GRAINS-Soybeans set new 4-year top in spillover from rally on Pfizer vaccine

    * Pfizer update on coronavirus vaccine sends shares, oil soaring
    * Soybeans already supported by strong demand, S. America dryness
    * Chicago corn, wheat turn higher after earlier fall
    * Grain market awaits USDA supply/demand update on Tuesday

 (Recasts with soybean high, wheat/corn turning higher in broad markets rally)
    By Gus Trompiz and Naveen Thukral
    PARIS/SINGAPORE, Nov 9 (Reuters) - Chicago soybean futures extended gains on
Monday to a new four-year high as a broad rally triggered by an update by Pfizer
Inc on its COVID-19 vaccine trials added to further support to a soybean
market already buoyed by strong Chinese demand and weather risks in South
    Corn and wheat turned higher after trading lower earlier in the day.
    U.S. drugmaker Pfizer said on Monday its experimental COVID-19 vaccine was
more than 90% effective, news hailed by investors as hope in tackling a health
crisis that has killed more than a million people and battered the global
    Futures tracking the S&P 500 stocks index hit a record high following the
announcement while crude oil added to earlier gains to trade up by over 8%.

    Moves in grain markets were relatively moderate as traders remained focused
on Tuesday's world supply-and-demand outlook from the U.S. Department of
Agriculture (USDA) for a gauge of resurgent Chinese demand and tightening
supplies, amid weather concerns in several production zones.
    The most-active soybean contract on the Chicago Board Of Trade (CBOT)
was up 1.2% at $11.14-1/2 a bushel by 1258 GMT.
    It earlier rose to $11.18, its highest since July 2016 and surpassing a
previous four-year high of $11.12-3/4 struck last week.
 Prices at 1258 GMT                                               
                              Last  Change   Pct     End   Ytd Pct
                                            Move    2019      Move
  CBOT wheat                606.00    4.00  0.66  558.75      8.46
  CBOT corn                 407.75    1.00  0.25  387.75      5.16
  CBOT soy                 1114.50   13.00  1.18  955.50     16.64
  Paris wheat Dec           210.00    1.25  0.60  188.75     11.26
  Paris maize Jan           189.00    0.50  0.27  179.00      5.59
  Paris rape Feb            400.50    2.50  0.63  391.75      2.23
  WTI crude oil              40.37    3.23  8.70   61.06    -33.88
  Euro/dlr                    1.19    0.00  0.20  1.1210      6.12
 Most active contracts - Wheat, corn and soy US cents/bushel,
 Paris futures in euros per tonne
 (Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by
Barbara Lewis and David Evans)

Nuestros Estándares: Los principios Thomson Reuters.