RJO Futures is pleased to present you the 2019 Futures Outlook Guide. Our Futures Outlook Guide is complete with detailed insight and strategy to help make 2019 a year full of successful trade. In the Futures Outlook Guide you can expect comprehensive and detailed research on where the markets have been and where they are expected to go. Here’s to a great 2019!
2019 Grain Outlook
The grain markets look set for some increasing volatility in 2019. Corn fundamentals are improving, while the soybean market’s ending stocks situation could turn more bearish if there are no weather problems. Soybeans will continue to be dictated by Chinese demand and the outcome of trade talks with China. In late 2018 there was a resurgence of soybeans purchased by China which we hope will continue into 2019. Wheat is showing signs of an uptrend as the market experienced a key weekly reversal from a contract low in the first week of 2019 and is expected to trade higher as the year goes on.
- World Corn Outlook- Stock Change vs. Usage Ratio
- U.S. Soybean Export Sales and USDA Forecast
- U.S. Planted Wheat & World Wheat Production
- Weather and the Planting Season
2019 Energies Outlook
The outlook for 2019 energies seems rather bearish. The horrendous year for crude oil and the over production of natural gas appear to have brought both markets down to a value zone. After an atrocious 4th quarter we saw crude plummet, but beginning 2019 this low brings a strong value level. USLD prices were able to find support from U.S. distillate stock levels and we expect crude oil prices to provide lift here early in 2019. Much like crude oil, RBOB gas ended 2019 on a bad note, but the early 2019 rally of U.S. stocks could lift prices in the 1st quarter. Natural gas levels have opened 2019 near the lows they hit in 2018. However, the decrease in trade tension with China could lead to a boost in prices
- World production
- Supply vs. demand
- Fundamental changes
2019 Metals Outlook
Overall, metal ended 2018 rather well. Prices broke out late in 2018 and signs of a key bottom in both gold and silver continue into early 2019. However, the continued rally in the U.S. dollar has plagued the metal markets, but metal has made a significant top in the wake of dovish Fed guidance. The 2018 Divergence between platinum and palladium was rather surprising. Palladium’s price is tracking near gold and might be an attractive buy in 2019, while platinum has seen its bullish vibes dissipate.
- Production and Holdings
- Investment demand