By Commodity News Service Canada
WINNIPEG, November 24 The Canadian dollar strengthened against its US counterpart on Tuesday as crude oil futures gained ground.
At 8:40 a.m. CST the Canadian dollar was at US$0.7498 or C$1.3337 which compares with Monday’s North American close of US$0.7477, or C$1.3373.
At 8:40 a.m. Chicago Mercantile Exchange crude oil futures had gained US$1.28 to sit at US$43.03 a barrel in the nearby January contract.
In Canadian domestic data, oilseed processors crushed 719,710 tonnes of canola in October. Oil production totalled 310,917 tonnes, while meal production amounted to 408,647 tonnes, Statistics Canada said in a report on Tuesday.
In other Canadian domestic data, millers milled 267,357 tonnes of wheat in September, while wheat flour production totalled 199,726 tonnes, according to StatsCan.
The TSX was stronger in early activity, up 4.32 points at 8:40 a.m. CST to sit at 13,386.70.
