Last month we met the Yahoo! Publisher Network team at the SEW Forums Live conference (thanks for the reception party guys!). There we had a nice talk about adding some of our Spanish websites, more specifically one that has about 50 million pageviews per month. So we thought YPN would love this, right? Well, yes... they would love to, that is, but they can't. We just got word from them and they said, "... we are not able to serve Spanish contextual ads at this time... I don’t have an ETA on supporting Spanish yet." My guess is that it's probably the same case with other languages, but I can't confirm that.
So there you have it amigos, no contextual ads in Spanish from YPN at this time. Too bad, Google Adsense is paying a lot of money!