BOSTON — Just how fluid trade talks can be was illustrated yesterday, as the Minnesota Twins’ effort to find a deal for pitcher Johan Santana seemed to be evolving almost by the hour.

Indications last night were that a deal might be consummated before the official start of the Winter Meetings, on Monday. The Twins, according to several baseball executives familiar with the talks, were attempting to persuade the New York Yankees to include Philip Hughes into a package for Santana.

The Red Sox, meanwhile, continued to explore their options with the Twins, but the team has been steadfast in its refusal to part with either outfielder Jacoby Ellsbury or starter Clay Buchholz.

Ultimately, that may doom the Sox’ chances of landing Santana as the Twins play the two American League East rivals against one another. Sensing that the Yankees might be more desperate to land Santana than the Red Sox, the Twins are intent on getting the Yanks to do something they don’t want to do — give up Hughes, their best pitching prospect.

To date, the Sox have offered a package that is known to include outfielder Coco Crisp, pitcher Jon Lester and minor-league infielder Jed Lowrie. The two teams have also discussed a variety of other prospects as part of the deal, including pitching prospects Justin Masterson and Michael Bowden.

Still, if the Twins are demanding the inclusion of Hughes in a deal with the Yankees, it stands to reason that they will eventually insist that the Sox part with either Buchholz or Ellsbury, at which point the Sox might consider themselves out of the running.

Pressing needs

When the Santana issue is resolved, the Sox will turn to less-glamorous needs such as the bench and the bullpen.

“We’re still hoping to address (those),” said general manager Theo Epstein in a conference call with reporters, “either at the Winter Meetings or shortly afterward. We have some interest in bringing back role players (such as Doug Mirabelli and Bobby Kielty) from last year. We have continued dialogues on that front. But we need to make sure that our core of starting players are set in stone and we know exactly what we’re looking for.”

Arbitation decisions

By midnight tonight, the Red Sox must decide whether to offer salary arbitration to their eligible free agents.

Indications are that the Sox will offer arbitration to two veteran relievers — Mike Timlin and Eric Gagne — which will result in compensation draft picks should they sign elsewhere.

In the case of Timlin, however, the veteran right-hander and the Sox are moving quickly toward a one-year deal worth about $3 million.

The Sox do not intend to offer arbitration to the rest of their free agents: Mirabelli, Eric Hinske, Kielty, and Royce Clayton.

The Sox intend to get to work on a contract extension for manager Terry Francona soon. Francona has a year remaining on the extension he signed in March of 2006, but the Sox want to extend him and reward him for his second world championships in four seasons in the Boston dugout.

Award recipients

Red Sox first baseman Kevin Youilis has been selected as the recipient of the 2007 Jackie Jensen Award, it was announced today by the Boston Chapter of the Baseball Writers Association of America.

In addition, the Boston BBWAA announced it has selected Francona as its 2007 Major League Manager of the Year. Right-handed pitcher Buchholz and outfielder Ellsbury share the Chapter’s 2007 Red Sox Minor League Player of the Year Award.

The awards will be presented at the 69th Boston BBWAA Awards Dinner, which will be held Jan. 17 at the Westin Waterfront Hotel, in South Boston. Tickets are still available for the dinner.

Youkilis was selected as the 17th recipient of the award in balloting conducted by the members of the Boston BBWAA Chapter. The award is named for the late Red Sox outfielder, who starred with Boston from 1954-59 and 1961 and is presented annually to a major-league player for “spirit and determination”

smcadam@projo.com