March soybeans were up 14 1/2 cents late in the overnight session. Palm oil futures in Malaysia were down 1.2% overnight to a 3-week low after posting 33-month highs just last week. China futures were down slightly. There were 268 meal deliveries overnight and 955 for oil. There has still not been any deliveries against the January soybeans. Outside market forces look mostly positive this morning with strong equity markets and some weakness in the US dollar. The results of the USDA Grain Stocks, Crop Production and Supply/Demand reports for release before the opening will set the tone for the market today. Traders viewed the weather outlook in Argentina more mixed now than yesterday as there is more rain in the forecast in the 6-10 day time frame. Rains look limited for the next six days with only scattered amounts and there is some heat for this time frame which could be seen as stressful for crop development. Brazil weather is still favorable to the crops. Traders see a 3-4 million tonne decline in world ending stocks for the supply/demand report due to lower Argentina production. Traders also see a slight reduction for the final crop production report but tightening ending stocks due to better exports. US ending stocks are expected to decline by about 10 million bushels from 165 million posted in December. For the December 1st stocks, traders see stocks near 5 million bushels above last year's total of 2.339 billion bushels. The lack of new buying interest combined with a more aggressive selling pace from fund traders drove the market sharply lower on the session yesterday with the late selling pushing the March contract to the lowest close since December 22nd. Talk that there could be a little more rain in the Argentina forecast for next week along with ideas that there could be a slightly higher production estimate from the USDA production report may have sparked some of the long liquidation selling. A positive influence from outside markets helped push the market higher early in the day, but buying interest was limited after the opening and the market pushed lower. Weakness in meal helped pull the market lower. Exporters announced a sale of 116,000 tonnes of US soybeans to China for the current crop year and there was talk that China crush margins were improving.