Exhibit 12

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

	Year Ended Aug. 31,			Year Ended Aug. 31,						Eight Months Ended Aug. 31,			Year Ended Dec. 31,
	2006			2005			2004			2003			2002			2001			2000
EARNINGS:
Income (Loss) from Continuing Operations Before Income Taxes, MI and Cumulative Effect of Accounting Change	$	1,055		$	279		$	403		$	(19	)	$	235		$	488		$	359
Add:
Equity affiliate expense — net		31			31			36			26			43			41			34
Fixed charges		161			136			112			71			105			147			272
Distributed income of equity affiliates		—			—			—			—			1			1			1
Amortization of capitalized interest		15			15			10			8			10			11
Less:
Capitalized interest		(9	)		(6	)		(7	)		(4	)		(8	)		(30	)		(37	)
Earnings available for fixed charges	$	1,253		$	455		$	554		$	82		$	386		$	658		$	629
FIXED CHARGES:
Interest expense(2)	$	134		$	115		$	91		$	57		$	81		$	99		$	214
Capitalized interest		9			6			7			4			8			30			37
Portion of rents representative of interest factor		18			15			14			10			16			18			21
Total Fixed Charges	$	161		$	136		$	112		$	71		$	105		$	147		$	272
Ratio of Earnings to Fixed Charges		7.78			3.35			4.95			1.15			3.68			4.48			2.31

⁽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⁾ Includes amortization of deferred debt issuance costs.