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$/lb)	6.01	6.56	6.02	5.21	5.60	6.01	6.06	6.10	6.12	6.35	6.58	6.58
Aluminum (cents/lb)	98	102	93	89	86	90	93	93	95	100	99	99
Wheat ($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).