MOSCOW: Russian wheat prices were up slightly last week amid continued demand from domestic exporters, analysts said on Monday, while an increase in Black Sea grain shipments and a stronger Australian crop sent global benchmarks lower.

Prices for Russian wheat with 12.5% protein content, delivered free on board (FOB) from Black Sea ports, were up $1 last week to $306 per tonne, the IKAR agriculture consultancy said.

Russia is exporting wheat relatively quickly this month, analysts from consultancy Sovecon said. Algeria has bought around 570,000-600,000 tonnes of wheat, and much of that will come from Russia, it added.