SYDNEY, Nov 9 (Reuters) - U.S. soybeans futures edged higher on Monday, as concerns about global supplies due to dry weather in South America and expectations of strong demand from China pushed prices towards a more than four-year high. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade were up 0.3% at $11.05-1/2 a bushel by 0235 GMT, after closing down 0.2% on Friday. * Soybeans hit a July 2016 high last week of $11.12-3/4 a bushel. * The most active corn futures were down 0.4% at $4.05 a bushel, after ending 0.6% lower in the previous session. * The most active wheat futures were up 0.3% at $6.03-1/2 a bushel, after closing down 1.2% on Friday. * Soybeans rallied as adverse weather in South America threatens global supplies. * Global demand remains strong led by Chinese buying. * Market eyes Tuesday’s monthly supply and demand outlook from the U.S. Department of Agriculture (USDA) for adjustments to Chinese exports and global harvest prospects. MARKET NEWS * The dollar hit a 10-week low on Monday as investors heralded Joe Biden’s election as U.S. president by buying trade-exposed currencies on expectations that a calmer White House could boost world commerce and that monetary policy will remain easy. * Oil prices gained more than 2% on Monday, with Brent futures rising above $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetite, offsetting worries about impact on fuel demand from the worsening coronavirus crisis. * Shares surged, oil prices jumped and the dollar stayed weak on Monday as expectations of fewer regulatory changes and more monetary stimulus under Biden supported risk appetite.