Soybeans end the week lower.

Further confidence for a moderate rain in Brazil's Center/West region has been seen. Five day totals ahead would run 0.2 - 1.4 inch. To be fair this outlook would still run below the normal weekly rains of 1.7 inch for Mato Grosso. The current full two-week outlook suggests 1.4 - 3.0 with limited areas potentially seeing more. The trade is still discussing dryness for December. There is a light, valid, production hit to expect from weather to this point. The trade is lightly pricing additional premium based on the potential for no improvement in weather in the months ahead when reproduction hits.

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