Russian wheat export prices fell last week, but some demand emerged

Russian wheat export prices declined last week, but analysts expect demand to increase. The price of 12.5%-protein Russian wheat for November delivery was $224 per metric ton, down $1 from the previous week. Despite the decline, analysts see signs of stabilization and some demand. Another consultancy, Sovecon, reported the price at $228-236 per ton, down $7 from the previous week. Russia exported 1.08 million tons of grain last week, including 0.94 million tons of wheat. The estimate for October wheat exports was revised up to 4.2 million tons.