New crop wheat with 11.5 percent protein content and bug damage of up to 1 percent lost $1, declining to around $165 per tonne FOB Novorossiisk, the Institute for Agricultural Market Studies (IKAR) said in a weekly note. SovEcon agricultural analysts said in a weekly note that most big traders were not buying wheat last week. The rest kept offering to buy fourth-grade (ordinary) wheat at 5.000-5.150 roubles ($161-$165.8), per tonne including delivery (CPT) Novorossiisk. Prices in shallow water ports became slightly weaker at 4.200-4.300 roubles, compared to 4,200-4,400 roubles per tonne a week before, it said. Old crop grain prices in North Caucasus, where the harvesting campaign had already started declined by 100-200 roubles per tonne on the average, while in the regions along the Volga river fears of drought pushed prices up by 50-100 roubles, SovEcon said. It said traders set new crop third-grade wheat EXW prices at 4.000-4.300 roubles per tonne for third-grade wheat, 3.800-4.000 roubles per tonne for fourth-grade wheat. New crop fourth-grade wheat is expected to be at 4.500 roubles per tonne. However, the wheat crop harvesting has yet to start.