UPDATE 3-Monsanto reports larger quarterly loss

* Says sales drop in Roundup herbicide

* Says to raise seed prices 8-10 pct in 2010

* Results slightly beat expectations

* Reaffirms 2010 FY EPS forecast of $3.10 to $3.30.

* Shares up slightly (Adds comments, details, acreage data)

By Carey Gillam

KANSAS CITY, Mo., Oct 7 (Reuters) - Leading chemicals and biotech seed developer Monsanto Co (MON.N) reported a higher fourth-quarter loss on Wednesday, though results slightly beat Wall Street estimates, as a downturn in its herbicide business and restructuring moves ate into revenues.

The company warned last month that results would be hard hit by a slide in its Roundup herbicide business tied to tough competition from China, and a global glut of glyphosate, the key ingredient in Roundup.

Analysts said the Roundup downturn was well known and Wednesday's results held no surprises.

"While the super spike they saw in Roundup was nice while it lasted, it is going to make for some nasty comparisons going forward," said Morningstar analyst Ben Johnson. "The seeds business is really the long-term growth driver as a whole."

Monsanto reported a net loss of $233 million for the fourth quarter, compared with a loss of $172 million in the same period last year. Sales dropped to $1.88 billion from $2.05 billion.

The company reported a loss per share of 43 cents on an as-reported basis, compared to a loss of 31 cents a share a year ago. On an ongoing basis, the company reported earnings per share of 2 cents, compared to a loss of 3 cents a share a year earlier.

The results slightly beat estimates as analysts were looking for quarterly earnings on an ongoing basis of 1 cent a share, according to Thomson Reuters I/B/E/S.

Monsanto shares were up 14 cents at $75.51 in morning trading.

Monsanto has been shifting its focus away from the herbicide business, which has been suffering from growing competition and price pressure, to its highly profitable seeds and traits business.

Roundup gross profit dropped 7 percent for the year while gross profit for corn seeds and traits and soybean seed and traits grew 20 percent.

Company officials said Wednesday that net sales for the year hit a record $11.7 billion because of growth in global corn seed and genetic traits revenue, as well as increased soybean seed and traits revenue in the United States.

The company also said it was seeing revenue growth in its cotton seed and traits business in India and Australia.

Profits from seeds and genetic traits overall made up more than 65 percent of total company gross profit in 2009, up 17 percent rate over fiscal year 2008.

Monsanto will push overall seed pricing up 8-10 percent in 2010, Monsanto chairman Hugh Grant said. He also said the company will introduce at least one new product every year for the next seven years.

"We are entering a period of significant growth in our seeds and traits," Grant said.

The company said its genetic corn traits, which it sells in both its own branded seed and licenses to other seed companies, were planted on 70.6 million U.S. acres in 2009, while worldwide Monsanto's corn traits were planted on 85.7 million acres in 2009.

Soybean traits were planted on 73.2 million U.S. acres in 2009 and 159.5 million acres worldwide, the company said.

Monsanto also said during the quarter it made "extraordinary" cost reduction actions. Restructuring charges totaled $290 million, or 52 cents per share, in the fourth quarter as the company closed inefficient facilities, pared certain seed lines and made other cost-cutting moves.

The company affirmed its full-year ongoing 2010 earnings guidance in the range of $3.10 to $3.30. Monsanto's full-year 2010 EPS guidance on an as-reported basis ranges from $2.85 to $3.11. (Reporting by Carey Gillam, editing by Dave Zimmerman)