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.

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More From This Author

  • With help from rising prices of corn and soybeans, and from Russia's lower-than-expected wheat surplus, KC wheat is trading at its highest spot prices in six years. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Until this month, spot KC wheat prices slugged it out below $6.00 for nearly six years. Do prices deserve to trade higher?

  • Corn crops in Iowa, Illinois and Minnesota all finished 2020 with a drier stretch of weather. You may be surprised to learn Minnesota showed the largest drop in production in Tuesday's report -- another in a long history of unexpected findings from USDA. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Tuesday's new corn crop estimate of 14.182 billion bushels was the latest in a string of confusing surprises that keep coming from USDA.

  • USDA will release its latest Crop Production, World Agricultural Supply and Demand Estimates (WASDE), Quarterly Grain Stocks and Winter Wheat Seedings reports on Tuesday, Jan 12. (Logo courtesy of USDA)

    USDA Reports Preview

    On Tuesday, Jan. 12, USDA will release its latest Crop Production, World Agricultural Supply and Demand Estimates (WASDE), Quarterly Grain Stocks and Winter Wheat Seedings reports.

  • Until Jan. 6, 2021, spot corn futures had not traded above $5 since May 2014. Are corn's fundamentals bullish enough to support prices above $5? (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    On Jan. 6, March corn briefly traded above $5 for the first time since 2014. Corn has come a long way from the bearishness of early 2020, but are supplies tight enough to support prices at $5 or more?

  • (Progressive Farmer image by Nick Scalise)

    Inside the Market

    Here in the U.S., USDA gathers important grain supply information and freely publishes the data for the world to see. Grain supply information for China is largely hidden, which leaves the U.S. vulnerable.

  • Crude oil prices don't reflect all the market-related events of 2020, but in the first half of the year, oil was at the center of attention as traders awoke to the realization coronavirus was not just a problem in China. (DTN ProphetX chart)

    Top 10 Ag Stories of 2020 - 4 (A)

    No. 4 in DTN's yearly countdown of the top ag news stories looks at the tumultuous 2020 marketing year. There were so many significant market-moving events in 2020, it is easy to forget how much happened.

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

    USDA Reports Preview

    USDA's December WASDE report is usually a mere formality, but traders will be interested to see how tight USDA says soybean supplies are in Thursday's report.

  • The uptrend of roughly five months in China's soybean futures came to an end Wednesday when prices closed clearly below the 50-day average for the first time since May. If China's demand for soybeans is truly waning, the uptrend in U.S. soybeans may soon follow the same plight. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    While the trend of U.S. soybean prices remains up, the market has new bearish concerns to consider.

  • (Progressive Farmer image by Joel Reichenberger)

    Inside the Market

    The future soybean market has so many uncertainties, including China and South America, growers are urged to reduce production risk.

  • Wednesday's 20 1/4 cent drop in March KC wheat was set up by a 10 1/4 cent gain on Tuesday and caught noncommercials off-guard in light pre-holiday trading. No significant change in fundamentals was noted. (DTN ProphetX chart)

    Todd's Take

    If it looks like a duck and quacks like a duck, it's probably market manipulation.

  • Every bull market in soybeans is different. This chart shows January soybean prices gained over $5 a bushel from June 1 to Sept. 4, 2012. The 30-day average described the move well, and the rally was over when prices closed below the average at $16.70 on Sept. 17. (DTN ProphetX chart)

    Todd's Take

    Supply and demand theory only explains part of what happens when supplies get as tight as soybeans are expected to get. Human emotions often add more fuel to the mix.

  • The first May WASDE report of the new-crop season is the poster child of low-confidence estimates. The point of this chart is that USDA's ending corn stocks-to-use ratios in the May report of the new-crop season are not helpful in trying to estimate what the average farm price of corn will be. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Like most WASDE reports, USDA's latest one gave us a lot of new numbers to consider -- some are reliable and some are not. It's important to know which are which.

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    Livestock futures have quickly broken away from the aggressive early week gains with prices mixed in a very narrow range. The lack of activity may keep prices in the current trading range with a combination of follow-through...

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

    USDA Reports Preview

    A look at what to expect when USDA releases its next round of supply and demand estimates, due out Tuesday, Nov. 10.

  • USDA's estimate of 290 million bushels of U.S. ending soybean stocks represents 6.4% of annual use, the tightest surplus in five years. Strong export demand and the possibility of adverse weather in South America are raising concerns the U.S. could run out of soybeans. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    USDA estimates 290 million bushels of U.S. ending soybean stocks for 2020-21, the lowest in five years. Estimate aside, there is a risk that the U.S. could run out of soybeans.

  • (Progressive Farmer image by Joel Reichenberger)

    Inside the Market

    Higher winter wheat prices look likely for early 2021.

  • (Illustration by Nick Scalise)

    DTN's Quick Takes

    OMAHA (DTN) --After the Sunday evening open, December corn is down 3 cents, January soybeans are down 5 cents and December KC wheat is down 3 cents. The weekend saw more favorable harvest weather across the central U.S.

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    December cattle were steady to lower early and December hogs higher early Friday, waiting for more cash cattle trade to develop. Outside markets are leaning bearish for commodity prices early Friday, influenced by a new high in...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    December hogs were starting lower Thursday after USDA reported 29,000 mt of export sales for last week, only 2,500 mt of which was for China. Cattle and feeders are cautiously steady after a favorable GDP report and also...