Brazil cuts 2017-18 corn crop estimate to 87.3 MMT.

Brazil will harvest 87.28 million mt of corn in the 2017-18 season, federal government crop agency Conab said Thursday in a monthly report, down from 88 million mt in its February report. The 2016-17 harvest was 97.84 million mt. Brazil produces two corn crops per year. The first crop is planted in summer at the same time as the soybean crop, while the second, or winter, crop is planted in the same areas as soybeans immediately after the oilseeds are harvested. For the first corn crop, Conab raised its projection to 25.12 million mt, from 24.75 million mt in February. It was 30.46 million mt in 2016-17. For the second corn crop, currently being planted, Conab cut the projected production to 62.16 MMT, from 63.26 million mt in February due to a smaller than expected planted area and lower yields.