Attention is all on this morning’s USDA report, out at 11 am CT. Corn prospective acres are expected to come in near 94 million. Quarterly stocks are expected to come in near 8.134 billion bushels. June lean hogs made new lows on Friday as trend-following funds continue to press the pedal to the metal. There’s not a clear indication of how things will open yet.May corn continue to grind higher yesterday, despite news that two more ethanol plants will be closing, due to negative margins. Export sales this morning came in at a whopping 1,814,300 for old crop corn.We do believe there is more room to the upside on the front-month live cattle contracts, but we think it may not be sustainable for another week. May soybeans extended their rally yesterday on the back of hopes for better demand and potential port disruptions in South America. The market is giving back some of those gains in the early morning trade.U.S benchmarks finished Friday on a very ugly note, settling below the December 2018 low, and kicked off this week by gapping lower. The S&P traded to the lowest level since the week after President Trump’s 2016 election. Hopes of massive fiscal stimulus are stalling in the Senate.Corn futures staged nice recovery early yesterday but failed to hold all the gains into the close. This morning, prices are working back towards the top end of yesterday’s range. S&P responded to the first test of the December 2018 low by gaining as much as 13%. Yesterday, the S&P took out that low, but did not close below it. It has become evident since Monday that the panic is still playing out and we voiced here yesterday that we expected the market to break below 2300. Outside markets will continue to have a bearing on the grain sector, if we can avoid the limit down days and peak panic environment like we saw yesterday, we think the market can focus back on its own fundamentals.Soybean futures got taken to the woodshed yesterday, alongside nearly everything else. Outside markets have firmed in the overnight/early morning trade which has helped offer relief to beans.