GRAINS-Soybeans up for third session on hopes of US-China trade talks

SINGAPORE, April 23 (Reuters) - Soybeans gained more ground on Wednesday, after U.S. Treasury Secretary Scott Bessent said in a closed-door meeting that he believes there will be a de-escalation in Washington-Beijing trade tensions.

Corn and wheat edged higher.

FUNDAMENTALS

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 gained 0.7% to $10.53-1/4 a bushel, as of 0014 GMT, not far from Monday's two-month high of $10.55 a bushel.

Corn Cv1 rose 0.2% to $4.84 a bushel and wheat Wv1 added 0.1% to $5.50-1/2 a bushel.

Stock markets got a boost after Bessent said on Tuesday that he believes there will be a de-escalation in U.S.-China trade tensions. He also described future negotiations with Beijing as a "slog" that has not started yet.

China is by far the world's biggest soybean importer.

Gains in corn prices were curbed by forecasts for limited rainfall in the U.S. Midwest, which boosted expectations that farmers will be able to continue planting without major disruptions in the coming weeks.

In the European Union, crop monitoring service MARS on Tuesday slightly increased its forecast for this year's soft wheat yield in the region, though it warned that dry conditions in the north of the bloc could hamper crop development.

Commodity funds were net sellers of CBOT corn and soymeal futures contracts on Tuesday, traders said. Funds were net buyers of soybeans and net even on wheat and soyoil contracts, traders said. COMFUND/CBT

MARKET NEWS

U.S. stocks rebounded on Tuesday from the previous day's selloff as investors focused on earnings, while the dollar rose after U.S. Treasury Secretary Scott Bessent said in a closed-door meeting that he believes there will be a de-escalation in U.S.-China trade tensions. MKTS/GLOB

DATA/EVENTS (GMT)

0715 France HCOB Mfg, Svcs, Comp Flash PMIs Apr

0730 Germany HCOB Mfg, Svcs, Comp Flash PMIs Apr

0800 EU HCOB Mfg, Svcs, Comp Flash PMIs Apr

0830 UK Flash Comp, Mfg, Svcs PMIs Apr

0900 EU Total Trade Balance SA Feb

1345 US S&P Global Mfg, Svcs, Comp PMIs Flash Apr

1400 US New Home Sales-Units Mar