UPDATE: Monsanto sees second-quarter profit drop of 19 percent

Wednesday, April 7, 2010 | 4:35 p.m. CDT; updated 4:47 p.m. CDT, Wednesday, April 7, 2010

KANSAS CITY — When Monsanto Co. said three years ago it would double its annual profit by 2012, the company was making a bold bet on its future — selling biotech seeds rather than old-line chemicals.