CME soybean futures opened firm and closed at $12.24 after midday momentum buying. Commitment of Traders data showed managed money increasing net longs for the third straight week, reflecting renewed optimism in agricultural commodities. Soybean meal sales were in the middle of analysts estimates of 50,000 to 900,000 MT in that week at 357,463 MT, with bean oil at net reductions of 6,421 MT, below expectations of between 0 and 16,000 MT. This report is the first indication of whether planted acres will go to corn versus soybeans in the Midwest.