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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More From This Author

  • (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.

  • Illustration by Nick Scalise

    DTN's Quick Takes

    OMAHA (DTN) -- December corn is down 3 1/4 cents, November soybeans are down 2 cents, and July K.C. wheat is down 3 cents. The weekend was especially hot and windy from western Texas to Iowa and part of Illinois.

  • (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.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Soybeans, meal, and oil all closed sharply lower in the wake of scandal-related selling that saw Brazil's real trade down over 8% at one point on Thursday. Corn and wheat prices were also lower in spite of the anticipation of more...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was down 6 1/4 cents, July soybeans were down 20 3/4 cents, and July Chicago wheat was down 2 1/2 cents.

  • On May 10, USDA estimated corn will have its first world production deficit in seven years, a possible change in the bearish dynamic, if the estimate holds true. (DTN ProphetX chart)

    Todd's Take

    USDA estimates corn will have its first world production deficit in seven years, but will that hold true?

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and wheat prices finished lower Monday after a weekend of warmer weather allowed for more corn planting progress and spurred hopes for a recovery among winter wheat crops. Soybeans were steady to higher in spite of...

  • (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 Chicago wheat was down 4 1/2 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July corn ended up 1 3/4 cents and July soybeans were down 3 1/4 cents after a quiet trading session Friday while more planting work was being done on fields across the Midwest. July soybean oil and July canola posted the largest...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybean futures finished lower with warmer and drier weather expected in the five-day forecast after Thursday's showers move out. Wheat contracts ended a little higher, finding support from commercial buying in spite of a...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July corn finished up 7 1/4 cents Wednesday after USDA predicted lower-than-expected world ending corn stocks for 2017-18. Soybeans saw a lower-than-expected estimate of U.S. new-crop ending stocks but ended down 3 3/4 cents...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans closed up 9 1/4 cents Tuesday, erasing Monday's loss with help from commercial buying in soybean meal while corn stayed quiet in front of USDA's next WASDE report on Wednesday. July Chicago wheat lost another 4...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • The weekly chart of Minneapolis wheat above shows commercials providing support to prices at previous lows (red arrows) and did so again in early-April. Source: DTN ProphetX. (DTN chart)

    Todd's Take

    While all eyes were on last week's hard red winter wheat tour, spring wheat was showing bullish changes of its own.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn, soybeans, and wheat all closed lower Monday after a weekend of warmer weather allowed more row crop planting and helped winter wheat recover. Grains were also pressured by an unexpected jump in the U.S. dollar index after...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    While old-crop soybeans and soybean meal were a little lower Friday, most grain-related contracts finished higher Friday and for the week in the aftermath of last weekend's adverse weather. Soybean oil also closed higher after the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat closed down 18 3/4 cents and July corn was down 8 1/4 cents, pressured by expectations for warmer and drier weather in the week ahead. July soybeans finished a penny lower on a day when most commodities and the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans closed modestly higher Wednesday in quiet trading while more rain moved across the southern Midwest. Winter wheat prices ended steady to lower while tour participants examined snow-covered wheat crops for...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans gave back part of Monday's gains with somewhat drier weather and warmer temperatures offering hope for better crop conditions in the extended forecast. Winter wheat prices were mixed with the July K.C...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • Friday's CFTC data showed noncommercial traders net short 130,036 contracts of Chicago wheat, the largest bearish bet on record. Previous big bets by noncommercials have not gone well (Source: DTN ProphetX).

    Todd's Take

    In front of last weekend's storms, noncommercial traders placed the largest bearish wheat bet in history.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat closed up 28 1/2 cents Friday, just 1 1/2 cents shy of its daily price limit after adverse weather hit winter wheat crops over the weekend. Corn and soybeans were also higher with excess rain threatening spring...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 6 1/4 cents, July soybeans were up 9 3/4 cents, and July Chicago wheat was up 12 1/4 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    While there are plenty of weather concerns for all three crops heading into the weekend, trading was generally quiet and results were mixed on Friday. Corn and soybeans ended modestly lower while all three wheats finished a little...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July K.C. wheat closed up 8 1/2 cents Thursday, bouncing back from last week's new contract low with help from emerging weather threats to winter wheat. Corn and soybeans were steady to higher in a quiet day of trading, which...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July corn gave back a nickel Wednesday and July soybeans slid 8 1/2 cents lower, still mindful of bearish pressure from South American crops while the U.S. encounters a variety of planting hurdles. July Chicago wheat was slightly...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    One day after soybeans closed higher while corn and wheat stayed mixed, the latter two took a turn higher on Tuesday with emerging concerns about cold and wet weather in the forecast. Soybeans gave back part of Monday's gain...

  • DTN Early Word Grains

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybean meal was the winner Monday among grain-related contracts and encouraged soybeans higher -- a sign of improved demand. July corn was a little higher while Chicago wheat was a little lower, both looking at forecasts...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    July corn was up 2 cents, July soybeans were up 7 cents, and July Chicago wheat was up 3 cents.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    July soybeans finished up 4 cents Friday, ending the week with just a nickel loss while the week's losses for corn and wheat were much greater. Corn and wheat were both slightly lower Friday in quiet trading while more rain worked...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May Chicago and K.C. wheat contracts fell to their lowest closes in 2017, pressured by improving crop conditions and an easing of this year's drought threat. Corn and soybeans also finished lower Thursday with the anticipation of...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn finished unchanged Wednesday, stuck in the mud with the rest of the planting equipment this year as Mother Nature continues to deliver a cool, wet spring across the Midwest. May soybeans were modestly higher with help...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn and May soybeans closed lower Tuesday with Brazil's second corn crop doing well and traders keenly aware of increased competition from South America this year. Winter wheat prices showed a small bounce, but May...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • Last week, November soybeans produced their 37th bullish outside weekly reversal since 2000. The previous 36 suggest this technical signal deserves respect (Source: DTN's ProphetX).

    Todd's Take

    Last week's outside weekly reversal in soybeans offers a hint of support.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May Chicago and K.C. wheat contracts led grains lower Monday with more rain expected to help crop conditions this week. May corn was also lower with Brazil's second crop also expecting rain this week and keeping conditions favorable.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn and soybeans closed moderately higher Thursday, the final day of this week's trading, with help from concerns about wet planting conditions in the U.S. and flooding in Argentina. Winter wheat, on the other hand, saw rain in...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Wednesday's trading session was quiet, but soybean and soybean meal prices benefited from early commercial buying, just one day after USDA increased its crop estimates for South America. May corn closed a couple cents higher...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and soybeans ended a little lower Tuesday, but largely ignored USDA's bearish estimates in Tuesday's WASDE report. May Chicago wheat rebounded higher with help from noncommercial short-covering even though USDA's estimate of...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Corn and wheat prices rebounded higher Monday, still finding support from USDA's planting estimates as traders get ready for USDA's WASDE report on Tuesday. May soybeans ended slightly lower with meal a little higher and May bean...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was up 2 1/4 cents, May soybeans were up 5 cents, and May Chicago wheat was up 3/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Friday's grain markets stayed relatively quiet and close to Thursday's closing prices in the aftermath of Thursday evening's news that the U.S. launched missiles into Syria. The U.S. dollar index is on track for its highest close in...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

    May corn was down 1/4 cent, May soybeans were down 3/4 cent, and May Chicago wheat was down 1/4 cent.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    The bearish slide in grain prices continued Thursday in spite of another week of bullish export news for corn and soybeans from USDA. Winter wheat prices remain under bearish pressure after last week's rain across the Southern...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Short-term daily charts have turned bullish for all three grains now, with soybeans joining the party Wednesday despite the daily auction of increased production estimates for Brazil. Outside markets were mixed, but losing some of...

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn fell back nearly a nickel Tuesday, erasing Monday's gain as the excitement of Friday's USDA reports faded. May soybeans lost ground for the ninth time in the past 10 days as Brazil's new supplies continue to weigh on prices.

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • While 2017's USDA soybean estimates are remarkably similar to those issued a year ago, market clues showed important differences and May soybean prices went different directions in the month of March. (DTN chart)

    Todd's Take

    USDA's soybean estimates are similar to a year ago, but market clues are telling a much different story.

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn traded higher all day, finishing up 3 1/2 cents with extended help from Friday's lower-than-expected planting estimate from USDA. May soybeans fell to their lowest close in nearly a year as crop estimates continue to grow...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    November soybeans fell 9 1/4 cents Friday and old-crop beans dropped 17 cents after USDA estimated record soybean plantings in 2017. Corn and wheat prices on the other hand, posted decent gains thanks largely to USDA's lower...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May K.C. wheat ended down 6 1/4 cents at a new low for 2017 after this week's rain helped conditions across the Southern U.S. Plains. Soybeans were also lower with traders likely nervous about Friday's planting estimates from USDA...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    Wednesday witnessed another day of quiet trading in grains with May corn and Chicago wheat earning small gains while May soybeans slipped 3 cents lower. The big winner was May Minneapolis wheat with a gain of 8 1/4 cents and help...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May corn and soybeans eked out small gains at the end of a quiet day of trading with little happening ahead of Friday's USDA reports. May Chicago wheat was up 3 3/4 cents, showing decent support even as rain was falling in the...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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

  • (DTN illustration by Nick Scalise)

    DTN Closing Grain Comments

    May K.C. wheat fell 6 3/4 cents to its lowest close in 2017, pressured by rain in this week's forecast across the Southern U.S. Plains. Corn prices were mixed and soybeans modestly lower while the U.S. dollar index slid to its lowest...

  • (DTN photo by Greg Horstmeier)

    DTN Before The Bell Grain Comments

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