March wheat finished 14 1/4 cents lower overnight. The dollar was mixed to higher. Financial markets were also lower along with key commodity markets.

Wheat managed a higher close on Friday in the face of mixed to lower action in soybeans and corn. However, wheat was the leader to the downside overnight. Traders said that weakness in outside markets and the continued threat of fund liquidation is helping to pressure wheat to start the week. Weather looks dry in the Plains all week with the Midwest also expected to be dry after today's snow in the central and south central Midwest. Last week's export sales were in line with trade expectations, but soft red sales plunged from previous weeks to just over 20,000 tonnes. This compared to 243,000 for hard red winter and nearly 106,000 for hard red spring. Total net sales for wheat, came in at 438,600 tonnes, all for the current marketing year. As of November 20, cumulative wheat sales stood at 75.0% of the USDA forecast for 2008/2009 versus a 5 year average of 66.5%. Sales of 248,000 tonnes are needed each week to reach the USDA forecast. Deliveries against the December contract remained heavy this morning at 3,593 contracts, down slightly from Friday's first notice day total. The 2-day total stands at 7,551.

Snow is expected today from Michigan through Illinois and Indiana and into Missouri. Conditions are then expected to be mostly dry in the Midwest and the Plains through the end of the week. Jordan is tendering for 100,000 tonnes of optional origin wheat for delivery in March. Bangladesh is tendering for 100,000 tonnes of wheat with a closing date of December 15th.