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Canadian Financial Close: Crude oil down, TSX rebounds

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Glacier FarmMedia MarketsFarm – The Canadian dollar made a modest increase on Wednesday.

The loonie closed at US$0.7380 or US$1=C$1.3550, compared to US$0.7377 or US$1=C$1.3556 on Tuesday. The United States Dollar Index declined 0.22 of a point at 104.74.

Crude oil prices dropped on Wednesday after larger-than-expected growth in U.S. stockpiles. However, tensions in the Middle East prevented further losses. Brent crude oil fell US$1.22 at US$81.55 per barrel. West Texas Intermediate (WTI) slid US$1.25 at US$76.62/barrel.

The TSX/S&P Composite Index rebounded on Wednesday after suffering heavy losses on Tuesday, rising 304.43 points at 20,889.40.

Gold lost US$3.90 at US$2,003.30 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up  $ 0.01     at $  2.22

Farmer’s Edge Inc.               dn  $ 0.005    at $  0.345

Linamar Corp.                    up  $ 0.59     at $ 66.09

Maple Leaf Foods                 dn  $ 0.32     at $ 25.68

Nutrien Ltd.                     dn  $ 0.07     at $ 66.16

RB Global Inc.                   up  $ 2.95     at $ 93.05

(All figures are in Canadian dollars.)