Iranian President Mahmoud Ahmadinejad and Venezuela's Hugo Chávez lavished each other with praise on Monday, mocked US disapproval and joked about having an atomic bomb at their disposal.
Authorities from the Argentine Patagonia province of Chubut issued a red alert on the fires that affect forest areas and decided to evacuate El Hoyo town, while 40 Chilean fire-fighters were expected to arrive to the mountain region to help put out the bush fires.
The Argentine Agriculture Ministry has summoned the Committee on Farming Emergency and anticipated it would engage in “surgical work” in order to reach “all areas of the farming sector” suffering from extreme drought.
The home of a Mapuche Indian leader in Chile was destroyed in a suspicious blaze in an area ravaged by forest fires, which officials say may have been caused by radical indigenous activists.
Mercosur soybean production is expected to fall 2.9% after dry weather and heat damaged crops in Brazil and Paraguay and as conditions deteriorate in Argentina, Hamburg-based industry researcher Oil World said.
The US government is ending a three-decade-old policy of subsidizing corn ethanol, but it appears that the loss of the 6 billion dollars annual benefit will have little impact on farmers.
Saudi Arabia's largest dairy company announced it was buying Argentine farm operator Fondomonte for 83 million dollars to secure access to a supply of animal feed. The acquisition will give Riyadh-based Almarai Co. control of roughly 30,000 acres of farmland just ahead of tough new limits to be imposed by Argentina's government on foreign ownership of productive land.
President Dilma Rousseff, about to complete her first year in office, reiterated she remains committed to eliminate extreme poverty in Brazil by the end of her term in 2013.
Brazil has overtaken the UK as the world's sixth largest economy according to the Centre for Economics and Business Research, CEBR. The latest World Economic League Table also showed Asian countries moving up and European countries falling back.
China ratified support for Argentina’s sovereignty claim over the Falkland Islands. The message was delivered last week by Chinese President Hu Jintao's special envoy Jiang Shusheng and vice chairman of the Standing Committee of the National People's Congress and is part of the reciprocal policy in support of Taiwan as a province of China.