GRAINS-Chicago soybeans chop up and down as traders assess China demand

By Renee Hickman

CHICAGO Jan 22 (Reuters) - Chicago Board of Trade soybean futures ticked down slightly in a day of choppy trade after talks between U.S. and Chinese officials raised hopes that top soy importer China would continue buying from the U.S.

Wheat climbed and corn futures were up slightly, recouping the previous session's losses with support from an easing dollar and background concerns over weather conditions in growing regions of the U.S. and Argentina.

"This market's just kind of treading water," said Don Roose, president of U.S. Commodities.

The most-active soybeans contract on the Chicago Board of Trade (CBOT) Sv1 was up 3-1/4 at $10.61-1/4 a bushel, as of 12:00 CST (1800 GMT), after reaching its highest in over a week.

CBOT wheat Wv1 added 7 cents to $5.14-3/4 a bushel, and CBOT corn Cv1 was up 1-1/4 cents at $4.23 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.

The U.S. Department of Agriculture confirmed private sales of 192,350 metric tons of U.S. soybeans to undisclosed destinations for delivery in the current 2025/26 marketing year that began on September 1, 2025.

China is likely to step up purchases of cheaper soybeans from top producer Brazil, which has begun a harvest that ios expected to break records.

Northern Brazil is harvesting despite some delays, said Roose, but dry spots are affecting the crop in southern Brazil.

A winter storm is forecast to bring beneficial moisture to wheat crops in the southern U.S. Plains starting Friday, but frigid temperatures after that could threaten winter wheat in areas lacking protective snow cover, according to forecasters.

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