SD Soybean Hosts DTN Analyst to Answer Producers’ Questions During 2017 DakotafestJul 22, 2017
Current commodity prices have many South Dakota farmers wondering about what the markets hold moving forward. To answer marketing questions, the South Dakota Soybean Association (SDSA) and the South Dakota Soybean Research & Promotion Council (SDSRPC) are hosting DTN Analyst, Todd Hultman, in their Dakotafest tent during the 2017 event August 16 from 10 to 11 a.m.
In addition to Hultman’s presentation, the South Dakota soybean groups encourage farmers to stop in and visit their tent during Dakotafest (First Street, Lot 6 in “Seed Row”).
“Commodity prices are on our minds all the time – when we planted this spring, today, while we scout for weeds and pests, and they will be on our minds this harvest. To produce the healthiest crop with the best yield-per-acre, we as farmers have a lot invested in our soybean fields right now. We want to make sure we can at least break even or, hopefully make a little profit,” explains Matt Bainbridge, a fourth-generation Ethan soybean farmer and SDSRPC Chairman.
Bainbridge is not alone, explains Hultman, who has worked in the commodity futures industry since 1985. “Prices have been depressed for the past few years. And, we have had four consecutive seasons of good growing weather, which has been hard on prices as it has allowed us to build up a surplus year-after-year.”
Hultman’s Dakotafest presentation, What’s Ahead for Soybean and Corn Prices?, will focus on the broad perspective of what is happening in the markets. He will discuss what is impacting the markets and how those factors impact producers’ profits. “Big changes are happening on a big scale that will be impacting our ag markets in the years ahead,” Hultman said.
He will also spend some time specifically focused on soybeans.
“Soybean demand continues to lead all our grain markets,” Hultman said, explaining that the demand for soybeans is fueled by an increased desire for protein as populations in countries like China and India realize economic prosperity.
“China’s growing appetite for soybeans started to pick up steam about 15 years ago and now, it is not just China, but other large populations in the world as well that are starting to have better standards of living, wanting more meat in their diet. That trend is apt to be with us for a long time and should keep demand for soybeans robust for many years ahead,” Hultman said.
More about Todd Hultman
Todd Hultman 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 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.
Free chicken wings & more can be found in the South Dakota Soybean tent during Dakotafest 2017
“Dakotafest is a good opportunity to visit with board members and staff and learn about programs we are involved in,” Bainbridge said. “Whether it is research or international marketing, we serve South Dakota’s soybean farmers. We want to hear from producers and understand what is happening on their farms and in their communities.”
Schedule of Events:
Tuesday, August 15:
Tent open from 9 a.m. – 5 p.m.
11 a.m. Free chicken wings in support of animal agriculture.
Wednesday, August 16:
Tent open from 9 a.m. – 5 p.m.
10 to 11 a.m. What’s Ahead for Soybean and Corn Prices? featuring Todd Hultman, DTN Analyst
9:30 a.m. donuts made with soy oil
Noon – SDSU ice cream
Thursday, August 17:
Tent open from 9 a.m. – 4 p.m.