US wheat futures were mixed in overnight trade. Spring wheat futures softer while both soft and hard wheat at Chicago recovered a little. The big loser in overnight trade was soybeans shedding 23.75c/bu (AUD$12.22) in the January contract. The lower close in Chicago beans was not reflected in ICE canola futures at Winnipeg which managed to closer C$4.20 higher for January 22. In Paris the rapeseed contract was lower, down E5.50 for the Feb 22 slot. All outer months for Paris rapeseed were also lower.

A couple of good international wheat tenders are out this week. Turkey is looking for 320kt of 12.5% – 13.5% milling wheat. Submissions closing on Dec 21st, shipment in Feb.  This is on top of the 385kt of milling wheat bought in November. Tighter stocks in Turkey are being bolstered with larger imports this year after a dry finish hurt domestic yields.
Algeria is also looking for milling wheat. Algeria do not generally make purchase volume and price public. The increase in acceptable insect damage from 0.5% to 1% for this tender does tend to lead one to think that Black Sea wheat should feature in the final tonnage.
Paris milling wheat futures were mixed, the potential increase in demand from the above tenders somewhat capped by the prospect of Black Sea grain entering the mix. March milling wheat futures at Paris increased E2.75 per tonne by the close.

In the US funds were net buyers of wheat and soybeans on the day. A better weather outlook in S.America was considered bearish corn.