Brazil 2017-18 corn output seen 93 MMT, down 5% vs 97.7 in LY.

Production of corn in Brazil in 2017-18 is seen down 5% on year at 92.9 mln tn, compared with 97.7 mln tn last year due to likely drop in sowing of the first crop. The bureau has also forecast a decline in the area under the first crop by 336,000 ha on year to 4.9-5.2 MHa as farmers are shifting to other crops for better returns. Fears of pest attacks and recent drought years in Minas Gerais, the top corn-growing state, have further prompted producers to switch to other crops, mainly soybean.