MONSANTO CO /NEW/ - FORM 10-K - EX-12

Exhibit 12

MONSANTO COMPANY
COMPUTATION OF EARNINGS TO FIXED CHARGES⁽¹⁾⁽²⁾
(Dollars in millions)


	Year Ended Aug. 31,
	2009			2008			2007			2006			2005
EARNINGS:
Income (Loss) from Continuing Operations Before Income Taxes, MI and Cumulative Effect of Accounting Change	$	2,967		$	2,926		$	1,328		$	1,018		$	283

Add:
Fixed charges		178			162			174			160			137
Dividends from affiliated companies		—			—			—			—			—
Equity affiliate (income) expense — net		(24	)		(2	)		34			31			31
Amortization of capitalized interest		13			16			15			15			15
Less:
Capitalized interest		(34	)		(22	)		(14	)		(9	)		(6	)

Earnings available for fixed charges	$	3,100		$	3,080		$	1,537		$	1,215		$	460


FIXED CHARGES:
Interest expense⁽³⁾	$	107		$	110		$	136		$	133		$	116
Capitalized interest		34			22			14			9			6
Portion of rents representative of interest factor		37			30			24			18			15

Total Fixed Charges	$	178		$	162		$	174		$	160		$	137


Ratio of Earnings to Fixed Charges		17.42			19.01			8.83			7.59			3.36


⁽¹⁾		Monsanto has not paid any preference security dividends and, therefore, has not included the ratio of combined fixed charges and preference security dividends to earnings for the relevant periods.

⁽²⁾		The operating results of the Dairy business have been conformed to discontinued operations presentation for all relevant fiscal years presented.

⁽³⁾		Includes amortization of deferred debt issuance costs and the interest component of the income tax provision.

MONSANTO CO /NEW/ - FORM 10-K - EX-12 - October 27, 2009