Well, if by "homeland" you mean an independent Jewish State, probably nowhere unless the UK or the Netherlands try to settle jews in the guyanas or the Falklands. No idea how many Jews would want to settle there, though. All South American countries except Guyana and Suriname were already independent by 1900 and wouldn't cede part of their sovereign territories unless forced by a war.
If you mean, though, countries which would receive them as immigrants, Argentina has a couple thousands jews and many more could have arrived, either here or to any other South American country attracting immigrants, should have been a reasons for Jews to emigrate in mass to South America. Instead of, for instance, to Israel or the USA.