* 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 America. 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 economy. 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)
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