.com/article/2012/10/31/storm-sandy-lumber-idUSL1E8LV4XG20121031