Stories for July 1st 2011

Friday, July 1st 2011 - 15:46 UTC
Expected bumper crop in US makes corn prices suffer its biggest fall in 15 years

The price of corn suffered its biggest fall for 15 years on Thursday, prompting speculation that the high cost of food may start to ease. Corn prices dropped 10% after a US Department of Agriculture report that farmers are sowing unexpectedly large amounts of the grain.
Friday, July 1st 2011 - 15:31 UTC
EU and Mercosur resume ‘formal’ trade negotiations next week

European Union and Mercosur delegates are scheduled to meet next week in Brussels for another round of negotiations with the purpose of reaching a trade agreement.
Friday, July 1st 2011 - 13:04 UTC
Renault plans to increase car production in Argentina by 60%

French auto maker Renault has plans to invest 400 million Pesos (100 million US dollars) to produce a new model geared towards the Mercosur market, Argentina's industry minister Debora Giorgi announced this week.
Friday, July 1st 2011 - 13:00 UTC
Fishermen recover giant dead squid off Florida coast

A trio of fishermen in the US state of Florida said they made an unusual find about 12 miles off the coast of Jensen Beach -- a dead giant squid measuring 23- to 25 feet.
Friday, July 1st 2011 - 12:51 UTC
Argentina is promoting the idea of an OPEC-like for lithium

Argentina is promoting the idea of an OPEC-like cartel for itself, Bolivia and Chile, which together control 85% of the world's reserves of lithium, a key component in electric car batteries.
Friday, July 1st 2011 - 07:12 UTC
Falkland Islands: Rockhopper Exploration plc PR

Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to announce results for the twelve months ended 31 March 2011.
Friday, July 1st 2011 - 07:04 UTC
Setback for Argentina in New York court defaulted sovereign bonds case

Argentina suffered a setback over its US$100 billion debt default in 2002 when New York's highest court said the country should keep paying interest on some bonds even after they mature or investors demand their principal back early.
Friday, July 1st 2011 - 06:59 UTC
Qatargas will provide Argentina with LNG on a 20 year supply agreement

Qatar’s leading corporation Qatargas has signed an agreement with Argentina’s government owned oil and gas company, ENARSA for the long-term supply of liquefied natural gas (LNG).
Friday, July 1st 2011 - 06:52 UTC
British Gas doubles oil estimates off the coast of Brazil to 8 million boe

Reserve estimates in the Santos Basin off the coast of Brazil have an upside potential of 8 billion barrels of oil equivalent, an energy company in London said.
Friday, July 1st 2011 - 06:46 UTC
Desforestation in Brazil doubles, in anticipation of an amnesty for illegal logging

Deforestation rates in the Brazilian Amazon, the world’s biggest rain forest, more than doubled last month as farmers become more confident they’ll be granted amnesty for illegal logging.