CME lumber futures traded in tight range today, closing at $ So the one thing that I can say is that patience is a virtue. Always wait for the great opportunities. If you miss a trade, that’s OK. I’d rather be on the sidelines wishing I was in than in the market and wishing I was out. Southern Yellow Pine (SYP) is a species of softwood lumber that shares many characteristics with other Western species of lumber that have traditionally dominated the lumber market, but the market has some key unique features. CME lumber futures have outperformed broader commodity indexes this month, up 6.2% versus the CRB index gain of 2.8%. Strength is attributed to resilient domestic housing activity and limited import competition.