Todd Hultman

DTN Grains Analyst
Todd Hultman

Todd Hultman is a DTN grains 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 Dailyfutures.com, an online educational resource for futures traders. That same strong interest to research and teach brought a Todd to DTN where he looks forward to 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 photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is up 3/4 cent, March soybeans are unchanged, and March Chicago wheat is up 1/2 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Row crops closed higher Tuesday in spite of beneficial rains reported in Argentina over the weekend and winter wheat prices finished lower in spite of bitter cold temperatures reaching the U.S. Southern Plains. Tuesday's largest...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is up 2 cents, March soybeans are up 7 1/4 cents, and March Chicago wheat is down 3 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans took back 10 1/2 cents of this week's losses on Friday, helped by a slightly smaller crop estimate from USDA. Friday's reports weren't as kind to corn and wheat prices with March Chicago wheat dropping 12 3/4 cents...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is up 1/2 cent, March soybeans are down 3/4 cent, and March Chicago wheat is up 1/2 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans fell another nickel while March soybean meal dropped to its lowest close in over three months, pressured by favorable forecasts in South America and a lack of export business here in the U.S. March Minneapolis...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is down 1/4 cent, March soybeans are up 3/4 cent, and March Chicago wheat is down 2 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans fell 8 3/4 cents Wednesday to its lowest close since August, weighed down by favorable crop conditions in Brazil, a slow pace of U.S. soybean exports, and a bearish rumor concerning China. Corn and winter wheat...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is up 3/4 cent, March soybeans are down 2 1/4 cents, and March Chicago wheat is up 1 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Tuesday turned out to be a quiet day of low-volume trading for grains with mixed results. March soybeans were down a few cents with rain headed to Argentina later this week while grains' biggest gain went to March K.C. wheat, up...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is up 1 1/4 cents, March soybeans are down 3 3/4 cents, and March Chicago wheat is down 1 3/4 cents.

  • For December corn futures, 2017 was a year of choppy prices that ended with a bearish slide lower. The last few months of the year benefited bearish noncommercial traders (shown in red), but the best tips in the first nine months came from commercial positions (shown in blue), the companies that know the grain business best. (Source: DTN ProphetX).

    Todd's Take

    The 2017 Crystal Ball Award for the most helpful futures positions in corn, soybeans and wheat once again goes to the market's commercial firms.

  • DTN Early Word Grains

    March corn was up 3/4 cent, March soybeans were down 3 1/4 cents, and March Chicago (SRW) wheat was down 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn and March soybeans were both down 4 cents Monday, pressured by another bearish report of weekly export activity and trader caution ahead of Friday's USDA reports. Winter wheat contracts also closed lower as warmer...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is unchanged, March soybeans are down 3 cents, and March Chicago wheat is down 3 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans ended a little higher Friday, while all three wheats were lower after a quiet day of trading. All the above, however, started 2018 with an initial week of higher prices, in spite of hearing from USDA that last...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is down 1/4 cent, March soybeans are up 2 3/4 cents, and March Chicago wheat is down 3 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    On a day when most grains and other commodities traded lower, March Minneapolis wheat jumped up 8 cents to its highest close in four weeks, helped by commercial buying and ongoing concerns of drought in the northwestern U.S...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn is down 1/2 cent, March soybeans are down 3 1/4 cents, and March Chicago wheat is down 2 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March K.C. wheat closed up 6 1/4 cents Wednesday, reaching its highest close in five weeks with ongoing concerns about cold and dry conditions in winter wheat country. Other grains were quiet, but mostly higher with March soybeans...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    On the first day of 2018, winter wheat prices led grains higher with help from commercial buying after an exceptionally cold weekend extended into the Southern Plains. Corn and soybeans also finished higher with persistent concerns...

  • Investors tend to bet on a hot hand, but the past 21 years of data shows that the top performing commodity of each year lost an average of 8.1% the following year while the worst-performing commodity gained an average of 13.8% (Source: DTN's ProphetX).

    Todd's Take

    Regression to the mean offers powerful influence on market behavior and it runs opposite to what we normally expect.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Should old price acquaintances be forgot in 2017? U.S. corn and winter wheat growers will shout "yes" as those prices offered slim opportunities for producers in 2017 and ended near their lowest spot levels in 11 years. March...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 1 cent, March soybeans were up 1 3/4 cents, and March Chicago wheat was down 3/4 cent.

  • (DTN photo illustration by Nick Scalise)

    Top 10 Ag News Stories of 2017: No. 1

    For a while, it looked like U.S. corn production might take a hit in 2017, but a record high corn yield defied expectations and sent prices back to multi-year lows. That led it to become the No. 1...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans fell 10 3/4 cents to a new three-month low Thursday, pressured by favorable wheat in South America and a new six-month low in March soybean oil. Other grains were quiet with March corn down 1 3/4 cents and...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 3/4 cent, March soybeans were down 2 1/2 cents, and March Chicago wheat was down 1 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Wednesday was wheats turn to trade higher as Chicago and K.C. contracts benefited from commercial buying and noncommercial nervousness about this week's exposure to cold temperatures. Corn managed a slight increase for the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 3/4 cent, March soybeans were up 3 1/2 cents, and March Chicago wheat was down 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and wheat ended mixed with low trading volume Tuesday while concerns about hot temperatures and a drier forecast for Argentina kept traders interested in owning soybeans. Most other commodities traded higher Tuesday with...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    Back from Christmas, U.S. grain futures will begin trading at 8:30 a.m. CST.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    If you guessed that not much would happen in grain markets on Friday before Christmas, you were right, as corn and soybeans gained roughly a cent and Chicago wheat was down a couple -- all on extremely light volume. USDA...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March soybeans closed lower for the eleventh time in the past 12 trading sessions, pressured by more rain in South America and news that China is enforcing tighter restrictions on U.S. soybean shipments. Corn and wheat ended...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1/2 cent, March soybeans were down 1 3/4 cents, and March Chicago wheat is up 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Chicago and K.C. wheat contracts both closed modestly higher with help from commercial buying and concerns about colder temperatures coming to the southwestern U.S. Plains the next several days. March corn was up 1 3/4 cents...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1/4 cent, January soybeans were up 3 1/2 cents, and March Chicago wheat is down 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 5 1/2 cents to another new three-month low Tuesday, pressured by a favorable forecast for South America. Corn and winter wheat were quiet, not finding much attention this time of year.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1/2 cent, January soybeans were up 1 cent, and March Chicago wheat is up 3/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 5 3/4 cents to their lowest close in three months after central Argentina received rain over the weekend. Corn was quiet once again while winter wheat was helped to a small gain by lower trading in Monday's...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 3/4 cent, January soybeans were up 2 1/2 cents, and March Chicago wheat is up 3 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    It is difficult to say what grain traders were doing Friday, but buying and selling grains was not at the top of their lists as corn, soybeans, and winter wheat all posted tiny changes for the day with not much volume. Talk of an...

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) -- As we near Friday's close, March corn is down 1 3/4 cents, January soybeans are down 2 3/4 cents and March Chicago wheat is down 2 cents. Among grain contracts, the only pluses on Friday's board are March...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 11 1/2 cents to within a cent of their November low as bullish traders may be losing patience with the latest forecasts of rain for Argentina. Corn ended slightly lower and all three wheats were a little higher...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After making new contract lows earlier this week, March Chicago and K.C. wheat contracts got a lift of light commercial buying Wednesday, ending up 6 cents and 5 cents respectively. March corn managed a slight gain and January...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1 1/4 cents, January soybeans were up 4 cents, and March Chicago wheat is up 2 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans closed down 6 3/4 cents Tuesday after USDA reduced its soybean export estimate by 25 million bushels for 2017-18. Corn and winter wheat tried to trade higher but ended at new contract lows as USDA's estimates...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 3/4 cent, January soybeans were down 1 3/4 cents, and March Chicago wheat is up 3/4 cent.

  • In a year that was mostly bearish for grain prices, spot Minneapolis wheat prices are on track for a 12% gain after drought hit the northwestern U.S. Plains. The big winners of 2017 were the S and P 500 Index, up 18%, and bitcoin, up over 21 times last year's price and not shown on the chart above. Source: DTN ProphetX. (DTN chart by Todd Hultman)

    Todd's Take

    2017 will be remembered as the year of bitcoin's meteoric rise. Among more traditional assets, the stock market soared to new heights while grains were largely ignored.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Monday turned out to be another winner for bearish bets on grains as March corn closed within a tick of its contract low and winter wheat fell to new lows. January soybeans ended down 7 1/4 cents with light to moderate rain...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 1 3/4 cents, January soybeans were down 5 cents, and March Chicago wheat is down 3 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    The March contracts of both, Chicago and K.C. wheat fell to new contract lows Friday as buyers remain difficult to locate. Otherwise, Friday's trading was quiet with January soybeans down 2 1/4 cents after rain fell in western...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 2 cents, January soybeans were up 2 cents, and March Chicago wheat is up 2 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grain prices put in a bearish performance Thursday with January soybeans down 10 3/4 cents and all three wheats falling to new contract lows. March corn dropped to within a few cents of this year's low as noncommercial traders...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 1/2 cent, January soybeans were down 8 cents, and March Chicago wheat is down 1 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March Minneapolis wheat dropped 12 1/2 cents to a new five-month low after Statistics Canada raised its all wheat estimate from 27.1 million metric tons to nearly 30.0 mmt for 2017. Corn stayed mostly quiet, but January soybeans...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1 1/2 cents, January soybeans were up 3 1/2 cents, and March Chicago wheat is down 1 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November 2018 soybeans closed up 7 cents at its highest close in over four months Tuesday, boosted by concerns of dry weather in Argentina. The January contract was up a dime, just short of its October high while corn was...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1 cent, January soybeans were up 6 1/4 cents, and March Chicago wheat is down 1/4 cent.

  • The long-term chart of K.C. wheat shows that no matter how crazy prices get in the short run, they typically return to the 10-year average (green line) within a few years -- a good reminder of the market's powerful balancing effect. (DTN chart by Todd Hultman)

    Todd's Take

    Among U.S. grains, K.C. wheat may be the least of these, but it also plays an important part in grains' bearish spiral.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybean meal closed up $7.30 Monday at a new four-month high while corn, wheat and most other commodities traded lower. Investors were busy bidding up prices of the U.S. dollar index and stock market after the U.S...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1 1/4 cents, January soybeans were up 10 1/2 cents, and March Chicago wheat is up 4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats closed higher Friday with traders possibly responding to this season's La Nina conditions. Outside markets were active on a busy news day with most commodities other than cattle trading higher.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was up 1/2 cent, January soybeans were up 3 cents, and March Chicago wheat is down 1/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn ended up 2 1/4 cents Thursday, the final day of November, but was down nearly 4 cents on the month as March contracts of corn and wheat are still not far from their lows for 2017. January soybeans fell 6 3/4 cents...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 1 1/4 cents, January soybeans were down 5 1/4 cents, and March Chicago wheat is down 3 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March corn ended lower Tuesday, plagued by the same bearish themes we've heard all fall while a late buying spree gave winter wheat slight gains for the day. January soybeans and meal erased Monday's gains with rain reported in...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 1 cent, January soybeans were down 4 3/4 cents, and March Chicago wheat is up 1/2 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    March Chicago and K.C. wheat prices fell to new contract lows Monday, also taking corn and spring wheat lower in the process. January soybeans, on the other hand, held firm with help from noncommercial buying in soybean meal.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    March corn was down 1 1/4 cents, January soybeans were up 1/4 cent, and March Chicago wheat is down 3 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans, and all three wheats closed lower Friday on light volume with new contract lows posted in Chicago and K.C. wheat. Outside commodities were mixed while the December U.S. dollar index fell to a new one-month low.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    8:15 a.m. CST CME Globex: U.S. grain futures will resume trading at 8:30 a.m. CST for a short Friday session that ends with most grains closing at 12:05 p.m. CST.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December soybean meal upset Wednesday's expectations for quiet, pre-holiday trading and posted a new one-month high, likely related to the current stretch of dry weather in Argentina. January soybeans followed with an 8 1/4 cent...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Winter wheat led Tuesday's grains with modest gains in a quiet, pre-holiday session. December K.C. wheat was up 4 1/4 cents, helped by commercial buying, while corn and soybeans napped their way to slightly lower closes.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1 1/2 cents, January soybeans were down 2 cents, and December Chicago wheat was down 3/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn ended a couple cents higher Monday with help from modest commercial buying, while soybeans overcame a lower start to finish a fraction lower on the day. The larger movement was in wheat contracts where the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1/4 cent, January soybeans were down 3 1/4 cents, and December Chicago wheat was down 3 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Not only were grains higher on Friday, but several outside commodities were also in the black, turning Friday into Commodity Appreciation Day. In the case of grains, December soybean meal led percentage gainers and helped lift...

  • This chart shows percentage gains in DTN's national index of cash corn prices from Nov. 30 to May 31 in years when U.S. ending corn stocks represented 15% of annual use or more. The red dashed line represents an average gain of 7% for all nine years. (Source: DTN ProphetX)

    Todd's Take

    Storing corn in a year of heavy supplies has a mediocre record, but is not completely unreasonable.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    8:15 a.m. CST CME Globex: December corn was up 1 1/4 cents, January soybeans were up 4 cents, and December Chicago wheat was up 3 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn slid to its lowest close in 2017 and January soybeans were down 4 1/4 cents, both failing to convince potential buyers on another quiet day of trading. December Chicago wheat drew just enough commercial support to...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/4 cent, January soybeans were unchanged, and December Chicago wheat was up 2 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Wednesday's trade was marked by low volume, but prices did show movement with January soybeans up 8 1/2 cents and December Chicago wheat down 8 cents. Corn stayed quiet, near its lows for the year while rain continued to...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/2 cent, January soybeans were up 3 3/4 cents, and December Chicago wheat was down 2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn fell 4 3/4 cents to a new contract low Tuesday, just a few sessions after USDA raised its U.S. corn crop estimate to 14.58 billion bushels. January soybeans fell to its lowest close in five weeks, pressured by more...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 3/4 cent, January soybeans were up 2 3/4 cents, and December Chicago wheat was down 1/4 cent.

  • The U.S. Drought Monitor maps above show at least six of the top eight corn-producing states in 2017 (right map) had significantly drier conditions in early August than in 2016 (left map), including the top producing state of Iowa (Source: National Drought Mitigation Center, University of Nebraska).

    Todd's Take

    If USDA is correct, significantly drier conditions in 2017 just produced a record high national corn yield.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After several weeks of trying to trade higher, January soybeans broke to their lowest close in five weeks, pressured by beneficial rains in Brazil. Wheat prices also fell lower, taking back last week's gain while wheat supplies remain...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn calmed down after Thursday's selling and closed 2 cents higher, helped by a modest response of commercial buying to Thursday's new low. Soybeans and winter wheat were also a little higher on light volume, holding...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1/2 cent, January soybeans were up 2 1/4 cents, and December Chicago wheat was down 3/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn fell 6 3/4 cents to a new low after USDA estimated a record high yield of 175.4 bushels an acre in Thursday's WASDE report. January soybeans fell 12 3/4 cents on a neutral report, influenced by corn's decline while...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/2 cent, January soybeans were up 1 1/2 cents, and December Chicago wheat was up 1/2 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn, January soybeans, and two out of three wheats ended higher Wednesday with the biggest percentage gain seen in December Minneapolis wheat. Trading was cautious ahead of Thursday's WASDE report, but corn and...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1 cent, January soybeans were up 2 cents, and December Chicago wheat was down 3 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and winter wheat ended a little lower Tuesday, soybeans and spring wheat were a little higher with many waiting to see what USDA will say in Thursday's WASDE report. Gold and crude oil were a little lower with traders cautious...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 3/4 cent, January soybeans were down 1 cent, and December Chicago wheat was down 4 cents.

  • The red rectangles on this chart of spot corn futures identify years when world annual GDP growth fell below 3%. If the IMF is correct, world GDP will expand 3.6% in 2017 and 3.7% in 2018 -- a positive change for grain demand. (Sources: DTN ProphetX and WorldBank.org at http://bit.ly/2ziquEb)

    Todd's Take

    After five years of slow GDP growth, the world is starting to wake up.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans took back part of Friday's 12 1/2 cent loss with help from commercial buying in soybean meal and bean oil. Commercial buyers also helped lift winter wheat prices to higher closes Monday while corn barely moved.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1 1/2 cents, January soybeans were up 2 cents, and December Chicago wheat was up 3 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans fell 12 1/2 cents Friday, heading into the weekend with a crop-friendly forecast for increased rains across central Brazil the next seven days. December corn ended down 2 1/4 cents while winter wheat contracts...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1/4 cent, January soybeans were down 3 1/4 cents, and December Chicago wheat was up 1 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats finished higher Thursday as light trading volume suggested that seasonal harvest pressures may be easing. December K.C. wheat was the largest percentage gainer, closing up a dime from...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 3/4 cent, January soybeans were up 3 3/4 cents, and December Chicago wheat was up 2 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans closed up 6 1/2 cents Wednesday, helped by commercial buying and possibly influenced by Brazil's early dry start. December corn also benefited from light commercial buying while winter wheat contracts ended slightly...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1 cent, January soybeans were up 3/4 cent, and December Chicago wheat was down 1 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December Chicago wheat and December K.C. wheat both fell to new contract lows Tuesday as premiums in the futures contracts continue to dissipate over time. December corn ended 3 cents lower, but January soybeans held steady...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1/2 cent, January soybeans were up 1 3/4 cents, and December Chicago wheat was down 1/2 cent.

  • Breakouts in the U.S. Dollar Index and in December crude oil were two of the more interesting market moves in October. The October highlight for this analyst was seeing the Nobel Prize of Economic Sciences go to Professor Richard Thaler, an economist who understands markets are people. (Source: DTN ProphetX).

    Todd's Take

    Grain prices did not give producers much to cheer about in October, but the Nobel Prize in Economics offered a glimmer of hope as to how we look at markets.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    With one more day left in October, December corn was unchanged while January soybeans were down 2 cents and December Chicago wheat was down 2 1/2 cents. Outside markets showed more activity with the December U.S. dollar index...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/4 cent, January soybeans were up 5 cents, and December Chicago wheat was down 3/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    January soybeans closed up 4 cents Friday, helped by modest gains in vegetable oil prices, while corn and wheat slipped lower in the face of a second day higher in the U.S. dollar index. In outside markets, December crude oil is...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheat futures closed lower Thursday, pressured by the U.S. dollar index trading at its highest price in over three months. Traders largely ignored concerns about windy and wintry weather coming to the...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November soybeans ended 5 1/4 cents lower Tuesday with much-needed rain for central Brazil in next week's forecast. USDA also showed a jump in last week's soybean harvest progress while corn and wheat added small gains to...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1 cent, November soybeans were down 3 1/4 cents, and December Chicago wheat was down 2 1/2 cents.

  • Talk of a big tax cut, uncertainty over President Donald Trump's preference for the next Fed chair, and lack of North American Free Trade Agreement progress are three potentially bearish issues weighing on this fall's corn prices (Source: DTN ProphetX).

    Todd's Take

    A 14.28 billion bushel U.S. corn crop is weighing on prices, but that is not all that's keeping corn prices down.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After posting bearish closes on Friday, December corn and winter wheat contracts rebounded Monday with help from commercial buying and concerns about the possibility of freezing temperatures in the southwestern Plains early...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/4 cent, November soybeans were down 1/2 cent, and December Chicago wheat was unchanged.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Friday's trading capped off a bearish week for grains that saw corn and winter wheat prices end near their August lows. November soybeans fell 7 3/4 cents to their lowest close in a week with a bit of support from a 0.33 gain in...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats put in another day of quiet, narrow range trading, but this time, finished with higher closes. Combines were likely busy as Thursday offered another day of pleasant fall weather for row-crop...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1 1/4 cents, November soybeans were up 1 cent, and December Chicago wheat was up 1 1/4 cents.