Monsanto Wednesday reported a drop in second-quarter earnings as expected. The St. Louis, Missouri-based company told investors Wednesday net income attributable to the company fell to $1.06 billion in the quarter that ended February 29th, from $1.43 billion, a year earlier. Meanwhile, the company effectively pulled away from the mergers and acquisitions flurry in the industry, according to Reuters. Monsanto CEO Hugh Grant said the company now sees its best deal-making opportunities in smaller acquisitions, licensing deals and partnerships. Monsanto was making an offer to acquire Syngenta roughly this time last year. However, after turning down Monsanto’s offers, Syngenta in February agreed to be acquired by ChemChina for $43 billion. Monsanto also approached Bayer AG last year.