We're going to see a little bit of early demand. The market's biggest fear is that we'll get an early, cold winter.

The decline in demand should be short-lived. It will be a race between supply and demand. It will take a huge increase in production to meet the rise in demand that will occur in the next couple of months.

The big question is how long the demand destruction will last. If it is short we could be back to all- time high prices by the end of the year.

Buy the rumor, sell the fact.

It reminds us how reliant we are on imports, and with the geopolitical climate and tropical storms, we could not afford to be down for any extended period of time to meet demand.

Even though the overall number looked good, a lot of the supply was on the West Coast.