Does Yahoo Music jukebox support MP3 encoding?

I have always been very impressed with the abality and ease of use of the Musicmatch software MP3 converter. A key feature that I often use is the abality to select the kbps conversion rate. I use lesser tnan 128 kbps for large voice recordings to save disc space. The reduced rate has always worked well for this type of recording. Does the Yahoo Music jukebox support this feature?