Commodity Price Outlook | ||||||||||||
2018 | 2019 | 2020 | ||||||||||
Q1 | Q2 | Q3 | Q4 | Q1F | Q2F | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | |
Crude Oil (WTI, $US/bbl) | 63 | 68 | 70 | 59 | 54 | 58 | 60 | 62 | 64 | 65 | 65 | 66 |
Natural Gas ($US/MMBtu) | 3.08 | 2.86 | 2.93 | 3.80 | 2.90 | 2.80 | 2.70 | 2.60 | 2.50 | 2.51 | 2.53 | 2.54 |
Gold ($US/troy oz.) | 1329 | 1306 | 1213 | 1229 | 1305 | 1325 | 1350 | 1375 | 1375 | 1375 | 1425 | 1425 |
Silver (US$/troy oz.) | 16.74 | 16.56 | 15.02 | 14.58 | 16.00 | 17.00 | 17.25 | 17.50 | 18.00 | 18.00 | 18.75 | 18.75 |
Copper (cents/lb) | 316 | 312 | 277 | 280 | 280 | 284 | 293 | 293 | 302 | 302 | 311 | 311 |
Nickel (US$/lb) | 6.01 | 6.56 | 6.02 | 5.21 | 5.96 | 6.01 | 6.06 | 6.10 | 6.12 | 6.35 | 6.58 | 6.58 |
Aluminum (cents/lb) | 98 | 102 | 93 | 89 | 86 | 90 | 93 | 93 | 95 | 100 | 99 | 99 |
Wheat ($US/bu) | 7.42 | 7.46 | 6.70 | 6.85 | 7.00 | 7.05 | 7.10 | 7.10 | 7.14 | 7.17 | 7.21 | 7.24 |
F: Forecast by TD Bank Group as
at March 2019. All forecasts are period averages. Source: Bloomberg, TD Economics, USDA (Haver). |