# Farming News - ADM Agriculture Wheat Market Report

> UK wheat futures fell £1.25/t on the week as sterling surged on favourable election polls, while Paris futures rose €3.25/t and US prices gained $3/t on solid export trade. ABARES cut Australia's wheat estimate to 15.85 million tonnes, down 8%, and Egypt's GASC bought 295,000 t of Russian wheat.

- Date: 2019-12-06 · published 2019-12-06T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/11059-farming-news-adm-agriculture-wheat-market-report
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The ABARES cut to Australian output tightens southern hemisphere supply and supports export prices, while a stronger pound erodes UK export competitiveness. Russian and Egyptian tender activity shows demand for Black Sea wheat remains firm.

## Read by commodity

- WHEAT: bullish ▲
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-08-20 | [Market turns quiet after report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming.md) | +1.0% | +5.2% |
| WHEAT | 2017-02-13 | [USDA Report Cuts Stocks - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72450-usda-report-cuts-stocks-agweek-1-source-for-agriculture-news-farming-markets.md) | -1.1% | -1.8% |
| WHEAT | 2017-01-22 | [Post-USDA report fallout in markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72940-post-usda-report-fallout-in-markets-agweek-1-source-for-agriculture-news.md) | -1.3% | +4.1% |
| WHEAT | 2018-05-11 | [Farming News - Weekly Market Report - USDA report has little impact on wheat market](https://feedsoft.ai/events/64971-farming-news-weekly-market-report-usda-report-has-little-impact-on-wheat-market.md) | -0.6% | +3.1% |
| WHEAT | 2019-09-15 | [Markets have bullish reaction to USDA report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9892-markets-have-bullish-reaction-to-usda-report-agweek-1-source-for-agriculture.md) | +2.1% | +1.2% |

## Sources

- farming.co.uk: https://farming.co.uk/news/adm-agriculture-wheat-market-report-

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.