Canadian Financial Close: Canola tumbles, crude oil stronger

Glacier FarmMedia | MarketsFarm – The Canadian dollar dropped to its lowest level in nearly a year on Friday.

The loonie was at US$0.7209 or US$1=C$1.3872, compared to US$0.7223 or US$1=C$1.3845 on Thursday. The last time the Canadian dollar closed this low was on Nov. 1, 2023.

The United States Dollar Index was up 0.22 of a point at 104.28.

Crude oil rose on Friday as the trade watched the ongoing conflict in the Middle East as well as the upcoming U.S. election for guidance. West Texas Intermediate (WTI) jumped US$1.45 at US$71.64 per barrel. Brent crude oil advanced US$1.55 at US$75.93/barrel.

The TSX/S&P Composite Index fell 87.88 points at 24,463.67.

Gold increased US$7.20 per ounce at US$2,756.10.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.46

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.38     at $ 61.27

Maple Leaf Foods                 dn  $ 0.09     at $ 21.54

Nutrien Ltd.                     up  $ 0.39     at $ 66.60

RB Global Inc.                   up  $ 0.77     at $118.00

(All figures are in Canadian dollars.)