On the page of hunting you can choose to reroll the currently available quests for 1k, 2k, 3k, 4k and 5k pebbles daily, but there's also a text saying that they will reroll for free at midnight. I've been paying close attention to this the past couple weeks, and I've noticed that they actually do not reroll at all. Each morning I wake up to exactly the same quests I had available before I went to bed. (And yes, the game's midnight happens while I am asleep at 1am in the morning for my current timezone).
Initially I thought it might've been bad luck cause I only had a few hunts to chose from, but by now I'm lv38 and have quite a few quests available to me, so I no longer think it is just bad luck that I reroll the same quests I already had. They simply aren't rerolling at all.
Now if I may also insert a mini suggestion to this; I would love it if the daily free reroll had to be done manually. Basically the first reroll of the day is free but has to be manually done, and after that the prices increases with 1k up to the maximum amount of rerolls. The reason for this suggestion is that sometimes I am able to do a quest with a high or even 100% success rate, but I need to wait for the companion cooldowns to be up to swap some around to get the right synergy combo. If the wait for the companion cooldown (which is something the game forces me to do and not something I do by choice) happens to go past the midnight mark and the quest disappeared automatically, I'd be pretty miffed. Especially for the higher level quests that don't show up that often and require very specific combinations.