Brazil cuts winter corn crop forecast

Brazil's government cut its 2016 winter corn crop forecast by 1.1 percent to 42.59 million tonnes on Tuesday from 43.05 million tonnes in July as evidence of drought continues to weigh on the final harvest numbers. In its 11th forecast of the season, crop supply agency Conab said it expected Brazil's total corn output, including the summer harvest, to be 68.48 million tonnes, down from July's 69.14 million and last year's 84.67 million. Exports of corn this year will fall to 20 million tonnes from 30.17 million last year, it said. Conab raised its forecast for area planted for winter corn, the bigger of the two crops, to 10.53 million hectares (26 million acres) from 10.13 million hectares in July.