London wheat futures ended down after a quiet, shortened session on Friday, with the market lacking liquidity because of the holidays, traders said. Most-active March finished 50 pence weaker at 66.50 pounds a tonne on 60 lots, while May closed 1.05 pounds down at 67.75 pounds and on 111 lots. New crop futures failed to trade in a market that saw a total 171 lots change hands.

Dealers said much of the activity was related to end-of-year book squaring but at least one operator - thought to be short of the market - was attempting to drag prices down.

"I think there's been a concerted effort to hit the market (lower), but volumes have hardly been large...it's been quiet again really," one broker said.

The Liffe wheat market closed at 1230 GMT in half day trading on Friday and is not scheduled to re-open until Tuesday, January 4.

Copyright Reuters, 2005