Below is a seasonal chart of North American (GCA) Inventories. It's choppy data and yes we built in December but the aggregate picture does not look like poor demand to me. I do think it's correct to say demand is not as strong as it would have been without the pandemic, and has not grown in the past year, but it's held in there. Whenever demand does reaccelerate we have a problem on our hands with the coming Brazil crop being so poor. If demand does not ever reaccelerate...well then I think 120 is a plenty fair price and explains why price is acting how it is.