GRAINS-Soybeans hit more than 4-year high; S.American rains weigh

SYDNEY, Nov 17 (Reuters) - U.S. soybeans rose more than 1% on Tuesday to an over four-year high, helped by strong demand from top buyer China, although better-than-expected rains in South America limited gains.

Corn and wheat also edged up, extending gains from their previous sessions.


* The most active soybean futures on the Chicago Board Of Trade were up 1.1% at $11.65-1/2 a bushel by 0211 GMT, near the session high of $11.66-1/2 a bushel. Soybeans firmed 0.5% on Monday.

* The most active corn futures were up 0.8% at $4.19-3/4 a bushel, having gained 1.4% in the previous session.

* The most active wheat futures were up 0.8% at$6.02-1/2 a bushel, having closed up 0.8% on Monday.

* The U.S. Department of Agriculture reported more than 2.2 million tonnes of soybeans inspected for export last week, about three-quarters of it bound for China.

* Nearly 815,000 tonnes of yellow corn were also inspected for export, including almost 280,000 tonnes destined for China.

* The National Oilseed Processors Association on Monday reported the U.S. October soy crush at a record-high 185.245 million bushels, topping all trade estimates.

* Better-than-expected rains in Argentina and parts of Brazil capped gains in corn and soybeans following early-season worries that dry conditions would limit crops.


* The dollar nursed losses on Tuesday as a return of coronavirus restrictions in some U.S. states and worries about a smooth transition for President-elect Joe Biden offset optimism about a coronavirus vaccine.

* Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine.

* Asian stocks opened firmer on Tuesday after the S&P 500 and Dow Jones indexes hit record highs on news of another promising coronavirus vaccine, which supported hopes of a quicker economic recovery. (Reporting by Colin Packham; Editing by Ramakrishnan M.)