Breaking News-RTRS-UPDATE 1-Argentina declares agricultural drought emergency

BUENOS AIRES, Jan 26 (Reuters) - Argentina's President Cristina Fernandez on Monday declared an agricultural emergency in areas affected by the worst drought to hit the country in four decades.
The state of emergency will allow farmers in affected areas to defer some tax payments for one year, Fernandez said.
The exchange on Friday cut its estimate for Argentina's 2008/09 soy plantings to 17.9 million hectares (44.2 million acres) from 18.2 million hectares (45.0 million acres) previously, citing the drought.