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

  • USDA will release its September Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Thursday, Sept. 12. (USDA logo)

    USDA Reports Preview

    USDA's corn and soybean production estimates will include objective yield data from the fields for the first time in Thursday's Crop Production and WASDE reports and will get traders' attention, at least for a day. Analysts are...

  • (Nick Scalise)

    Inside the Market

    This year's corn crop has had an unusually high number of adverse weather challenges in 2024. USDA's September WASDE report has an opportunity to fill in many of the blanks of where this year's crop stands.

  • Todd Hultman started his career in early 1985 as a young commodity broker, relying on DTN quotes in Omaha, Nebraska, and will soon be wrapping up his career, speaking at fall farm shows as DTN's Lead Market Analyst. Todd is not dead. He is looking forward to other, less stressful pursuits, long neglected after 40 years in the business. (DTN ProphetX chart)

    Todd's Take

    After 40 years in the commodity business, this analyst is retiring. To those that have gotten to know me during my time at DTN, thank you for joining me on the journey. It's been a good ride with lots of unexpected turns along...

  • On Aug. 1, the yield on 10-year T-notes broke below support and fell to 3.98%, the lowest yield in six months as the U.S. economy started to show hints of slowing. (DTN ProphetX chart)

    Todd's Take

    The Fed is doing exactly what it said it would do to restrain inflation, and the concerns I raised in this space in 2022 have also come about. For ag markets, the Fed's campaign to raise interest rates has gone too far.

  • (Wirestock, Getty Images)

    Inside the Market

    Heavy rains, hail, severe weather and tornadoes added to planting challenges in early 2024. Now, we begin the process of trying to determine the yields that will follow that turbulent start.

  • Generally speaking, November soybeans typically trade between plus and minus 10% of their 100-day average, except in extreme situations. Current prices are near the low end of that typical range (DTN ProphetX chart).

    Technically Speaking Blog

    Favorable crop prospects in the U.S. have encouraged specs to sell November soybeans to their lowest price level in over three and a half years, creating a bargain for potential buyers. Technically speaking, there is also reason...

  • USDA Reports Preview

    Friday's July 12 USDA reports will update balance sheets with new estimates from the June 28 Acreage and Grain Stocks reports, including estimates of ground that was not planted at the time of the June survey.

  • One of the technical clues of long-term price support takes place when prices trade at a new low temporarily, but don't get very far and then reverse higher. That happened to September palm oil in early 2023 and appears to have just happened in August soybean oil (DTN ProphetX chart).

    Technically Speaking Blog

    More than just salad dressing, the world's plant oils are increasingly being sought out as low-carbon substitutes for fuel as prices show signs of increased demand.

  • After six months of trading in 2024, the high for DTN's National Corn Index has been $4.49, 57 cents below USDA's $5.06 cost of production estimate for the prior year. Since ethanol began in 2007, 2017 has been the only calendar year in which the index did not closely reach USDA's cost of production estimate at least once, an unusually bearish situation that funds have big bets on. (DTN ProphetX chart)

    Todd's Take

    Since the ethanol industry was authorized in 2007, 2017 stands alone as the only year in which DTN's national index of cash corn hasn't reached USDA's cost of production estimate at least once...

  • USDA will issue its Acreage report and quarterly Grain Stocks report for June 1 on Friday, June 28. (USDA logo)

    USDA Reports Preview

    USDA will release its Acreage and quarterly Grain Stocks reports at 11 a.m. CDT on Friday. However, because USDA's planting estimates are based on its survey in the first two weeks of June, Friday's acreage estimates won't reflect...

  • As of June 22, 2024, the value of crushed soybeans, based on July futures prices, exceeded the cost of soybeans by $1.99 a bushel, the most profitable margin for processors since last fall. (DTN ProphetX chart)

    Todd's Take

    AAA retail diesel prices that peaked at $5.82 a gallon two years ago this month were down to $3.81 Friday. Soybean oil has formidable competition in the renewable diesel market, but the incentive to crush soybeans remains enticing.

  • Managed futures funds are heavily net short corn and took the December contract to a new three-month low Friday, June 21. DTN's national index of cash corn prices, however, has not broken below support yet, a more sober reflection of this year's production hurdles and active demand (DTN ProphetX chart).

    Technically Speaking

    Managed futures funds are heavily net short in corn futures, but cash prices reflect uncertain prospects for 2024 production and strong demand at these lower prices.