Glacier FarmMedia COVID-19 & the Farm

Canadian Financial Close: Tuesday a downer of a day

By Commodity News Service Canada

WINNIPEG, Nov. 19 (CNS Canada) – The Canadian dollar was down at market close Tuesday with the stock market.
The loonie closed at US$0.7542 or US$1=C$1.3259, which compares with Monday’s close of US$0.7686 or C$1.3182.
The S&P/TSX Composite Index closed at 14,877.00, down 194.01 points. Along with the TSX, the S&P 500, DOW and NASDAQ were also down today, losing between 1.3 to 2.2 per cent of their values.
Oil to was down Tuesday as United States West Texas Intermediate crude oil fell by US$3.80 to close Tuesday at US$53.39 per barrel.
Canadian Natural Executive Vice-President Steve Laut said the Canadian oil industry is “dysfunctional” and production needs to be cut to help sagging prices for Western Canadian Select crude. The latter is selling between US$35 to US$40 per barrel less than price for WTI. Laut said this is costing Canada approximately $100 million per day.
As well, gold was down Tuesday by US$3.40 to US$1,221.90 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients———dn $ 0.43 at $ 16.20
Buhler Industries—————-unchanged at $ 3.75
Linamar Corp.——————–up $ 0.36 at $ 48.99
Maple Leaf Foods—————–up $ 0.04 at $ 29.21
Nutrien Ltd.———————dn $ 1.80 at $ 68.89
Ritchie Bros Auctioneers Inc.—-dn $ 0.19 at $ 45.49
Rocky Mountain Dealerships Inc.–unchanged at $ 9.30

(All figures are in Canadian dollars.)

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