Water joined gold, oil and other commodities traded on Wall Street, highlighting worries that the life-sustaining natural resource may become scarce across more of the world. Bloomberg reports that farmers, hedge funds and municipalities alike are now able to hedge against — or bet on — future water availability in California, the biggest US agriculture market and world’s fifth-largest economy. Currently, if a farmer wants to know what water will cost in California six months from now, it’s kind of a “best guess,” Patrick Wolf, senior manager and head of product development at Nasdaq, said in an interview, adding that “the futures will allow market participants to see “what is everybody’s best guess”. Barton “Buzz” Thompson, a professor of natural-resources law at Stanford University, said though that while he has “no idea” if the futures will be successful, he doesn’t see it as a transformation of the water market.