Prices for the new crop for July-August delivery at $173-$177 a tonne, up $1.50, while IKAR put prices at $176, up $2 from the previous week. Russian wheat export prices have risen for a third consecutive week due to persistent concerns over wheat crops in Russia and Ukraine to be harvested this summer. Last week, Russia agriculture ministry downgraded its forecast for Russia 2017 grain crop to 100-105 million tonnes from a previous 110 million tonnes due to unfavourable weather. Russian prices have also been supported by demand from Egypt, the largest market for Russian wheat. Last week, Egypt state buyer agreed to buy 120,000 tonnes of Russian and 60,000 tonnes of Romanian wheat, for July 1-10 delivery.