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

    May corn ended down 1 1/2 cent Wednesday, not showing much response to the Department of Energy's news that ethanol production fell to its lowest level on record last week. Soybeans were...

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports at 11 a.m. CDT Thursday, April 9. (Logo courtesy of USDA)

    USDA Reports Preview

    As coronavirus deaths continue to rapidly rise in the U.S. and economic activity is at a standstill, USDA is likely to issue lower demand estimates for corn, soybeans and possibly wheat in...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    On a day when most commodities were mixed, May corn took a break from recent selling and closed up 3 3/4 cents before facing Wednesday's energy inventory report and Thursday's WASDE report. May soybean meal fell to a new...

  • This chart shows a bearish consensus beginning to build among managed futures funds as cash corn prices fall to new one-year lows. By all appearances, the outlook for corn prices is bearish, but also highly uncertain early in 2020. (DTN ProphetX chart)

    Todd's Take

    Uncertainty is frustrating, but important to acknowledge when looking at markets. In the case of corn, the outlook for prices is both bearish and highly uncertain.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Nearly all commodities were showing losses Wednesday, including closing prices of grain and livestock after the President reminded the nation the worst of the coronavirus pandemic is not over yet. The U.S. Energy Department...

  • USDA will release its annual Planting Intentions and quarterly Grain Stocks reports at 11 a.m. CDT Tuesday, March 31. (Logo courtesy of USDA)

    USDA Reports Preview

    As coronavirus deaths rise in the U.S. and around the world, and we all try to keep a safe distance, USDA reveals its survey of prospective plantings and reports on March 1 grain stocks on Tuesday. DTN's post-USDA reports...

  • The Tuesday, March 31, USDA Prospective Plantings report is apt to show farmers eager to increase corn plantings in 2020, and they just might. That's unfortunate, as soybeans are the stronger bet for higher prices this fall. (DTN ProphetX chart)

    Todd's Take

    After the trade dispute with China began, the planting choice favored corn over soybeans. In 2020, the better odds for a higher return have now shifted back to soybeans.

  • The DTN National Corn Index of cash prices held above $3.50 a bushel until this week, pressured by a steep drop in oil and gasoline prices that pulled May ethanol to its lowest close on record Wednesday. (DTN ProphetX chart)

    Todd's Take

    Corn prices were weathering the storm of the coronavirus, but Saudi Arabia's reckless decision to increase oil production became too much to bear.

  • DTN's National HRW Wheat Index rallied from a low of $3.50 in early September to a high of $4.74 by Jan. 21, largely squeezing noncommercials and funds out of the short side of the market in the process. Since then, prices have fallen lower and the winter short-covering rally appears to be over. (DTN ProphetX chart)

    Todd's Take

    After a sharp sell-off last fall, HRW wheat prices managed to rally $1.24 a bushel from the September low this winter, but that was all they could muster.

  • Nearly every commodity is trading lower this week as coronavirus spread to 47 countries. In the case of May soybeans, it is interesting that commercials are slightly net long, finding attractive value at prices near nine-month lows. (DTN ProphetX chart)

    Todd's Take

    Some argue markets are rational and have an inherent wisdom. This week's selling in corn and soybeans is starting to look excessive.

  • The ratio of new-crop soybean prices to new-crop corn prices is currently trading at 2.36 to 1 for 2020-21, slightly below the 10-year average of 2.42 to 1 and giving a slight incentive to plant more corn than soybeans. The ratio is one important, but not definitive indicator of how spring planting decisions may go. (DTN ProphetX chart)

    Todd's Take

    For grain markets, 2020 has already had its share of distractions, but at the end of the day, the success or failure of planting season will likely hold the key for this year's prices.

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

    USDA Reports Preview

    February WASDE reports don't typically have much punch for prices, but Tuesday's version could be different. Coming on the heels of a new phase-one trade agreement with China, USDA will provide new export estimates, offering...

  • DTN's national index of cash soybean prices fell to $8.22 a bushel on Thursday, Jan.30, 2020, pressured in part by increasing concerns of how coronavirus might impact U.S. soybean demand in 2020. (DTN ProphetX chart)

    Todd's Take

    Close on the heels of a new phase-one trade agreement with China, the soybean market gets distracted by a new viral outbreak.

  • USDA will release its monthly Crop Production, Crop Production Annual Summary, Grain Stocks, Winter Wheat Seedings and World Agricultural Supply and Demand Estimates (WASDE) reports at 11 a.m. CST Friday, Jan. 10. (Logo courtesy of USDA)

    USDA Reports Preview

    2019 is in the books, and for U.S. row crops, it was a year like none other. On Friday, USDA will release its long-awaited crop estimates for corn and soybeans, along with a tally of grain stocks on Dec. 1 and estimates of U.S. winter...