CBOT corn falls as USDA raises 2017-18 output view.

Futures contracts of corn fell on CBOT after the USDA raised its estimate for US corn output in 2017-18. USDA estimated US maize 2017-18 output 362.1 mln tn, vs 357.27 mln tn projected in June. December corn contract was at $3.9450 a bushel, down 1.1% from the previous close. The agency has also raised its forecast for global maize output to 1.037 bln tn, up from 1.032 bln tn estimated a month ago.