South America’s crop prospects deteriorated because of excessive rainfall in Argentina and dry conditions in central Brazil, according to Oil World. Argentina’s estimated 55/56 million tons soybean crop could drop anywhere from 3 6o 6 million tons because of delays in sowing caused by torrential rains and flooding.
The US stock market slowly returned to life on Wednesday after two days in the dark, in the wake of the massive storm Sandy that caused the market's first weather-related two-day closure since the late 19th century.
Intense heavy showers and winds hit Buenos Aires City and the province of Buenos Aires leaving two dead and several injured at Greater Buenos Aires, while thousands were evacuated due to the floods and power outages in many neighbourhoods.
Chilean Minister of Economy Pablo Longueira announced on Sunday that Punta Arenas in the extreme south of the country which recently suffered a barrage of flash floods will be declared “catastrophe zone”.
Sunday rains and flash floods in Punta Arenas, extreme south of Chile have left an estimated 800 people homeless forcing the city to close schools while the local chapter of the National Emergency office, Onemi, raised the alarm level from orange (moderate) to red (maximum).
Floods in Australia have dragged business conditions particularly in Queensland to depths not seen since the global financial crisis, according to a local analysis that offered a more pessimistic view than the government’s assessments.
Over 25,000 people have been forced to move out of their homes in the Serrana region in the south-eastern Brazilian state of Rio de Janiero, because of the devastating rains and mudslides. which lasted thirteen days and killed over 800 people, authorities said..
The Falkland Islands Government has sent letters to the leaders of Australia and Brazil following the devastating floods the two countries have undergone recently.
The Member States of the Union of South American Nations (UNASUR) wish to express their heartfelt sympathy to the Government and people of Brazil, particularly the relatives and friends of those who lost their lives, their homes and to those injured in the recent flooding and mudslides which occurred in southeastern, Brazil on January 12, 2011.
The torrential rainfall that Brazil has been experiencing for the past week has had an even bigger impact on the population than that of the earthquake Chile experienced in 2010, said a member of the military who had worked in Chile and now runs a makeshift hospital where victims of the worst natural disaster that Brazil has experienced are being treated.