Todd Hultman

DTN Grains 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

  • DTN Early Word Grains

    July corn was down 2 3/4 cents, July soybeans were unchanged, and July Kansas City (HRW) wheat was down 7 1/2 cents.

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) -- On Sunday evening, July corn is down 1 3/4 cent, July soybeans are up 1/2 cent, and July K.C. wheat is down 4 cents. AP News reported Saturday that China responded to new tariffs from the U.S.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans fell another 21 3/4 cents Friday after President Trump approved roughly $50 billion of new tariffs against Chinese goods -- a move that may lead to retaliatory tariffs on U.S. soybeans as well as other goods. Corn...

  • DTN Early Word Grains

    July corn was down 2 3/4 cents, July soybeans were down 15 1/2 cents, and July Kansas City (HRW) wheat was down 6 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans and all three wheats were lower Thursday with ongoing pressure from mostly favorable weather in 2018 and a lack of obvious growing problems. Adding to bearish pressures, the June U.S. dollar index...

  • DTN Early Word Grains

    July corn was down 3 cents, July soybeans were down 2 cents, and July Kansas City (HRW) wheat was down 7 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans fell 18 cents Wednesday to their lowest close in nearly a year, overwhelmed by bearish concerns, which start with good U.S. crop conditions. Winter wheat prices gave back nearly all of Tuesday's USDA report-related...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    USDA's new supply and demand estimates were mostly small adjustments to May's numbers, but July Chicago wheat jumped up 20 cents Tuesday, partly encouraged by a 3.5 mmt reduction in Russia's wheat crop estimate. July corn ended...

  • The weekly chart of DTN's National Soybean Index cash prices fell 52 cents last week to a new four-month low of $9.04. The bearish break, plus a contingent of bullish traders that need to get out of the market, is leaving soybeans without a bullish argument (DTN ProphetX chart).

    Todd's Take

    Last Thursday's new lows in soybeans followed corn's bearish break, putting more stress on speculators who stayed too bullish in row crops.

  • DTN Early Word Grains

    July corn was up 3 1/4 cents, July soybeans were up 7 1/2 cents, and July Kansas City (HRW) wheat was up 1/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Good growing weather pressured row crop prices lower once again and magnified stress on noncommercial accounts caught heavily long, resulting in another day of sizable losses for corn and soybean futures. July K.C. wheat ended...

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

    USDA Reports Preview

    USDA's June WASDE report will have an update of U.S. wheat production and perhaps some adjustments to U.S. demand tables, but domestic changes are typically small in this monthly report.

  • DTN Early Word Grains

    July corn was down 1 3/4 cents, July soybeans were down 1 3/4 cents, and July Kansas City (HRW) wheat was up 1/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July row crops put an end to two weeks of sharp losses with a mixed close on Friday that saw corn gain a cent and a half, and soybeans fall a nickel to its lowest close in nine months. All three wheats ended lower Friday and for...

  • DTN Early Word Grains

    July corn was down 1 3/4 cents, July soybeans were down 7 1/2 cents, and July Kansas City (HRW) wheat was down 5 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans and corn both fell to their lowest closes in four months Thursday, still pressured by a favorable start for row crops at the beginning of the 2018 season. Winter wheat prices finished modestly higher, continuing to...

  • DTN Early Word Grains

    July corn was up 1 1/2 cents, July soybeans were up 1/4 cent, and July Kansas City (HRW) wheat was up 10 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn and soybeans slid lower Wednesday, still pressured by favorable crop conditions and rain in this week's forecast. Winter wheat prices closed higher, supported by newer concerns of increasing dryness in the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 1/4 cent, July soybeans were up 1/4 cent, and July K.C. wheat was up 7 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After experiencing significant losses over the past five sessions, most grain contracts composed themselves enough to finish with modest gains on Tuesday. Row crops and spring wheat are expected to benefit from light to...

  • July corn fell to its lowest close in three months on Monday, turning corn's price trend down and catching speculators with their largest holding of net longs since 2011. This is a bearish combination that is likely to prompt further selling. (DTN ProphetX chart)

    Todd's Take

    Monday's new three-month low turned corn's trend bearish and put stress on speculators holding their largest net long positions since 2011.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July corn fell 10 3/4 cents to its lowest close in three months, pressured by this week's favorable weather outlook for crops. Soybeans and winter wheat posted declines of nearly 20 cents after weekend trade talks with China...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn and all three wheats dropped further Friday while soybeans managed a modest gain. At the end of the four-day week, all were cheaper than they started, pressured by mostly favorable weather and ongoing...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn and all three wheats ended a little higher on a quiet day of trading in grains while soybeans, soybean meal and bean oil were all modestly lower. Early crop conditions remain favorable in the central U.S...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans and all three wheats sold lower a second day, pressured by rain in this week's forecast and a generally favorable start for row crops and spring wheat in the new U.S. growing season.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was down 2 3/4 cents, July soybeans were down 5 3/4 cents, and July K.C. wheat was down 8 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans and all three wheats sold lower by Tuesday's close, pressured by rain in this week's forecast and a higher U.S. dollar index that is getting fresh support from political problems in Italy. Dec cotton...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was unchanged, July soybeans were down 3 1/4 cents, and July K.C. wheat was up 6 1/4 cents.

  • It was just one year ago that DTN's national index of cash spring wheat prices broke a new three-month high, providing a bullish clue ahead of the drought that was about to hit the northwestern U.S. Plains. Strangely enough, last week's prices just broke a new nine-month high and sparked another bullish case for prices once again. (DTN ProphetX chart)

    Todd's Take

    Much like a year ago before drought sent spring wheat prices higher, bullish signs are starting to re-emerge in 2018.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat closed up 15 cents, nearly reaching it highest prices in 10 months with hot temperatures in store for the southwestern Plains through Memorial Day weekend. Friday's trading was light, but also saw modest gains...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans and all three wheats started the day higher, but finished lower as traders pulled back from new highs in front of a three-day weekend. The June U.S. dollar index was down 0.20 and June gold was...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 2 1/2 cents, July soybeans were up 9 1/4 cents, and July K.C. wheat was up 6 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans and all three wheats finished higher Wednesday, helped by dry weather in Brazil, an easing of trade tensions and a forecast for hotter temperatures in the Southern Plains this weekend. Outside...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Not only did winter wheat contracts lead grains higher, helped by a forecast for hot temperatures this weekend, they led gains for all commodities on Tuesday, except natural gas. Corn and soybeans posted modest gains on a day...

  • USDA expects U.S. wheat supplies to stay plentiful in 2018-19, and international competition has been rough on U.S. exports. Nevertheless, this year's rally in Chicago wheat persists. (DTN ProphetX Chart)

    Todd's Take

    There are numerous reasons why the rally in Chicago wheat should be ending, but prices aren't breaking lower just yet.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans finished up 26 3/4 cents Monday after U.S. Treasury Secretary Mnuchin said both China and the U.S. agreed to suspend tariff proposals while trade negotiations continue. Winter wheat gave back over half of Friday's...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 3 1/2 cents, July soybeans were up 18 1/2 cents, and July K.C. wheat was up 2 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    One day after USDA released bullish-looking new-crop estimates for corn and soybeans, support for grains gave way as the July contracts of corn, soybeans and all three wheats closed lower. July soybeans fell to its lowest close...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was down 3 1/4 cents, July soybeans were down 8 1/2 cents, and July K.C. wheat was down 4 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans closed up 5 1/2 cents Thursday after USDA released lower-than-expected U.S. ending stocks estimates for both, old-crop and new-crop seasons. July corn ended down 3/4 cents and winter wheat contracts were lower...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans, and all three wheats ended lower on light volume Wednesday as traders held back in front of Thursday's WASDE report from USDA. Beneficial rains in Ukraine and southern Russia helped keep wheat...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was down 1/2 cent, July soybeans were down 2 cents, and July K.C. wheat was down 5 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans responded to Monday's 25 1/4-cent loss with an 8 3/4-cent gain on Tuesday, helped by commercial buying in both soybeans and soybean meal. Dec corn ended up 3 cents after rumors swirled that a White House decision...

  • Two weeks ago, DTN's national index of cash corn prices was staying close to its 10-year seasonal path and even showing signs of losing upward momentum. Prices have since jumped higher after Brazil's weather turned dry, a second possible bullish surprise in 2018. (DTN ProphetX Chart)

    Todd's Take

    Roughly two weeks ago, corn prices were sticking close to script, even showing signs of losing upward momentum. Then Brazil turned dry.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans fell 25 1/4 cents to $10.11 1/4 Monday, its lowest close in over two months with ongoing concerns about U.S. soybean demand after Friday's talks with China failed to reach any meaningful agreement. Corn and wheat...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans fell 16 1/2 cents Friday after the two-day meeting of trade talks with China ended without significant agreement. Winter wheat prices fell back from new nine-month highs Friday but still posted decent gains for the...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans traded lower most of the day but finished up 10 1/4 cents with reporting still not clear how the first of a two-day trade meeting went with China. July corn was a few cents higher and July winter wheat contracts...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans closed down 10 1/4 cents on the eve of a new round of trade talks between the U.S. and China. Winter wheat prices were mixed and corn slightly lower on a quiet day of trading.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July Chicago wheat jumped 18 3/4 cents higher Tuesday, boosted by this week's unexpected popularity among commercial buyers. Row crops were also higher and July soybean meal surged $10.60 to a new contract high as Argentina's...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • U.S. soybean prices have a lot riding on this week's meeting between U.S. and Chinese officials as they prepare to talk trade. So far, new-crop spreads in soybeans and soybean meal remain bullish as inverses continue to expand, a sign of aggressive commercial interest in new-crop contracts. (DTN ProphetX Chart)

    Todd's Take

    While this week's meeting between U.S. and Chinese officials is likely to get plenty of attention, new-crop prices of soybeans and meal are showing little concern.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May Chicago wheat jumped 17 cents higher Monday, boosted by commercial buying and a noticeable lack of delivery intentions on the May contract's first notice day. July corn was up 2 1/4 cents, nudged higher by another dry...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 3 cents, July soybeans were up 5 1/4 cents, and July K.C. wheat was up 5 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    In a year when lack of buying from China has been a bearish concern for soybean prices, commercial buying in soybean meal continues to push prices higher with Friday's Dec meal contract closing up $9.30, near its April high. July...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat fell 5 1/2 cents Thursday, taking back part of Wednesday's 14 1/2 cent gain while demand remains a problem for the winter wheat market. Row crops ended mixed, near Wednesday's closes after a session of light...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Winter wheat prices gave rain the raspberry, closing up 14 1/2 cents in the July K.C. contract and facing a forecast that still remains mostly dry after Wednesday. July corn closed up 5 3/4 cents with growing concerns of dry...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July Chicago wheat closed up 9 3/4 cents and July K.C. wheat was up 9 1/4 cents Tuesday, bolstered by USDA crop ratings, which pointed to the worst U.S. winter wheat conditions since 2011. July corn ended up 2 1/2 cents, influenced...

  • The chart above shows significant difference in the behavior of Dec corn prices in the first four months of the year versus the following five. Events of the May to September growing season have taken prices a different direction in 13 of the past 18 years. (DTN Chart)

    Todd's Take

    Corn and soybean prices have traded higher in 2018 but are approaching an important change of season.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July Minneapolis wheat fell 10 3/4 cents Monday as warmer temperatures are chasing snow away from the Northern Plains and are giving better hope for planting in 2018. July soybeans ended down 8 cents with export activity still...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July contracts of corn, soybeans, and all three wheats fell lower Friday, as traders sensed better planting weather ahead and the start of light to moderate showers in the southwestern Plains. The June U.S. dollar index is also...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat was up 6 3/4 cents Thursday, still finding support from drought conditions in the southwestern Plains that are not getting any better. July soybeans dropped 4 1/4 cents after last week's soybean shipments hit a...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July Chicago wheat was up 7 3/4 cents and July K.C. wheat was up 8 1/4 cents, still finding support from concerns of drought and wildfires in the southwestern U.S. Plains. May corn was a little higher and May soybeans were a little...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November soybeans closed up a nickel and December soybean meal was up $3.90 Tuesday, showing a little buying spunk on an otherwise quiet day of trading in grains and oilseeds. December corn was down 1 1/4 cents and July K.C...

  • The weekly charts above show DTN's national indices of corn and HRW wheat matched their highest prices of 2017 in early March, but have not yet been able to trade higher -- possible tops in the making? (Source: DTN ProphetX).

    Todd's Take

    DTN's national indices of cash corn and HRW wheat prices have already matched their highest prices of 2017. Is there reason to expect more?

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    After enduring another winter storm over the weekend and seeing rain in the seven-day forecast for the southwestern U.S. Plains, grains and oilseeds closed lower across the board on Monday. Winter wheat and May soybeans posted...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was down 1 3/4 cents, May soybeans were up 2 3/4 cents, and July K.C. wheat was down 10 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May contracts of corn, soybeans, and all three wheats finished lower, parting ways with most other commodities, while another winter storm grabbed traders' attention at the end of April's second week. Outside markets were fairly...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May soybeans closed up 13 cents Thursday, the highest in a month, with ongoing support from China's demand for Brazil's soybeans and Argentina's drought. Meanwhile, winter wheat prices fell back with a possible chance of rain in...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was down 1 1/4 cents, May soybeans were up 2 1/4 cents, and May K.C. wheat was down 13 3/4 cents.

  • One day after USDA estimated Brazil's soybean crop at a record-high 115.0 million metric tons (4.23 billion bushels), Brazil's FOB soybean price jumped to its highest level since August 2016, some 43 cents above the FOB price in New Orleans. Source: DTN ProphetX. (DTN chart)

    Todd's Take

    If China's proposed tariff on U.S. soybeans and USDA's estimate of a record soybean crop in Brazil sound bearish, you may want to take a second look at the evidence.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May contracts of corn, soybeans, and winter wheat were all modestly lower Wednesday, finding little to get excited about following Tuesday's roughly neutral WASDE report. Outside markets reflected early concerns about a U.S...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May soybeans ended up 3 cents after USDA made only minor changes to U.S. demand estimates for corn, soybeans and wheat in Tuesday's WASDE report. South American crop estimates were more interesting, but corn and wheat showed...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Monday's trading was a little odd in that the largest percentage gainer among grain contracts was not drought-stricken K.C. wheat or frozen tundra spring wheat, but May Chicago wheat, the trader-friendly representative of soft...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May soybeans started Friday's trading session down 28 cents after President Trump proposed another $100 billion of tariffs against China late Thursday but finished up 2 1/2 cents by the end of the day as tariff proposals appear...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was down 2 3/4 cents, May soybeans were down 12 1/4 cents, and May Minneapolis wheat was down 2 1/4 cents, supported by a dry forecast and noncommercial buying.

  • USDA's March estimates of ending soybean stocks from the top three producers shows a slim level of carry in Brazil as China continues to avoid U.S. soybean purchases and even proposed a tariff on U.S. soybeans. (Source: USDA, Oilseeds: World Markets and Trade, Mar. 8, 2018; DTN graphic by Todd Hultman)

    Todd's Take

    I don't have a crystal ball, but for DTN subscribers, Wednesday's proposed soybean tariff should not have been a shock.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn closed up 8 1/2 cents Thursday, erasing Wednesday's 7 1/2-cent drop as traders may have realized China does not buy much U.S. corn. Sep. Minneapolis wheat finished up 14 1/2 cents as cold temperatures and snow on the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was up 2 3/4 cents, May soybeans were up 6 1/2 cents, and May Minneapolis wheat was up 6 1/4 cents, supported by a dry forecast and noncommercial buying.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May K.C. wheat closed up 17 1/4 cents Tuesday after USDA gave the winter wheat crop its lowest good-to-excellent rating since 2002, the result of this year's dry weather. Corn and soybeans tried to join the rally but finished the...

  • After an early drought in Argentina and three bullish USDA reports, December corn is approaching its highest price in a year and noncommercial traders are net long. Is the outlook for corn prices really that bullish? (DTN chart)

    Todd's Take

    After an early drought in Argentina, and three bullish USDA reports, December corn is approaching its highest price in a year and noncommercial traders are significantly net long. Is the outlook for corn prices really that bullish?

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May soybeans fell 9 1/4 cents and May Chicago wheat was down 4 3/4 cents -- two grains that gave up gains early Monday for losses by the close. June hogs fell their daily 3-cent limit on news of China's new tariff and the Dow...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was up 3 cents, May soybeans were up 9 cents, and May Chicago wheat was up 4 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May contracts of corn and soybeans posted double-digit gains Thursday after USDA helped with smaller-than-expected planting estimates for 2018. Winter wheat prices showed a modest gain after USDA said winter wheat acres would...

  • USDA's new planting estimates for 2018 came in a little less than expected for corn and soybeans, and have soybean acres slightly above corn for the first time since the PIK program of 1983. (Chart courtesy of USDA)

    USDA Reports Review

    USDA's lower-than-expected planting estimates for corn and soybeans stole the attention away from more bearish news in USDA's report of March 1 corn and soybean stocks.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May contracts of corn, soybeans, and all three wheats finished lower on light volume Wednesday, waiting for Thursday's Grain Stocks and Prospective Plantings reports from USDA. Other than livestock and some softs, most...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Tuesday's trading volume was light in grains with little news and two important USDA reports set for Thursday. May corn held steady while May contracts of soybeans and all three wheats sagged lower.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • The new-crop Nov/Mar soybean futures spread shows a small carry of 1 1/2 cents, reflecting early concerns among commercials about soybean supplies at harvest time. October to January is also the time of year when China will be most dependent on the U.S. for soybean imports. (DTN Chart)

    Todd's Take

    China can afford to minimize U.S. soybean purchases this summer. By October, the tables should turn and U.S. weather will play a big part.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May K.C. wheat fell 11 cents Monday with scattered showers bringing aid to some of the driest areas of the southwestern U.S. Plains with more chances for light rain the next couple days. May corn fell 3 1/4 cents to its lowest...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    While May soybeans scratched its way back to a 1 1/2 cent loss Friday after China proposed their own list of U.S. goods that would be charged tariffs, May soybean meal overcame early selling and finished up $9.90 on the day...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was down 3 3/4 cents, May soybeans were down 9 1/2 cents, and May K.C. wheat was down 2 3/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    On a day when the Dow Jones Industrial Average was down over 400 points, the grain sector showed little concern, posting mostly small gains on light trading volume. July K.C. wheat led grains with a 6 1/4-cent increase, followed by...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was up 1 1/2 cents, May soybeans were up 3/4 cent, and May K.C. wheat was up 6 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May soybean meal and oil contracts both closed higher Wednesday with higher crude oil prices offering bullish influence to soybean oil. May K.C. wheat slid to a new seven-week low while May Minneapolis wheat fell to a new nine-month...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was down 1/2 cent, May soybeans were up 3 1/2 cents, and May K.C. wheat was down 1 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    One day after grain and oilseed prices took a big tumble, corn and wheat were not able to do much, but May soybeans climbed to a 5 3/4 cent gain, helped by commercial buying and a $3.10 gain in May soybean meal. The June U.S...

  • This USDA chart shows how cotton production is distributed across the southern U.S. Currently, the Texas Panhandle has extreme drought conditions, the lower Mississippi Delta has areas of flooding, and the southern Atlantic coast is on the dry side, but has rain in this week's forecast. (Graphic courtesy of USDA.gov)

    Todd's Take

    Bullish hopes for cotton are growing after prices neared their highest level in three years. A new season is about to begin.

  • DTN Early Word Grains

    May corn was 1/4 cent higher, May soybeans were 2 1/2 cents higher, and July Kansas City (HRW) wheat was 4 cents higher.