Russia wheat export prices continued their growth.

Price growth continued in the Russian wheat market this past week. Average prices for Russian wheat with 12.5% and 11.5% protein closed the week up another $3-4/MT at $187-190/MT FOB and $178-181/MT FOB, respectively (Novorossiysk port, October-November delivery). They are supported by price growth in the world wheat market and strong foreign demand for Russian wheat. In view of the above, part of market participants began holding back their sales as much as possible in the hope of further price upturn.