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

    One day after falling 12 cents, March corn jumped 13 3/4 cents, helped by signs of increased export interest for corn. Soybeans and wheat followed corn's lead with March KC wheat sporting a 9 1/2 cent gain.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn ended up 3 3/4 cents, still getting some positive benefit from Friday's new USDA estimates, while most other commodities traded lower Monday. March soybeans were down 3 3/4 cents as traders remain cautious ahead of a...

  • 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...

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) --On Sunday evening, March corn is up 4 1/2 cents, January soybeans are up 7 cents and March KC wheat is up 4 1/4 cents. Grains are starting higher with bullish hopes carrying over from Friday's trade news.

  • A brief seasonal rally in October lost ground in November as bearish demand concerns outweighed more bullish concerns of adverse harvest conditions. Farmers around the Midwest continue to insist USDA is overestimating the 2019 corn crop and anecdotal evidence is on their side. (DTN ProphetX chart)

    Todd's Take

    USDA's case for a 13.66 billion bushel corn crop is not holding water.

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

    USDA Reports Preview

    With over 1 billion bushels of corn still unharvested, Tuesday's World Agricultural Supply and Demand Estimates report is not likely to tell us much we don't already know. There may be a few tweaks to demand and international wheat...

  • In addition to the usual supply and demand factors that affect grain prices, there is a behavior cycle among investors that sometimes favors financial assets and physical assets, including grains. The tendency of investors to bid stock prices to record highs in 2019, while numerous crop prices are trading at multi-year lows, is eerily reminiscent of markets in 2000. (DTN ProphetX chart)

    Todd's Take

    As we get ready to flip the calendar to 2020, the parallels to 2000 are strangely familiar.

  • 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?

  • 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.