SYDNEY, Nov 9 (Reuters) - U.S. soybeans futures edged higher on Monday, as concerns about global supplies due to dry weather in South America and expectations of strong demand from China pushed prices towards a more than four-year high.
* The most active soybean futures on the Chicago Board Of Trade were up 0.3% at $11.05-1/2 a bushel by 0235 GMT, after closing down 0.2% on Friday.
* Soybeans hit a July 2016 high last week of $11.12-3/4 a bushel.
* The most active corn futures were down 0.4% at $4.05 a bushel, after ending 0.6% lower in the previous session.
* The most active wheat futures were up 0.3% at $6.03-1/2 a bushel, after closing down 1.2% on Friday.
* Soybeans rallied as adverse weather in South America threatens global supplies.
* Global demand remains strong led by Chinese buying.
* Market eyes Tuesday’s monthly supply and demand outlook from the U.S. Department of Agriculture (USDA) for adjustments to Chinese exports and global harvest prospects.
* The dollar hit a 10-week low on Monday as investors heralded Joe Biden’s election as U.S. president by buying trade-exposed currencies on expectations that a calmer White House could boost world commerce and that monetary policy will remain easy.
* Oil prices gained more than 2% on Monday, with Brent futures rising above $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetite, offsetting worries about impact on fuel demand from the worsening coronavirus crisis.
* Shares surged, oil prices jumped and the dollar stayed weak on Monday as expectations of fewer regulatory changes and more monetary stimulus under Biden supported risk appetite.
Reporting by Colin Packham; Editing by Rashmi Aich
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