Brazil’s government has not paid out subsidies pledged to corn producers and grain handlers that were due weeks ago. Some 8.71 million tonnes of corn were traded via government support programs in 2017, representing 9 percent of Brazil’s output that season. Conab, which administers the PEP and PEPRO programs, budgeted 499 million reais ($137 million) in subsidies to farmers and trading firms for 2017, providing state compensation for selling and shipping corn when prices were depressed following a bumper crop.