Chicago Board of Trade soyabean futures eased on Friday, weighed down by end-week profit taking, traders said. Soyabeans closed above their session low as technical buyers entered the market when prices for the benchmark CBOT March contract neared a 23.6 percent retrenchment point on a Fibonacci chart tracking their recent rally.

The front-month March soyameal futures contract also closed lower, snapping a string of eight straight higher closes. But deferred contracts ended firm, supported by dry weather in Argentina. For the week, the most active CBOT soyabean futures contract rose 3.9 percent. CBOT soyameal jumped 8.8 percent this week. CBOT soyaoil futures declined 0.9 percent this week.

Copyright Reuters, 2018