Bad weather may reduce Argentina's soybean crop below previous forecasts this year but the precise outlook is still unclear, Hamburg-based oilseeds analysts Oil World said this week.
Frustrated Argentine farmers returned on Wednesday to protest pickets in the country's highways following 21 days of conflict and 36 of truce during which no sound agreements were reached with the reluctant and stubborn President Kirchner administration.
The French engineering giant Alstom, famous for its high speed trains and power stations is under investigation by Swiss and French officials for alleged briberies to gain contracts in Asia and South America between 1995 and 2003.
The head of the main ferry system in the River Plate will be joining the Spanish owned Aerolíneas Argentinas as one of the leading shareholders, once the air carrier has been audited according to reports in the Buenos Aires press.
The extended Argentine farmers/government conflict, which was triggered in early March when the new sliding export taxes system was announced, and its renewed eight days of protest, have left an estimated 44 million tons of grains and oil seeds unsold, valued in approximately 12 billion US dollars, according to market analysts interviewed by the Buenos Aires press.
Enap, Chile's government owned oil corporation and Methanex the huge methanol complex in the extreme south of the country signed this week an agreement to speed exploration and production of natural gas in the region.
Chilean authorities declared on Tuesday a maximum alert and ordered the complete evacuation of two towns after the Chaiten volcano, erupting nearby, increased its activity, spewing out lava and ash.
In spite of conflicting versions over the latest round of talks between Argentine farmers and government representatives both sides agreed on a recess until tomorrow Wednesday when they will retake discussions on the sliding export levies which triggered a three weeks conflict in March and promises of more if no agreement is reached.
Argentina's fisheries exports in the first quarter totaled 85.320 tons, equivalent to 177 million US dollars which represents a drop of 15%, volume and money; 15.422 tons and 31.7 million US dollars less, according to the latest official release.
Brazil's Finance Minister Guido Mantega announced in Brasilia that the government is working on creating a sovereign wealth fund of as much as 20 billion US dollars. The fund would help finance overseas investment and acquisitions by Brazilian companies.