* Soybeans touch highest since July 2016 * Robust Chinese demand, COVID-19 vaccine hopes support * Corn, wheat also firm ahead of USDA world grain report (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Nov 10 (Reuters) - Chicago soybean futures edged up to a fresh four-year high on Tuesday, underpinned by strong Chinese demand and wider market enthusiasm over a potential COVID-19 vaccine. Corn and wheat ticked up, steadying after declining a day earlier, as grain markets waited for the U.S. Department of Agriculture's (USDA) monthly world crop report at 1700 GMT that is expected to trim U.S. and world supplies. Soybeans, already buoyed by brisk export demand and doubts over U.S. and South American harvest prospects, drew extra support from a surge in share and oil prices since Monday as financial markets hailed progress in trials of a coronavirus vaccine developed by Pfizer and BioNTech. "Early days, of course, but this breakthrough is truly a reason to become more optimistic," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "Soybean prices clearly gained in the wake of COVID-19 vaccine hopes. Also helping was more evidence of a post-election pickup in U.S. soybean sales to China." The most-active soybean contract on the Chicago Board Of Trade was up 0.6% at $11.16-3/4 a bushel by 1302 GMT. It earlier reached $11.19, its highest since July 2016 and just above Monday's four-year peak of $11.18. The USDA on Monday reported that exporters had sold 123,000 tonnes of U.S. soybeans to unknown destinations, often seen by traders as denoting China. The soy market was also monitoring a strike by grain port workers in major exporter Argentina. CBOT wheat added 0.4% to $6.00 a bushel and corn was up 0.7% at $4.10-1/2 a bushel. The USDA's monthly supply and demand report is being watched to see if it raises projected Chinese corn imports in line with other forecasters. The wheat market was focusing on any USDA revisions to Australian supply, with the southern hemisphere exporter's big expected harvest already weighing on export markets. Prices at 1302 GMT Last Change Pct End Ytd Pct Move 2019 Move CBOT wheat 600.00 2.50 0.42 558.75 7.38 CBOT corn 410.50 3.00 0.74 387.75 5.87 CBOT soy 1116.75 6.25 0.56 955.50 16.88 Paris wheat Dec 210.00 0.75 0.36 188.75 11.26 Paris maize Jan 189.50 0.00 0.00 179.00 5.87 Paris rape Feb 401.00 -0.25 -0.06 391.75 2.36 WTI crude oil 40.68 0.39 0.97 61.06 -33.38 Euro/dlr 1.18 0.00 -0.03 1.1210 5.34 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 Kirsten Donovan)
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