GRAINS-Chicago soybeans hold firm on China demand hopes

Jan 22 (Reuters) - Chicago Board of Trade soybean futures edged up for a second session on Thursday after talks between U.S. and Chinese officials raised hopes that top soy importer China would continue buying from the United States.

Wheat and corn futures also ticked up, recouping day-earlier losses with support from an easing dollar and background concern over dry conditions in Argentina and cold weather in the Black Sea region.

The most-active soybeans contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.3% at $10.67-3/4 a bushel, as of 1319 GMT, after reaching its highest in over a week.

CBOT wheat Wv1 added 0.7% to $5.11-1/2 a bushel, and CBOT corn Cv1 was up 0.2% at $4.22-3/4 a bushel.

U.S. Treasury Secretary Bessent said he held "positive" talks with Chinese Vice Premier He Lifeng this week, fuelling optimism that China will buy more U.S. beans after fulfilling a pledge made last year to purchase 12 million metric tons.

"If China continues buying U.S. soybeans, the likelihood of a year-on-year drawdown in U.S. soybean inventories increases," said a Beijing-based analyst.

Grain markets were also underpinned by relief across financial markets after U.S. President Donald Trump stepped back from threats to impose tariffs against European allies and flagged a deal to end a dispute over Greenland. MKTS/GLOB

In cereals, brisk U.S. exports continued to support the corn market.

However, ample global supply remained a curb on overall grain prices.

China is likely to step up purchases of cheaper soybeans from top producer Brazil, as it begins what is expected to be a record-breaking harvest.

Argentine and Black Sea origins, meanwhile, were expected to be used to cover large wheat purchases this week by major importers Algeria and Saudi Arabia. GRA/TEND