Corn futures on CBOT fell as a cut in USDA output forecast for the country is lower than market expectations. Although the US corn inventory forecast for the close of 2017-18 is downgraded by 50m (mln) bushels to 2.27bn (bln) bushels, that is well above the 2.00 bn (bln) bushel figure the market had expected. Corn crop in the US is feared to have been damaged due to hot and dry weather in northern plains last month.