By MarketsFarm
WINNIPEG, May 5 (MarketsFarm) – The Canadian dollar was slightly higher on Tuesday, following a boost in crude oil futures.
The dollar finished the day at US$0.7127 or US$1=C$1.4032, compared to Monday when it closed at US$0.7100 or US$1=C$1.4085.
Today, the Canadian government announced an additional C$5 billion in lending from Farm Credit Canada will be available to producers and food processors due that have been impacted by the COVID-19 pandemic.
Benchmark crude oil prices were higher for the fifth day in a row due to reports of lower stockpiles in some storage facilities in the United States. West Texas Intermediate (WTI) was up by US$4.18 to close at US$24.57. Brent Crude was up by US$3.91 at US$31.11.
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The TSX Composite Index was up 66.52 points to close at 14,811.56. The S&P 500 gained 25.7 points to close at 2,868.44. The Dow Jones Industrial Average gained 133.33 points at 23,883.09. The NASDAQ increased 98.41 to finish at 8,809.12.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.80
Linamar Corp. dn $ 0.61 at $ 32.43
Maple Leaf Foods dn $ 0.34 at $ 24.84
Nutrien Ltd. up $ 0.21 at $ 50.19
Ritchie Bros Auctioneers Inc. up $ 0.51 at $ 59.87
Rocky Mountain Dealerships Inc. dn $ 0.06 at $ 4.13
(All figures are in Canadian dollars.)
