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

  • Thursday's (June 17, 2021) 5.50-cent limit down close in July soybean oil, related to concerns about a possible change in biofuels policy has prices challenging the 100-day average at 55.68 cents, a level that has not been broken since June 2020. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    For almost a year, soybean oil prices had been trading relentlessly higher. That all changed this past week when oil refiners got on the phone.

  • USDA will release its latest supply and demand estimates at 11 a.m. CDT Thursday, June 10. (USDA logo)

    USDA Report Preview

    What to expect from the World Agricultural Supply and Demand Estimates (WASDE) report to be released on Thursday, June 10.

  • This comparison of topsoil moisture deficits shows a drier situation for the top six spring wheat states in 2021 versus 2017. In 2017, September Minneapolis wheat hit a high of $8.68 1/2 on July 5. (USDA graphics)

    Todd's Take

    Cursed with the lowest good-to-excellent crop rating since 1988, spring wheat prices have the potential to go even higher.

  • (Getty Images, Photo Illustration by Barry Falkner)

    Inside the Market

    Early indications are that China's demand for corn and soybeans will remain strong in 2021-22. DTN Lead Analyst Todd Hultman explains why.

  • This picture, taken May 7, outside an elevator in Madison, South Dakota, stands as a reminder of how widespread the cash corn rally became, reaching well into the Western Corn Belt. (DTN photo by Todd Hultman)

    Todd's Take

    The month of May began with commercials bidding cash corn up to astonishing levels. Rain then showed up in the forecasts and took prices more than $1 per bushel lower before Thursday's trade turned limit up.

  • (Illustration by Nick Scalise)

    DTN's Quick Takes

    OMAHA (DTN) --After the Sunday evening open, July corn is down 9 1/2 cents, July soybeans are down 7 1/4 cents, July KC wheat is down 5 1/4 cents and September Minneapolis wheat is down 6 1/2 cents. Beneficial precipitation fell...

  • This chart shows DTN's National Soybean Index falling back from its May 12 high of $16.47 and losing a quick 17 cents in basis since the end of April. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    For a crop estimated to have the tightest ending supplies in seven years, there is something odd about recent weakness in cash soybean prices.

  • This chart shows DTN's National Corn Index near-vertical climb since August 2020. Is the end of this bull market near, or are we protecting ourselves from past disappointments? (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Earlier this week, corn prices traded above $7 and soybeans were above $16. Why are so many expecting the bottom to fall out?

  • USDA will release its latest supply and demand estimates at 11 a.m. CDT Wednesday, May 12. (USDA logo)

    USDA Reports Preview

    What to expect from the World Agricultural Supply and Demand Estimates (WASDE) report, to be released on Wednesday, May 12.

  • This chart shows price ranges of DTN's National Corn Index since 1993, divided by USDA's estimated cost of production, excluding land expenses. Prices typically trade between 90% and 150% of cost and have some notable past peaks. (Chart by DTN Lead Analyst Todd Hultman)

    Todd's Take

    Making historical comparisons is difficult as circumstances are never the same. We look at one fundamental metric for comparing today's corn price to previous highs.

  • (Photo Illustration by Nick Scalise)

    Inside the Market

    For corn and soybeans, understanding the seasonal patterns of each has been a helpful tool guiding risk-management decisions for decades. Is that still the case after 2020?

  • December corn closed at $5.46 1/4 on Thursday, April 29, 2021. Given all the uncertainties ahead, does it make sense to buy a December $5.00 corn put and limit downside risk to roughly $4.68? (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    New-crop corn prices are trading near their highest level in over seven years, supported by many bullish factors. Does it make sense to buy a put option in 2021?

  • The last time national cash corn prices were as strong versus the futures board as they are now was in 2013. After a sharp drop related to USDA's Prospective Plantings report in 2013, DTN's National Corn Index rallied to a peak of $7.17 per bushel on June 19, 2013. According to USDA, the 2012-13 season ended with a corn surplus of 821 million bushels. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    According to USDA, the U.S. will have 1.35 billion bushels of corn at the start of the new 2021-22 season. That is not what corn prices at $6.00 and higher are saying in April.

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Friday, April 9. (USDA logo)

    USDA Reports Preview

    On Friday, April 9, USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.

  • Before Wednesday, March 31, December corn was falling back from its recent high of $4.85 3/4 and even closed below its 50-day average on Tuesday in anticipation of a bearish USDA report. By Wednesday's close, it was apparent the uptrend for December corn was not yet over. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Before Wednesday, March 31, December corn was looking toppy for a lot of reasons. USDA's reports changed that on Wednesday.

  • (Progressive Farmer image by Jim Patrico)

    Inside the Market

    There's a lot of head shaking about how quickly U.S. grain markets have gone from surplus to tight supply conditions.

  • On March 18, July KC wheat fell to a new two-month low and closed below the 100-day average for the first time since late-August; the first bearish change in trend among major U.S. crops. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Out of the big three U.S. crops, KC wheat becomes the first to break out of its uptrend in 2021. What more can we expect?