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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  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans finished 9 cents higher Friday, helped by an unconfirmed rumor that China offered to commit to large U.S. ag purchases earlier this month, and by a return of investor buying interest to the stock market and...

  • DTN Early Word Grains

    March corn is up 1 1/4 cents, March soybeans are up 3 1/2 cents, and March K.C. wheat is up 1 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of corn and two of the three wheats finished a little higher Wednesday, finding only light trade volume after Tuesday's losses. March soybeans traded lower much of the day, but ended up 1 1/4 cents, still...

  • DTN Early Word Grains

    March corn is up 2 1/4 cents, March soybeans are up 4 1/4 cents, and March K.C. wheat is up 3 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Friday was a quiet day of trading in the grain sector that saw prices start higher early, but gradually fade to smaller gains throughout the day. Grain news remains restrained by the government shutdown and the forecast in...

  • In July 1972, the Soviet Union quietly bought large amounts of U.S. grain, leaving U.S. reserves lower than expected. Having no export sales reports at the time, U.S. agriculture unknowingly sold the grain cheap and the U.S. economy later suffered high domestic prices -- a situation that USDA's export sales reports were specifically intended to prevent. (DTN ProphetX chart)

    Todd's Take

    The U.S. government shutdown is likely to be harmless, provided it doesn't last too long. For agriculture, the biggest risk could come from USDA's lack of export sales reporting.

  • DTN Early Word Grains

    March corn is up 2 1/2 cents, March soybeans are up 3 1/2 cents, and March K.C. wheat is up 4 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of corn, soybeans, and all three wheats finished lower Thursday, pressured by a mix of disappointment from this week's trade meeting with China, a higher-than-expected soybean crop estimate from Brazil and a...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Most commodities on the futures board finished higher Tuesday with help from the March U.S. dollar index trading at its lowest price in over two months. Corn and soybean prices were modestly higher with help from hot and dry...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grain and oilseed prices were mixed on mostly light trade as negotiations resumed between U.S. and Chinese trade officials Monday. March soybeans were up 2 3/4 cents and March soybean meal was up $3.20 at $322.20, helped by more...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of corn, soybeans and all three wheats finished higher Friday after USDA announced it was postponing its January 11 reports. Hot temperatures remain in the forecast for southern Brazil and export sales remain...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March Kansas City Wheat closed up 11 cents, leading percentage gains among grain-related contracts on Thursday, while the March U.S. dollar index is trading down 0.58. March corn broke out of its stubborn pattern and finished 4...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans finished up 12 cents, helped by a forecast for more hot and dry conditions in south-central Brazil and by more unconfirmed talk of soybean purchases from China, while the U.S. government is not publishing export...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn and soybeans both slipped a half-cent each on light volume for the final day of 2018, while export sales remain a mystery and after President Trump said trade progress is being made. March contracts of winter wheat...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans closed up 13 cents and March soybean meal was up $4.70 Friday, the only crop-related contracts showing decent volume at the end of Christmas week. Corn and wheat prices were quiet and finished mixed as the...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans fell 14 cents Wednesday, still troubled by ongoing concerns about U.S. soybean demand while the U.S. and China keep negotiating trade terms ahead of the March 1 deadline. Corn and wheat also finished lower in spite...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grains

    Monday's closes at CME Globex: March corn was down 3/4 cent, March soybeans were down 3/4 cent, and March Kansas City (HRW) wheat was down 1/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn and soybeans were slightly lower on Christmas Eve, only showing tiny fractions of their normal volume. Wheat, the three wise men, brought mixed messages from afar and a 2 1/2-cent gain to the Chicago contract.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Except for corn and cattle, most commodity prices finished lower again Friday as outside investor worries led to more selling of U.S. stocks and a risk-off response around the country. A looming government shutdown, the...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    Increased pork sales from Mexico last week and slightly lower than expected on-feed and hog inventory numbers from USDA are giving livestock prices a chance to finish 2018 on a high note.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn dropped 6 1/2 cents and March soybeans were down 6 3/4 cents, both likely influenced by noncommercial selling related to new lows in the stock market and crude oil. Winter wheat prices were one of the few commodities...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    February cattle and hogs are modestly lower early Thursday, getting no help from outside markets as Dow Jones Industrials challenge their lows for the year. USDA's weekly report of export sales was bullish for pork, thanks to...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of corn, soybeans and all three wheats finished lower Wednesday, showing no bullish impact from USDA's announcement of a 44.1 million bushel soybean sale to China. Outside commodities traded mostly higher, even after...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of all three wheats finished lower Tuesday with March Minneapolis showing the largest loss of 8 1/2 cents. March corn and soybeans were a little higher with traders still hoping for some purchases from China.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    While the Dow Jones Industrials fell to their lowest levels in seven months and outside commodities followed mostly lower, soybeans and wheat prices held firm and March corn ended slightly lower.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 6 1/2 cents Friday, still not impressed by a second day of export sales to China and also influenced by a commodity board that was nearly all red. March corn was one of the few commodities that survived with...

  • In October 2014, DTN Livestock Analyst John Harrington warned that the bull market party in cattle was running out of time -- a call that not only proved remarkably timely, but also reminded us about the dangers of getting carried away by the lure of good times and high prices. (DTN ProphetX chart)

    Todd's Take

    What helps one survive bearish times in grain markets? A healthy dose of old-fashioned values.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    USDA announced its first significant soybean purchase from China for 2018-19, but January soybeans dropped 13 cents on disappointment that the first sale was only 41.5 million bushels. Wheat prices closed higher with help from...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Most commodities and the Dow Jones Industrials were trading higher Wednesday, a sign investors' cautious moods are lightening, less than two weeks before Christmas and even grains found some benefit. Wheat led percentage gains...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    USDA's WASDE report for December has come and gone, leaving January soybeans a little higher, March winter wheat contracts a little lower and March corn up less than a cent. Outside markets were mixed, but copper and crude oil...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of corn, soybeans and all three wheats finished lower Monday, one day ahead of USDA's next WASDE report set for 11 a.m. CST Tuesday. Commodities in general are also lower Monday as is the stock market, while the...

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

    USDA Reports Preview

    USDA's December Crop Production and World Agricultural Supply and Demand Estimates reports probably won't shed any light on this year's harvest difficulties in the U.S., but could increase South America's crop estimates.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March Kansas City wheat closed up 16 1/2 cents Friday, reversing the bearish mood and taking prices to their highest close in three weeks after USDA released encouraging export news. Corn and soybeans were also higher...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Following former President George H.W. Bush's memorial service Wednesday, grain markets got a rude awakening early Thursday with news of the arrest of a Chinese executive, possibly becoming an unexpected threat to trade talks...

  • DTN Early Word Grains

    December corn was down 1 3/4 cents, January soybeans were down 3/4 cent, and March K.C. wheat was down 5 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March contracts of corn, soybeans and all three wheats finished higher Friday, showing positive expectations for this weekend's trade meeting between the leaders of the U.S. and China. December contracts of the three wheats...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Trading in grains was quieter overall Thursday with lower volumes posted one day ahead of this week's much-anticipated G-20 meeting in Buenos Aires. January soybeans were down 3 1/4 cents, while corn was steady and wheats were...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    We still don't know how things will go in Buenos Aires later this week, but January soybeans jumped 15 cents higher after traders heard hopeful comments from China's President Xi Jinping to Spain's Parliament on Wednesday. Grains...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans recovered 13 1/4 cents of Monday's 18 3/4 cent loss as traders continue to show nerves ahead of Friday's G-20 meeting. Winter wheat prices erased Monday's modest gains and finished lower, likely pressured by...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 18 3/4 cents Monday to their lowest close in November as traders showed concern about Friday's trade meeting between the U.S. and China in Buenos Aires. All three wheats on the other hand, got a modest lift...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    A short, post-Thanksgiving trading session brought small losses to row crops amid light trading following another disappointing week of U.S. export sales. March K.C. wheat fell 7 cents, but Chicago wheat was up a 1/2 cent with help...

  • The World Bank chart above shows declining numbers of extreme poverty in the world, largely due to increased prosperity in China (East Asia) and India (South Asia). It's an important trend, which suggests increased grain demand for several years ahead. (Graphic by World Bank)

    Todd's Take

    For a short week of pre-Thanksgiving trading, there were plenty of bearish concerns in the world, yet one big bullish trend continues.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    In a quiet pre-holiday session in the grain sector, most contracts finished mixed with a couple of exceptions. The largest percentage gain was in January soybean oil, closing up 0.47, while the largest percentage loss belonged to a...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    With the Dow Jones down 557 points early Tuesday afternoon and the December U.S. dollar index up 0.67, nearly all commodities were lower Tuesday. Grains, however, were largely spared the bearish drama with January soybeans up 7...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 18 1/2 cents Monday after the U.S. and China could not come to terms for a concluding statement at the weekend's Pacific Rim summit. Corn and all three wheats also finished lower, influenced by soybeans and...

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) -- As we near the close, December corn is up 1/2 cent, January soybeans are down 2 cents, and December K.C. wheat is down 1/4 cent. Other than a narrow band of precipitation across southern Iowa, the weekend was...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December soybean meal closed up $5.50 Friday, boosted by a healthy start of export sales commitments in early 2018-19. Soybeans and winter wheat ended modestly higher while corn and spring wheat were a little lower.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Soybeans traded much higher earlier in the day, but settled with a gain of 5 1/4 cents as traders continue to read news reports of U.S. officials talking trade with Chinese officials. Corn and wheat were quieter with December K.C...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    There was not a lot of trade volume to be found among grains Wednesday, but soybeans did push roughly a nickel higher while winter wheat lost roughly a nickel. Corn kept a low profile while outside commodities showed a little...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Other than livestock and a few exceptions, most commodities -- including grains -- traded lower Tuesday, influenced by another big drop in crude oil prices. Even Chicago wheat gave back all but 5 3/4 cents of Monday's big gain.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December Chicago wheat closed up 17 3/4 cents at $5.19 3/4 Monday, the highest close in three weeks, even as the U.S. dollar jumped up to its highest prices in over a year. Trading in corn and soybeans was quieter by comparison...

  • (DTN file photo)

    DTN Early Word Opening Livestock

    Cattle and feeder prices will do well to find some semblance of support this week after breaking fresh lows on the futures board last week. Hogs on the other hand, continue to experience high slaughter levels, but are holding...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Hope for a trade agreement with China, still circulating after last week's tweet from President Trump, helped January soybeans close up 7 3/4 cents Friday. Corn and wheat meanwhile, closed lower Friday with December K.C. wheat...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After being told by USDA that world ending corn stocks were 5.8 billion bushels more than previously reported, December corn prices kept their composure fairly well and closed up 1 1/4 cents on the day. Soybeans finished slightly...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    In the aftermath of Tuesday's election, the stock market is trading higher, but grains are showing no such enthusiasm, still focused on problems of over-supply ahead of Thursday's WASDE report. January soybeans fell 4 3/4 cents...

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

    USDA Reports Preview

    Typically known for its more accurate harvest estimates, this year's November World Agricultural Supply and Demand Estimates report may lack its usual reliability after this fall's wet harvest conditions.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    All three wheat prices closed modestly higher with December Minneapolis wheat up 7 cents on what was otherwise a quiet day of trading. Winter wheat prices found support from this year's slower planting pace and row crops ended...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grains did not stray far from Friday's closes, but December corn did manage a 2 3/4 cent gain with help from bullish export activity. Most commodities were lower Monday, but December natural gas was up 8% with colder temperatures...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats not only closed higher Friday, but also posted higher closes for the week. Thursday's tweet from President Trump remained a topic of discussion Friday while corn and soybean harvest made...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    December cattle are modestly higher early Friday, but still keeping a sideways tone for the week while the cash market gets ready to do business under favorable circumstances for higher prices. Hogs are roughly even on Friday...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans finished up 30 1/4 cents after President Trump tweeted that trade discussions with China were moving along nicely with meetings being scheduled at the end of this month. Corn and wheat also closed higher...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    December cattle are steady and hogs are lower early Thursday with traders waiting for cash cattle sales to develop. December hog prices are falling back from well-known resistance, but both beef and pork showed active export...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans saw their first gain this week, ending up 4 3/4 cents Wednesday, the final day of October. Wheat prices threatened lower closes all day but finished with just small losses, similar to corn.

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    December cattle and hogs are off to higher starts early Wednesday with help from Tuesday's higher boxed beef prices and pork carcass prices that appear to be holding their own.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    With the U.S. economy doing well, the U.S. dollar index is trading at its highest price in over a year and most commodities are lower, including grain prices. Corn, soybeans and all three wheats fell to lower closes Monday, struggling...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    December hogs are pushing higher again early Tuesday, challenging resistance at $60.00 while cattle and feeders are starting lower. Grains are a little lower and outside commodities are mixed.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Monday proved to be a quiet day of trading for grains with December corn down a penny and December K.C. wheat up 1 1/4 cents. January soybeans fell a little lower early in the session and didn't move much until the close while...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell-Livestock

    December hogs and cattle are starting a little higher Monday with help from Friday's higher cash cattle prices and a higher start in the Dow Jones. December hog traders will be watching for a possible test of resistance at $60...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December contracts of Kansas City and Chicago wheat both posted double-digit gains Friday, reducing their losses for the week with help from excessively wet conditions in the U.S. and another reduction in Australia's wheat crop...

  • The monthly chart of DTN's national index of cash soybean prices shows current prices trading near their lowest level in 11 years. From a contrarian's perspective, there are several reasons to believe prices may be near a long-term low. (DTN ProphetX chart)

    Todd's Take

    We mortals aren't very good at predicting the future, but we can notice the signs of an oversold market.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats closed lower again Thursday, finding another week of bearish disappointment in USDA's bearish report of export sales. December K.C. wheat fell to its lowest close in 2018.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats ended lower Wednesday, finding little encouragement for buyers while the U.S. dollar traded closer to its 2018 high. December K.C. wheat fell to a new three-month low and December soybean meal...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats were mixed Tuesday, all finishing within one cent of Monday's closes on generally light volume. That was a distinct contrast to the broad selling among the world's equity markets and among most...

  • DTN Early Word Grains

    December corn was up 3/4 cent, November soybeans were down 4 1/4 cents, and December K.C. wheat was down 1/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn and November soybeans held small gains at the close, even though harvest weather still looks beneficial this week. All three wheats finished lower, pressured by more bearish export news and a rising U.S. dollar.