Hurricane Harvey is barreling down on Texas, and commodity traders are looking to figure out how to protect themselves and profit.
The man these traders and hedge-fund managers turn to has become known as Wall Street's weatherman: Dan Leonard of Weather.com. He advises commodity traders from all over the country and warns Harvey is intensifying and speeding up. Leonard's updated prediction this morning calls for record-breaking flooding to occur in the southern third of Texas.
"Historic flooding from Houston to San Antonio is very possible," the forecaster told CNBC.
Harvey will become a Category 2 hurricane late today, according to Leonard, that's faster and stronger than many meteorologists had been forecasting.