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.

Recent Blogs by Author

More From This Author

  • DTN Early Word Grains

    December corn is up 1 3/4 cents, November soybeans are up 3 3/4 cents and December KC wheat is up 6 cents.

  • November soybeans have been on a tear for six weeks, boosted by a rash of export sales, mostly to China. Predicting the high in an emotional market is not realistic, but the 2018 high of $10.60 1/2 offers an interesting reference point to consider. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    I can't predict where soybean prices will peak, but the 2018 high of $10.60 1/2 offers an interesting comparison.

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

    USDA Reports Preview

    What to expect from the USDA's latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports, which will be released at 11 a.m. CDT on Friday, Sept. 11.

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    Active contracts of cattle, feeders and hogs are all starting modestly higher early Friday, finding possible support in cattle prices and benefiting from increased pork exports in the cash of hog prices. Outside markets are...

  • The low of $7.12 in DTN's National Soybean Index occurred on Sept. 18, 2018, less than three months after China slapped a tariff on U.S. soybeans. Since then, prices gradually cycled higher and are now near their highest prices in two years -- a bullish surprise in the year of coronavirus. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    In spite of numerous bearish hurdles, the path of least resistance for cash soybean prices has been gradually higher for nearly two years.

  • (Illustration by Nick Scalise)

    DTN's Quick Takes

    OMAHA (DTN) --December corn is down 1/2 cent per bushel, November soybeans are up 3 cents, December KC wheat is down 2 cents, December Chicago wheat is down 1 1/4 cents and December Minneapolis wheat is down 3 cents.

  • A Saturday drive saw this glimpse of bin damage at Heartland Co-op in Luther, Iowa -- a result of the derecho that swept across central Iowa on Monday, Aug. 10. (Photo by DTN Lead Analyst Todd Hultman)

    Todd's Take

    A Saturday drive through western Iowa got me wondering just how big the corn loss in Iowa might be from last week's severe winds and hail.

  • Managed futures funds have been comfortably net-short in corn for most of 2020 but were challenged this week by a dry forecast that threatens to trim USDA's record yield estimate. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Managed futures funds have been net-short in corn for most of 2020 and have only been briefly challenged once. This week's rally represents a second challenge and may offer producers a chance for a better selling opportunity.

  • USDA will release its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports at 11 a.m. CDT Wednesday, Aug. 12. (Logo courtesy of USDA)

    USDA Reports Preview

    Traders are bracing for what is expected to be a bearish World Agricultural Supply and Demand Estimates (WASDE) report.

  • As of Aug. 6, 2020, five ag commodities with positive returns outperformed the S&P 500 and show bullish potential for the rest of 2020. (DTN ProphetX chart)

    Todd's Take

    COVID-19 caused extensive harm to the economy and damaged the bulk of commodity prices in 2020. In the past three months, however, five ag commodities have posted positive gains and outperformed the S&P 500, an interesting...

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    Contracts of cattle, feeders and hogs are starting slightly lower early Wednesday, cautious in the case of cattle and feeders as traders encounter five-month highs. Outside markets are favorable for livestock early Wednesday...

  • After a sharp drop early in 2020, December soybean oil found support and is one of a handful of ag commodities currently outperforming the S&P 500. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    Soybean crop ratings are high and November prices are struggling to get above $9.00. Amid several bearish concerns for soybeans in 2020, one bright spot is soybean oil.

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    Contracts of cattle, feeders and lean hogs were all a little lower early Friday after cattle and feeders neared their highs for July. Hog futures continue to struggle at depressed levels, finding little help in a tough market...

  • This chart of September Chicago wheat shows prices chopping sideways for roughly five years, staying below $6.00 a bushel. USDA's low ending stocks estimate of 103 million bushels gives Chicago wheat a chance to challenge the high end of the range in 2020-21. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    With the coronavirus, 2020 has already been unusually bearish for corn prices and funds have been net short all year. A year like this could bring an earlier-than-usual harvest low.

  • (DTN photo by Nick Scalise)

    DTN Before The Bell Livestock

    August contracts of live cattle and lean hogs were starting lower, taking a break after Thursday's higher closes with plenty of bearish concerns still looming over markets. Outside markets are offering some early support. Dow...

  • This chart of September Chicago wheat shows prices chopping sideways for roughly five years, staying below $6.00 a bushel. USDA's low ending stocks estimate of 103 million bushels gives Chicago wheat a chance to challenge the high end of the range in 2020-21. (DTN ProphetX chart by Todd Hultman)

    Todd's Take

    There aren't many crops that can boast a bullish supply situation in 2020, but soft red winter wheat will for a second consecutive year.

  • According to USDA estimates, gross revenue for producing corn in 2000-01 was 33% below the cost of production and stands as the least profitable year in recent history. The outlook for 2020-21 is bearish for corn, but probably not that bearish. (Chart by Todd Hultman, based on USDA estimates)

    Todd's Take

    Because of how ag prices were depressed and financial prices were elevated in 2019, I found last year's economic mood highly similar to the year 2000. Unfortunately, the comparison continues into 2020.

  • USDA will release its Acreage and June 1 Grain Stocks reports at 11 a.m. CDT Tuesday, June 30. (Logo courtesy of USDA)

    USDA Reports Preview

    On June 30, 2020, USDA will release Acreage and June 1 Grain Stocks reports at 11 a.m. CDT. Given this year's excellent planting conditions and coronavirus-related shutdown in the second quarter, the estimates are likely to add to...