Todd Hultman

DTN Lead Analyst

Todd Hultman is a DTN grain market analyst, and has worked in the commodity futures industry since 1985.

 

Todd began his career as a broker with Delta Futures Group in Omaha, where he relied on DTN's news and market quotes. In 1997, he left the brokerage business with a desire to spend more time researching the futures markets and educating others. The move led to the creation of an online educational resource for futures traders. That same strong interest to research and teach brought a Todd to DTN where he enjoys commenting on the grain markets. Todd is a 1981 graduate of the University of Nebraska at Omaha and has lived in the Omaha area for most of his life.

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More From This Author

  • USDA will issue its monthly Crop Production report and World Agricultural Supply and Demand Estimates (WASDE) for June on Wednesday, June 12. (USDA logo)

    USDA Reports Preview

    USDA on Wednesday will update new-crop wheat production estimates in the U.S. and around the world and will also take another look at South American crop estimates after last month's flooding in southern Brazil.

  • The first of two main differences in corn and Chicago wheat in early 2024 is that Chicago wheat traded at new 2024 highs in May and corn did not. The second is that July corn has pulled back closer to its April low in early June than Chicago wheat has, a sign of stronger potential support for wheat. (DTN ProphetX chart)

    Technically Speaking

    After trading higher in late April and May, July contracts of both corn and wheat have fallen back the past two weeks, but it is Chicago wheat that may have stronger potential for technical support.

  • Corn exports are up 34% from a year ago, helping to provide a more optimistic outlook for corn prices. (Joel Reichenberger)

    Inside the Market

    No longer depressed by the dark days of winter, corn prices are showing cautious optimism in spring.

  • July Chicago wheat surged higher for a third time in the past five weeks, closing near $7 for the first time since August 2023. Specs have covered most of their net short positions and wheat crops around the Black Sea are being stressed by dry weather. (DTN ProphetX chart)

    Technically Speaking

    On May 24, July Chicago wheat closed near $7 for the first time since August 2023, helped by a number of weather surprises in early 2024.

  • Falling crop prices, like in the late 2023s and early 2024s for corn and soybeans, can take a financial and mental health toll on growers. (DTN ProphetX chart)

    Mental Health Hope & Help - 9

    Spend time thinking ahead about worst-case scenarios and how to protect yourself from market fluctuations, not just financially, but also emotionally.

  • July soybeans were down a nickel on May 14, the day the U.S. announced a new set of tariffs on Chinese goods. By the end of the week, prices had gained 9 cents and were holding above support, showing no sign yet of reprisal from China . (DTN ProphetX chart)

    Technically Speaking

    On May 14, 2024, the U.S. initiated a new round of tariffs on Chinese goods, always a touchy subject for the soybean market. Traders might be wondering about retaliation from China; but so far, soybean prices are showing no...

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports Friday, May 10. (USDA logo)

    USDA Reports Preview

    In its May 10 World Agricultural Supply and Demand Estimates (WASDE) report, USDA will update old-crop estimates as well as establish new estimates for the 2024-25 season. Also, the monthly Crop Production report will give the first...

  • This chart first appeared on the Technically Speaking blog on March 18, 2024, with a possible double-bottom forming at that time. Friday's close at $4.82 3/4 was a new three-month high and added weight to the bullish argument for corn prices (DTN ProphetX chart).

    Technically Speaking

    The corn planting season is here and challenges are already emerging as the rains keep coming. December corn prices turned higher and we have to wonder how much potential there may be for more gains ahead.

  • As of May 2, spot soybean oil was so "excited" about the new opportunities for sustainable aviation fuel that it closed at 42.57 cents, near its lowest price in three years (DTN ProphetX chart).

    Todd's Take

    For suppliers of used cooking oil and tallow and producers of Brazilian sugarcane ethanol, Tuesday's SAF announcement was good news. For U.S. producers of corn and soybeans, the pathway to this new market is not so clear.

  • Falling crop prices, like late 2023 and early 2024's corn and soybeans, can take a financial and mental health toll on growers. (DTN)

    Inside the Market

    Spend time thinking ahead about worst-case scenarios and how to protect yourself from market fluctuations, not just financially, but also emotionally.

  • As of April 25, July KC wheat prices posted six consecutive higher closes, a sudden rash of short-covering that was triggered by several unrelated events that seemed to emerge, almost simultaneously, out of the blue. (DTN ProphetX chart)

    Todd's Take

    For months, the most bullish thing I could say about wheat was prices were fundamentally cheap and world supplies weren't burdensome. In one short week, the conversation changed and now speculators are scrambling out of their...

  • As of Friday, April 19, 2024, November soybeans closed at $11.61 a bushel and are holding up fairly well, considering the top two U.S. soybean competitors are harvesting somewhere between 7.3 billion and 7.5 billion bushels (DTN ProphetX chart)

    Technically Speaking Blog

    While the top two U.S. soybean competitors are both harvesting soybeans, November soybean prices are only showing limited bearish pressure in April. Is something more going on?

  • December corn fell to $4.60 on Thursday, April 18, 2024, the lowest close in a month. But there has been so much change the past few years it is difficult to know how today's prices compare to recent history. Using USDA production cost estimates, we can say Thursday's price is similar to $3.59 a bushel in the 2015 to 2020 period, a time when corn supplies were similar to today's market. (DTN ProphetX chart)

    Todd's Take

    Input prices and the value of the dollar have changed in the past few years since COVID arrived. A little math may help regain some perspective on new-crop corn prices in 2024.

  • The new safrinha corn crop has had consistent rains since being planted but the forecast for central Brazil is looking drier this week, starting to transition to its dry season. Neither December corn in the U.S. nor July corn on Brazil's Bovespa exchange show signs of crop concerns yet (DTN ProphetX chart).

    Technically Speaking Blog

    Brazil's safrinha corn crop is about to enter its dry season, but so far, corn prices are not showing concern for smaller supplies either in the U.S. or in Brazil.

  • (24K-Production, Getty Images)

    Inside the Market

    If we ask the typical trader what a bushel of wheat is worth, we're apt to get the curt response, "Whatever the market will bear." If we ask an economist, the answer will vary depending on the theory to which the economist...