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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  • December Chicago wheat dipped below its 100-day average several times in 2021, but each time end-user buying showed up as commercial positions to support prices. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Futures traders' favorite wheat had its ups and downs in 2021, but don't let the dips fool you. Chicago wheat prices have firm support that should continue into early 2022.

  • December soybean meal prices fell 22% from their high on May 12 and have been the weaker of the two soy products. But soybean supplies remain tight and support for meal should be near. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Throughout 2021, soybean meal has been the weaker performing of the two soy products. Soybean supplies remain tight and meal prices should be close to finding support.

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Friday, Sept. 10. (USDA logo)

    USDA Reports Preview

    On Friday, Sept. 10, USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.

  • (Getty Images)

    Inside the Market

    Conversations and public discussions need to happen about ways to make things better and create more reliable channels for the U.S. food supply.

  • Crude oil prices have become the proxy for the world's concerns about COVID-19 and show signs of rebounding after succumbing to bearish fears just one week ago. The outside influence has also affected corn and soybean prices. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Investors showed signs of panic last week as news about delta variant infections grew worse. The news hasn't changed much since, but market concerns appear to have eased.

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

    USDA Reports Preview

    On Thursday, Aug. 12, USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.

  • On Tuesday, Aug. 3, November soybeans fell 33 3/4 cents to $13.19 3/4, closing below its 100-day average for only the third time since June 2020. This is a case where the technical break does not match the fundamental context for soybeans. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    From a technical view, Tuesday's 33 3/4-cent drop in November soybeans looked bearish, with prices breaking below the 100-day average at a time when prices normally turn lower toward harvest. Soybeans' fundamental context...

  • (Matthew Putney)

    Inside the Market

    Todd Hultman realizes some may not appreciate the corn and soybean markets they depend on for a living being compared to a poker game, but the similarities are striking.

  • DTN's National Corn Index peaked at $7.48 on May 7 and has been chopping sideways to lower since. Drought is a serious threat in 2021 and there is plenty of uncertainty about how much corn China will buy in 2021-22 (DTN ProphetX chart).

    Todd's Take

    There is plenty of uncertainty about how corn and soybean yields will turn out in 2021 and where prices might go from here. This may be a good time to let the market show the way.

  • One way of looking at Minneapolis wheat prices is to compare them with KC wheat prices. Minneapolis wheat is currently 1.38 times the price of KC wheat, a much higher than normal ratio, but not nearly as high as the 1.54 ratio reached in the lesser drought of 2017. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Spot Minneapolis wheat prices have climbed nearly $3 per bushel in 2021. Past comparisons are not easy, but there appears to be room for more upside.

  • The Chinese government has been encouraging measures to limit the country's reliance on corn as a feed grain source. So far, corn prices within China remain expensive with September corn at the equivalent of $10.29 per bushel. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    After last year's surprisingly large volume of corn imports by China, many are wondering how much China will buy in 2021-22. As far as I can tell, the answer remains a lot.

  • (Illustration by Nick Scalise)

    DTN's Quick Takes

    OMAHA (DTN) -- December corn is up 12 cents per bushel, November soybeans are up 18 cents, September KC wheat is up 18 cents, September Chicago wheat is up 23 1/2 cents and September Minneapolis wheat is up 34 1/2 cents.

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Monday, July 12. (USDA logo)

    USDA Reports Preview

    On Monday, July 12, USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.

  • USDA data shows planted acreage of principal field crops has dropped 9.22 million acres since 2014. A closer look shows states where the largest changes have occurred (Map based on USDA data; DTN graphic by DTN Data Analyst Kathy Myers)

    Todd's Take

    Wednesday's lower-than-expected planting estimates from USDA, at a time when crop prices are trading at multi-year highs, makes the mystery of disappearing acres difficult to explain.

  • USDA will release its Acreage and June 1 Grain Stocks reports at 11 a.m. CDT Wednesday, June 30. (USDA logo)

    USDA Reports Preview

    It is difficult to say which direction USDA's cannon of influence will send grain prices Wednesday, but important Acreage and Grain Stocks reports are loaded and ready to fire at 11 a.m. CDT.