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 illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats were lower Tuesday, along with most other commodities on the board. In the case of grains, beneficial rains in the seven-day forecast are the latest source of bearish motivation.

  • This chart shows owning cash soybeans from Nov. 30 to Jun. 30 since 1993 has resulted in a gain of $22.13 a bushel, or nearly 13 cents a month -- a far more generous return than corn has offered over the same time. (DTN chart by Todd Hultman)

    Todd's Take

    Soybeans have had every bearish threat thrown their way in 2017, but continue to be the more profitable row crop Midwestern farmers grow and store.

  • DTN Early Word Grains

    December corn was down 4 cents, November soybeans were down 4 1/4 cents, and September Chicago (SRW) wheat was down 3 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grains traded lower all day long, pressured by rain in the latest seven-day forecast, but corn and Chicago wheat rallied at the end of the session and managed to close a little higher. November soybeans ended down 6 3/4 cents...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 4 1/4 cents, November soybeans were down 9 3/4 cents, and September Chicago wheat was down 6 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans finished Friday with modest gains, trying to stay on their feet after getting hit with USDA's higher-than-expected yield estimates on Thursday. Minneapolis wheat tumbled 29 1/4 cents lower to its lowest close in...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/2 cent, November soybeans were up 5 3/4 cents, and September Chicago wheat was down 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans, and wheat all closed sharply lower Thursday after USDA's estimates of row crop production and world wheat production all came in higher than expected.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    It looks like traders caught up on their sleep Wednesday, getting ready for Thursday morning's weekly export sales and monthly WASDE reports from USDA. Corn, soybeans and wheat all ended steady or a little higher on light trading...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and winter wheat ended lower Tuesday while soybeans and spring wheat were higher, but all traded at familiar, recent prices as traders bide time until Thursday's 11 a.m. CDT report. The September U.S. dollar index traded...

  • Heading into the August WASDE report of 2011, there was reason to expect higher corn prices as USDA's 2011 crop ratings were similar to those we see today. Prices actually fell lower by the end of November, pressured by a bearish surprise in the Sept. 30 corn stocks report and corn's bearish seasonal tendencies related to harvest. (Source: DTN ProphetX)

    Todd's Take

    Crop ratings aside, the 2011 corn market has little in common with 2017, but 2011 does offer a sober warning for this week's WASDE report.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all closed higher Monday with weather concerns still an issue for row crops heading into Thursday's WASDE report. Grains also appear to be finding technical support after three weeks of trading lower.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 3 1/2 cents, November soybeans were up 7 3/4 cents, and September Chicago wheat was up 2 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After a week that saw rain forecasts send grain prices scurrying lower, December corn managed to close 3 1/4 cents higher Friday and held above its ten-month low of $3.75. Soybeans and wheat ended with small losses on a quiet...

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) -- As we near the close, December corn is up 2 1/4 cents, November soybeans are down 3/4 cent and September Chicago wheat is down 1 1/2 cents. Prices are just going through the motions now, waiting for the closing...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November soybeans fell 17 cents as a line of showers made its way across Iowa and Minnesota to Wisconsin, giving relief to some dry areas at a time when roughly half of the nation's soybeans are setting pods. Corn and wheat were...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 3 1/2 cents, November soybeans were down 14 cents, and September Chicago wheat was down 4 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans finished a little higher Wednesday, trimming back a small part of Tuesday's losses with plenty of question marks still surrounding this year's crops. Winter wheat prices were slightly lower with rain falling in North...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 4 1/4 cents, November soybeans were up 7 1/2 cents, and September Chicago wheat was up 4 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grains were all lower Tuesday, but a 35 1/2 cent loss in November soybeans led the way with broad rain coverage expected in the new seven-day forecast. Even September Minneapolis wheat was down 13 1/4 cents, near its lowest...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 2 cents, November soybeans were down 14 3/4 cents, and September Chicago wheat was up 1/2 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans, and wheat prices all closed lower Monday, pressured by rain in this week's forecast which should help drier fields in the western Plains. Meanwhile the spot futures for the U.S. dollar index continue to make new lows...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 5 1/4 cents, November soybeans were down 14 cents, and September Chicago wheat was down 4 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December soybean oil closed up 0.73 Friday after a federal appeals court ruled that the 2016 renewable fuels mandate was incorrectly reduced. Otherwise, trading in grains was fairly quiet Friday with modest gains across the board.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was unchanged, November soybeans were down 3/4 cent, and September K.C. wheat was up 5 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all posted modest gains Thursday on light trading volume. Grains continue to find support from a widespread lack of rain for 2017 crops, especially in the northwestern Plains where drought continues to...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 3 cents, November soybeans were up 8 cents, and September Chicago wheat was up 5 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats were back in the green on Wednesday, a modest renewal of support in this summer of lower crop ratings. Beneficial rains were crossing the central and northern Midwest with Wednesday's hotter...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 1 3/4 cents, November soybeans were down 5 1/2 cents, and September Chicago wheat was up 2 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all ended lower Tuesday in spite of Monday afternoon's lower crop ratings from USDA. This week's forecast for rain across the central and eastern Midwest will be blamed for much of the selling and will be...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 2 3/4 cents, November soybeans were up 7 1/2 cents, and September Chicago wheat was down 3 3/4 cents.

  • While the lack of increase in Dec. 2017 corn prices has been frustrating to many people during a hot July, the daily chart above shows a more bullish response in later months such as Dec. 2018 corn (Source: DTN ProphetX).

    Todd's Take

    December 2017 corn has had little to show for all the crop concerns endured so far.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans closed lower Monday as traders faced a more pleasant seven-day forecast with chances for rain across much of the Midwest. The outlook for the northwestern Plains remains dangerously dry, but September...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 8 1/4 cents, November soybeans were down 20 cents, and September Chicago wheat was down 8 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    As temperatures were rising in the western and southern Corn Belt Friday, December corn prices looked faint, falling 11 1/4 cents on the day while November soybeans pulled back 4 3/4 cents. Wheat prices also finished lower with...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans closed higher for the third consecutive day with ongoing support from hot temperatures and enlarging areas of dry conditions across the Midwest. All three wheats were modestly higher with similar concerns.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 5 cents, November soybeans were up 8 1/4 cents, and September K.C. wheat was down 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grains made one big loop Tuesday, trading higher early and then finishing lower in winter wheat, a little higher in corn and soybeans. September Minneapolis wheat ended 13 1/4 cents higher with ongoing support from drought.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 12 1/2 cents, November soybeans were up 14 1/4 cents, and September K.C. wheat was up 9 3/4 cents.

  • Friday's CFTC data showed noncommercial traders loaded up on the long side of corn on Tuesday, July 11, just before December prices dropped more than 30 cents a bushel in two days. Source: DTN ProphetX.

    Todd's Take

    In spite of all the hype of algorithm-based computer trading, noncommercials are looking quite human again this summer.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Monday saw quieter trading volume and lower closes among corn, soybean, and winter wheat. September Minneapolis wheat closed up 9 1/4 cents with ongoing support from extreme drought in the northwestern Plains.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans finished higher Friday with some profit-taking possible after a bearish week of trading, but also left a lot of questions unanswered about this year's crop conditions. Winter wheat ended a little lower while...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 5 cents, November soybeans were up 7 cents, and September Chicago wheat was up 4 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and all three wheats were hit by heavy selling for a second consecutive day, pressured by bearish changes in the forecast. At the same time, new South American corn supplies are hurting U.S. export business and...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 7 cents, November soybeans were down 24 1/2 cents, and September Chicago wheat was down 12 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and all three wheats were hit with double-digit losses Wednesday, partly due to higher-than-expected supply estimates from USDA and partly due to a bearish change in the weather extended forecast. Soybeans kept losses in...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 5 1/4 cents, November soybeans were down 8 1/2 cents, and September Chicago wheat was down 5 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    In spite of a lower start Tuesday morning, grains finished mixed on the day with a forecast for hot and dry weather next week keeping selling activity limited. December corn ended down a half-cent while November soybeans finished...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 4 cents, November soybeans were down 10 3/4 cents, and September Chicago wheat was down 3 3/4 cents.

  • USDA is expecting the world to consume 804 million bushels of corn, 243 mb of soybeans, and 519 mb of wheat every week in 2017-18 -- a big appetite that requires good weather for producers to keep up (Source: USDA June WASDE report; DTN graphic by Scott R Kemper).

    Todd's Take

    After four consecutive years of good growing weather, the U.S. is encountering problems in 2017.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn posted its highest close in over a year and November soybeans finished at a new high in 2017, supported by Monday's hot and mostly dry forecasts for the Midwest. All three wheats also ended higher with no...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 7 1/2 cents, November soybeans were up 19 1/4 cents, and September Chicago wheat was up 14 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November soybeans and December soybean meal both reached new four-month highs Friday, continuing a remarkable bullish turnaround the past nine sessions with help from chances for hotter temperatures next week. All three wheats...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    September Minneapolis wheat dropped 50 3/4 cents Thursday, finally attracting selling activity after posting its highest close in four years on Wednesday. Corn ended a little lower while November soybeans were up a nickel, helped by...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 7 cents, November soybeans were down 5 1/2 cents, and September Chicago wheat was down 23 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all closed higher Wednesday even though most of the day it looked like wheat would end lower. Hot and dry conditions in the northwestern Plains continue to support grain prices in front of Wednesday...

  • The chart of spot Minneapolis wheat futures above shows that prices have risen rapidly to their highest level in nearly four years, fueled by concerns of drought in the U.S. The trend is clearly bullish, but it can also mask a growing instability (Source: DTN ProphetX).

    Todd's Take

    There is an underlying danger in markets like Minneapolis wheat when prices go sharply higher.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 7 1/4 cents, November soybeans were up 26 cents, and September Chicago wheat was up 29 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all closed higher in a shortened trading session ahead of Tuesday's celebration of Independence Day. Weather continues to be the driving factor with worsening drought in the northwestern Plains and a...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 7 cents, November soybeans were up 22 1/2 cents, and September Chicago wheat was up 11 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    With USDA's June 30 reports now in the history books for 2017, it is a bit remarkable to report that corn, soybeans, and all three wheats closed higher -- not just Friday, but also for the week as a whole. Weather concerns...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 5 cents, November soybeans were up 2 3/4 cents, and September K.C. wheat was up 12 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Once again, Thursday's trading in grains was all about spring wheat and the worsening drought situation in the northwestern Plains. However, this time winter wheat contracts also joined in, closing at their highest prices in three...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 3 cents, November soybeans were up 6 cents, and September K.C. wheat was up 10 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans kept low profiles Wednesday with traders watching rain pass across the northern Midwest and waiting for Friday's USDA reports. September Minneapolis wheat led the way higher again, ending up 22 cents and taking...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    September Minneapolis wheat jumped 17 1/4 cents higher Tuesday, also reaching its highest spot close in nearly two years, with chances for more dry weather ahead in the northwestern Plains. Other grain contracts were not as...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 2 cents, November soybeans were up 7 1/4 cents, and July K.C. wheat was up 2 3/4 cents.

  • The recent weather pattern continues to bring rain to the Eastern Corn Belt while the western edge remains dry, leaving high poor-to-very poor crop ratings in both Indiana and South Dakota. With these early problems, a record national yield doesn't seem likely in 2017 (Source: DTN ProphetX).

    Todd's Take

    Attention Traders: Corn crop conditions aren't as bearish for prices as last week's sell-off suggests.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat dropped 11 1/4 cents Monday as harvest reports out of Kansas continue to show good, 60- to 70-bushel yields out of the central part of the state. Corn and soybeans ended a little higher, just enough to stop last...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 2 1/2 cents, November soybeans were up 6 1/4 cents, and July K.C. wheat was down 7 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After four consecutive days of lower closes, December corn fell another 5 1/2 cents Friday to its lowest close in 2017, pressured by a forecast for moderate temperatures and occasional showers heading into July. November...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1/4 cent, November soybeans were up 2 1/2 cents, and July K.C. wheat was down 1/2 cent.

  • DTN Early Word Grains

    December corn was 1 cent higher, November soybeans were 2 cents higher, and July Kansas City (HRW) wheat was fractionally lower.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Spot soybeans fell to their lowest close in over a year Thursday while December corn dropped 6 cents -- both pressured by a seven-day forecast of pleasant weather across the Midwest. July K.C. wheat ended steady as mixed...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Tuesday was a tale of two directions in grains with pleasant summer weather across most of the Midwest pressuring corn and soybeans lower while July Minneapolis wheat jumped up 16 3/4 cents after USDA issued another round of...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 2 1/2 cents, November soybeans were down 5 cents, and July Minneapolis wheat was up 5 cents.

  • DTN's national index of cash HRW wheat prices shows a three-wave decline from February 2008 to August 2016 where the third wave is very close to 1.618 times the duration of the first wave. Adherents of Elliot wave theory would recognize this as the completion of a classic bear move that fits Fibonacci proportions. (DTN chart; source: DTN ProphetX)

    Todd's Take

    An admitted skeptic tips his hat to Leonardo of Pisa, a.k.a. Fibonacci.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    For the second consecutive Monday, row crops are under pressure from a seven-day forecast that looks favorable for crops. Wheat prices tried to trade higher, but ended mixed on a day when the Dow Jones Industrial Average was...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 4 1/2 cents, November soybeans were up 2 1/2 cents, and July K.C. wheat was up 3 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans, and all three wheats were higher Friday with July winter wheat contracts leading the way to their highest closes in three months. In spite of this week's wetter forecasts, December corn showed only a modest loss...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 1 1/4 cents, November soybeans were up 4 1/4 cents, and July K.C. wheat was up 8 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Grains survived a lower start on Thursday and finished higher, led by a 10 3/4-cent gain in July Chicago wheat. Traders continue to monitor forecasts, which currently expect a mix of rain and hot temperatures in the central...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 4 1/4 cents, November soybeans were down 5 1/2 cents, and July Minneapolis wheat was down 12 1/4 cents.

  • If there was a surprise in the Friday, June 9, report numbers, it was that USDA increased its estimate of Brazil's soybean production from 111.6 million metric tons to 114.0 mmt in 2016-17 and its estimate of Argentina's production from 57.0 mmt to 57.8 mmt. (DTN file photo)

    Few Changes in June USDA Reports

    DTN Senior Analyst Darin Newsom encouraged us to pick a card, any card before the WASDE report on Friday, June 9. It looks like we'll have to pick again before we learn more about this year's crops.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn ended down 3 1/2 cents Wednesday with scattered showers from Nebraska to Ohio and around much of the eastern U.S. Soybeans were unchanged and July K.C. wheat was up a half-cent in a quieter day of trading for...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 3/4 cent, November soybeans were up 3 3/4 cents, and July Minneapolis wheat was up 9 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Monday afternoon's lower spring wheat crop rating was enough to carry July Minneapolis wheat up 27 1/2 cents to a new contract high on Tuesday and also lent bullish influence to winter wheat and corn prices. Soybeans were...

  • Judging by USDA's cost of production estimates for corn, the only farms making money the past two years have been either those with no land expense or those with above-average yields. Will 2017 be any different? (DTN chart; source: DTN ProphetX)

    Todd's Take

    Opportunities for profit in corn have been scarce the past few years. Will 2017 be any different?

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all closed lower Monday as traders concerned about hot temperatures over the weekend saw this week start with a wet seven-day forecast over all but the southwestern U.S. It was also a bearish day for...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was down 7 cents, November soybeans were down 6 3/4 cents, and July Chicago wheat was down 6 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    December corn was up 2 1/4 cents and November soybeans were up 4 1/2 cents, surviving Friday's mildly bearish WASDE report with help from extreme heat staying in the near-term forecast. Winter wheat contracts ended a few cents...

  • If there was a surprise in Friday's report numbers, it was that USDA increased its estimate of Brazil's soybean production from 111.6 million metric tons to 114.0 mmt in 2016-17 and its estimate of Argentina's production from 57.0 mmt to 57.8 mmt. (DTN file photo)

    USDA Report Review

    DTN Senior Analyst Darin Newsom encouraged us to pick a card, any card before Friday's WASDE report. It looks like we'll have to pick again before we learn more about this year's crops.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Thursday morning's bullish start in grains ended with several grains well below their earlier highs, but July Minneapolis wheat held a decent gain, closing up 8 3/4 cents as drought conditions worsen in the northern Plains. USDA's...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    December corn was up 3 cents, November soybeans were up 9 1/4 cents, and July Chicago wheat was up 5 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybean and winter wheat prices all finished higher Wednesday with hot temperatures expected in the forecast this weekend, especially in the western Plains. July Minneapolis wheat ended down 3 1/4 cents, pausing after five...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 4 1/4 cents, July soybeans were up 7 1/2 cents, and July Chicago wheat was up 5 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    What started as a double-digit rally in Minneapolis wheat after USDA showed a drop in spring wheat crop conditions late Monday spread to the other grains Tuesday, resulting in higher prices across the board. July Minneapolis wheat...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 1 1/2 cents, July soybeans were up 1 3/4 cents, and July Minneapolis wheat was up 12 1/4 cents.

  • The chart above shows July soybeans down 9% from the end of 2016, at its lowest prices in over a year with record U.S. plantings expected. Commercials however, have responded to the latest round of selling by adding to net longs on the board -- one of a few signs that suggest support should be near. (Source: DTN ProphetX)

    Todd's Take

    A closer look shows bullish factors lurking beneath the recent sell-off in soybeans.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Oddly enough, trading volume was reasonably moderate on Monday, but difficult to detect as grain prices refused to stray from Friday's closes in front of Monday afternoon's Crop Progress report. July Minneapolis wheat was one...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybean meal closed up $4.40 Friday, showing a response of active commercial buying, which also helped July soybeans end up 9 cents. July corn and winter wheat were modestly higher while July Minneapolis wheat tacked on...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 2 1/4 cents, July soybeans were up 3 1/2 cents, and July Minneapolis wheat was up 2 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans, and winter wheat survived a day of selling with small losses after the latest extended forecast offered hope for drier weather in the eastern Midwest. July Minneapolis wheat celebrated the start of its new year...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 1 1/4 cents, July soybeans were up 4 3/4 cents, and July Minneapolis wheat was up 6 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July corn took a nickel back from Tuesday's 7 1/4-cent loss after USDA's corn crop ratings confirmed weeks of reports of too much moisture in the eastern Midwest. July Chicago wheat ended down a quarter-cent, an uninspiring...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • DTN Early Word Grains

    July corn was 3 cents higher, July soybeans were 2 cents higher, and July Kansas City (HRW) wheat was 4 cents higher.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans continued its fall to new one-year lows for a third consecutive day, pressured by the anticipation of record plantings in 2017. July corn was down 7 1/4 cents and July Chicago wheat was down 8 3/4 cents, also...

  • This chart shows theoretical changes in equity using a trend-following approach for December corn, comparing four moving averages. From 1996 through 2016, using a 60-day simple moving average consistently outperformed the use of 40-, 80- and 100-day averages. Source: DTN ProphetX. (DTN chart)

    Todd's Take

    After putting four simple moving averages to the test for December corn, one outshined the rest.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • DTN Early Word Grains

    July corn was 3 cents lower, July soybeans were 2 cents lower, and July Kansas City (HRW) wheat was 4 cents lower.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans fell another 13 cents Friday, extending Thursday's new one-year low as buying evaporated ahead of Memorial Day weekend. July corn was up a nickel and July Chicago wheat was up 7 1/2 cents, helped by commercial...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November soybeans finished with their lowest close in eight months Thursday as the anticipation of record plantings continues to weigh on prices. Corn and winter wheat contracts ended a little lower in another day of low-volume...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July Minneapolis wheat closed up 6 3/4 cents Wednesday, the largest gain among grain-related contracts, thanks to a third consecutive day of commercial buying. July corn ended a little higher and July soybeans were steady with...

  • DTN Early Word Grains

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans and wheat all closed lower Tuesday, ruled a death by suffocation as virtually no buying interest emerged in spite of a wet seven-day forecast ahead for the eastern Midwest. July soybean oil fell 0.60 after palm oil...

  • The 31-cent drop in July soybean prices on May 18 was related to a 6.5% drop in Brazil's real and was unexpected to many, but may have been deviously orchestrated. Source: DTN ProphetX. (DTN chart)

    Todd's Take

    Last Thursday's 6.5% drop in Brazil's real was a black swan event for most, but it may have been a multi-million-dollar bonanza for a few.

  • DTN Early Word Grains

    July corn was down 2 3/4 cents, July soybeans were down 5 1/2 cents, and July Chicago wheat was down 3 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybean contracts both closed modestly higher Monday on lighter trading volume and, in the case of corn, were reluctant to trade at new highs. Winter wheat contracts started the day higher, but ended a little lower as...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After a week of scandals in the news, commercials responded to this week's lower grain prices with buying across the board on Friday. Winter wheat prices especially were lifted by renewed concerns of too much rain in the Southern...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 2 1/2 cents, July soybeans were up 5 1/2 cents, and July Chicago wheat was up 3 cents.