SYDNEY, Nov 30 (Reuters) - U.S. soybean futures rose on Monday to linger near their highest level in more than four years as dry weather in South America pushed the oilseed towards monthly gains of more than 13%.
Prolonged dryness is expected to reduce yields in key crop-growing regions of South America, supporting U.S. soybean futures.
FUNDAMENTALS
* The most active soybean futures on the Chicago Board Of Trade up more than 13% for the month, poised for the biggest monthly gain since October 2014.
Soybeans up 0.4% at $11.97 a bushel by 0133 GMT, hovering near the July 2016 high of $12.00 a bushel touched last week.
* The most active corn futures up 9% during November, set for the fourth straight monthly gain.
* The most active wheat futures up 1.5% during November, on track for the fifth consecutive monthly gain.
* Softer soybean export sales capped gains, as weekly sales fell to a marketing-year low 768,100 tonnes, according to the U.S. Department of Agriculture.
MARKET NEWS
* The dollar fell to a more than two-year low on Monday and is set to log its largest monthly fall since July, as a combination of vaccine optimism and bets on more monetary easing in the United States drives investors out of the world's reserve currency.
* Oil prices fell about 1% on Monday amid investor jitters ahead of an OPEC+ meeting to decide whether the producers' group will extend large output cuts to balance global markets
* World shares were set to seal a record-busting month on Monday as the prospect of a vaccine-driven global economic recovery next year and yet more free money from central banks eclipsed concerns about the pandemic in the near-term.
(Reporting by Colin Packham, Editing by Sherry Jacob-Phillips)
