December wheat was down 4 3/4 cents late in the overnight session. Outside market forces look negative today with higher trade in the US dollar and some weakness in metal and equity markets. The burdensome supply of wheat on the world market continues to suggest to many traders that wheat prices may need to move lower to attract better demand. Russia has halted grain shipments to the main deep sea port for five days in order to clear overflowing silos. The advancing harvest in Australia plus the weakness in the Euro currency are factors which could increase the competition for US exporters on the world export market. The USDA attache in Europe indicated wheat production for the EU at 137.5 million tonnes, up more than 1 million tonnes from previous forecast. Syria passed on a tender to buy 100,000 tonnes of optional origin wheat due to high prices. The Ukrainian Agriculture Minister raised the grain harvest forecast to a whopping 55 million tonnes from 39.2 million tonnes last year. December wheat closed sharply higher on the session yesterday and recovered near half of the losses from the break off of the November 8th peak. March wheat moved from the lowest level since October 4th to close 11 1/2 cents off of the lows. While the US dollar was stronger and equity markets were under pressure early in the day, wheat futures were supported by higher trade in soybeans and a continued short-covering trend. The COT report from Monday afternoon showed a hefty spec net short position, and this helped support the market as well. A surge higher in energy markets and other agricultural markets late in the day helped to support. South Korea bought 110,000 tonnes of feedwheat. Japan is tendering for 93,276 tonnes of wheat at their weekly tender. Traders see better demand for wheat from the feeding sector with December wheat trading under December corn for the past month, and this may have added to the positive tone late. Talk of rain for the southern plains for next week failed to provide for much selling pressure yesterday but this may improve crop conditions going into dormancy.