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.

Recent Blogs by Author

More From This Author

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March KC wheat closed up 5 1/2 cents Tuesday, supported by USDA's lower winter wheat crop rating, Canada's rail strike and Tuesday's broad demand for wheat in general. December corn and January soybeans were modestly higher...

  • As of Nov. 5, 2019, noncommercials held 91,933 net longs in soybeans, a modestly bullish position after several months of inactivity. (DTN ProphetX chart)

    Todd's Take

    As the days get noticeably shorter, and while combines are still in the fields, noncommercials are largely quiet in corn and soybean markets.

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports at 11 a.m. CST Friday, Nov. 8. (Logo courtesy of USDA)

    USDA Reports Preview

    What do the Nov. 8 Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports have in store for us?

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) -- On Sunday evening, December corn is down 2 3/4 cents, November soybeans are down 3 1/4 cents and December KC wheat is down 2 3/4 cents. As far as weather is concerned, the weekend was relatively quiet and...

  • This chart shows that over the past two decades, DTN's National HRW Wheat Index rarely traded below 65% (lower red dashed line) of USDA's estimated production cost. Wheat prices below production costs are undervalued, but it can take time to get higher offers. (DTN ProphetX chart)

    Todd's Take

    I don't know anyone who likes to wait, myself included. However, when grain prices are too low, waiting can be a good choice.

  • DTN's National Corn Index saw brief volatility in the summer of 2019 but has been quiet in October, still facing plenty of uncertainty about the size of the 2019 corn crop. (DTN ProphetX chart)

    Todd's Take

    USDA says the U.S. will harvest 13.78 billion bushels of corn in 2019. Admittedly, the bullish case isn't certain, but there are reasons to expect a smaller crop from 2019.

  • DTN's National Soybean Index is trading at its highest level in over a year, supported by a smaller 2019 soybean crop, uncertain harvest conditions and hope for increased trade with China -- hope that has yet to see a written agreement. (DTN ProphetX chart)

    Todd's Take

    The limited phase one deal with China may or may not take place, but either way the U.S. remains China's supplier of last resort.

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports at 11 a.m. CDT Thursday, Oct. 10. (Logo courtesy of USDA)

    USDA Reports Preview

    Thanks to lower-than-expected corn and soybean stocks in USDA's Sept. 30 Grain Stocks report, Thursday's WASDE report will have lower estimates of new-crop ending corn and soybean stocks, but other surprises may also get...

  • Nearly seven years past the price peak of 2012, soybeans are showing signs of finding support near their lowest prices in 12 years, accompanied by an upward turn in the weekly and monthly stochastics. (DTN ProphetX chart)

    Todd's Take

    From a technical perspective, soybeans look bullish, but is that enough?

  • USDA will release its quarterly Grain Stocks and Small Grains Summary reports at 11 a.m. CDT Monday, Sept. 30. (Logo courtesy of USDA)

    USDA Reports Preview

    Monday's quarterly USDA Grain Stocks report will post the final ending stocks estimates for corn and soybeans in 2018-19 and tell how the first quarter of wheat demand went in 2019-20. The Small Grains Summary will show wheat...

  • USDA will release its latest World Agricultural Supply and Demand Estimates (WASDE) report at 11 a.m. CDT Thursday, Sept. 12. (Logo courtesy of USDA)

    USDA Reports Preview

    After being stung with two bearish USDA reports in 2019-20, grain producers have to be wondering if USDA will do it again when they release the first field-based yield estimates for corn and soybeans on Sept. 12.

  • This chart shows the percent of years since 1960 spot corn, soybeans and wheat futures reached their one-year, six-month, and three-month highs. Of interest is how spot prices have a good chance of reaching their three- or six-month highs, even during bearish times. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    When grain supplies are heavy, there isn't much that can be done about low prices, but you shouldn't have to take the lowest prices.

  • This chart has been a favorite teaching tool for farm shows as it shows the seasonal perils of owning cash corn past May 31. (Chart based on DTN's National Corn Index)

    Todd's Take

    Some of the questions at this year's Farm Progress show near Decatur, Illinois, were new for 2019, but there is one question I hear every year.

  • (Progressive Farmer image by Benjamin Krain)

    Inside the Market

    As a guy who has studied and written about commodity markets a long time, something I had to come to terms with years ago is the joy of publicly being wrong now and then.