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	View Edit Domain: GreenBio Title: * Body: KANSAS CITY - Monsanto Co (MON.N), the world's largest seed company and a purveyor of genetically altered crops, said on Thursday it recorded a $42 million pre-tax charge because of problems with corn grown in South Africa.<br /> <br /> Monsanto made payments to South Afrucab growers after "pollination and yield concerns" arose with three white corn hybrids grown solely in that country, said Monsanto vice president for investor relations Scarlett Foster.<br /> <br /> "These three hybrids appeared to produce less than optimal amounts of pollen," she said.<br /> <br /> The hybrid issue was isolated on less than 4 percent of the roughly 6 million acres of corn planted there, Foster said.<br /> <br /> The compensation to farmers amounted to about 5 cents a share after tax.<br /> <br /> "Working with growers on production challenges is part and parcel of doing business," Foster said.<br /> <br /> Monsanto spokesman Lee Quarles said the problem arose during the 2007 seed production season when a breeding technique went awry.<br /> <br /> "We reviewed the method and are making the necessary changes," he said.<br /> <br /> Monsanto said Thursday its net income fell to $1.09 billion, or $1.97 a share, in the second quarter ended on Feb. 28 from $1.13 billion, or $2.02 a share, a year earlier. <br /> <br /> © Thomson Reuters 2009 All rights reserved<br /> Captcha: Please Enter Code : * Time Zone: * Select the time zone Vocabularies Newsletter: Domain: Show summary in full view Input format Filtered HTML Web page addresses and e-mail addresses turn into links automatically. Lines and paragraphs break automatically. Full HTML Web page addresses and e-mail addresses turn into links automatically. Lines and paragraphs break automatically. news_filter Web page addresses and e-mail addresses turn into links automatically. More information about formatting options			Related Articles South Africa corn surplus trapped by surging rand as rail li... Farmers battle a super-bug Monsanto gets Mexico’s nod for GM maize pilot project Scientists Refute Claim That Genetically Modified Corn Cause... Scientists Refute Claim That Genetically Modified Corn Cause... GM potato gets roasting in South Africa Feds approve Monsanto herbicide-resistant crops Unseen harvest of gene war on billion-dollar pest Banana disease cure renews hope of lifting export ban Mexican Progress on Biotech Crops Top GreenBio Articles

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