I want to ask how can climate shocks, such as El Niño, for example, um, reshape food inflation and monetary policy across North America in the coming years?

So I, I think one of the primary things that we think about is the effect on specific industries and maybe even specific regions when it comes to something potentially like El Niño.

Um, the way that El Niño plays out in Southeast Asia could look different from South America or parts of Latin America, and even the US for that matter.

We're starting to see some amount of volatility in commodity markets because of that.

And I do think there's a role for credit and ultimately risk management when producers are thinking about how to respond to those sorts of shocks.

Not just something like El Niño, but you could envision some other shocks along those lines as well.

Which commodities, uh, in particular with El Niño, should we be, be paying attention to?

I think the regions of the world that have tended to be most impacted by something like El Niño have tended to be maybe more in Southeast Asia and some in South America, potentially Brazil.