GRAINS-Soybeans regain ground on dollar slide, U.S.-China trade hopes

(Updates with European trading, changes dateline) PARIS/BEIJING, Jan 21 (Reuters) - Chicago soybean futures rose on Wednesday as a lower dollar and talks between U.S. and Chinese officials boosted export sentiment and shifted attention from a diplomatic dispute over Greenland, analysts said. Wheat and corn also rebounded from day-earlier falls, with mixed weather conditions in major global production zones lending additional support. The most-active soybean contract on the Chicago Board of Trade (CBOT) (Sv1) was up 1.0% at $10.64 a bushel, as of 1339 GMT, after reaching its highest in over a week. Soybeans had fallen on Tuesday as investor worries about U.S. President Donald Trump’s tariff threats against Europe over his plan to take control of Greenland fuelled risk-off sentiment across financial markets. (MTKS/GLOB) There was also specific concern that any retaliatory duties from Europe could dent large flows of U.S. soybeans and corn towards the region. However, a slide in the dollar index (=USD) , amid the market jitters over Greenland, helped boost the export competitiveness of U.S. crops. Comments by U.S. Treasury Secretary Scott Bessent, meanwhile, revived hopes for ongoing demand for U.S. soybeans from China following a bilateral trade truce in late October. Bessent said he had met with Chinese Vice Premier He Lifeng, in what he called “positive” talks, adding that his Chinese counterpart had confirmed the completion of an initial U.S. soybean purchase commitment, which Washington has put at 12 million tons. “Although curbed by the imminent arrival of another record harvest in Brazil, the soybean market welcomed the comments by the U.S. treasury secretary,” Argus Media analysts said. While ample global supply continued to cap grain prices, dry weather affecting corn and soybean crops in part of Argentina and cold weather in wheat production belts in the U.S. Plains and Black Sea region were also underpinning prices. CBOT wheat (Wv1) was up 1.1% at $5.15-3⁄4 a bushel, while corn (Cv1) added 0.9% to $4.27-1⁄2 a bushel. Weekly U.S. export inspection volumes reported on Tuesday, which were above market expectations for corn and near the high end of estimates for wheat and soybeans, also boosted demand sentiment. (USDA/EST) Prices at 1339 GMT Last Change Pct Move CBOT wheat (Wv1) 515.75 5.50 1.08 CBOT corn (Cv1) 427.50 3.75 0.88 CBOT soy (Sv1) 1064.00 11.00 1.04 Paris wheat (BL2c1) 190.75 1.25 0.66 Paris maize (EMAc1) 193.50 1.00 0.52 Paris rapeseed (COMc1) 476.50 2.25 0.47 WTI crude oil (CLc1) 60.74 0.38 0.63 Euro/dollar (EUR=) 1.17 0.00 0.08 Most active contracts - Wheat, corn and soy U.S. cents/bushel, Paris futures in euros per metric ton