ST. LOUIS — Seed company Monsanto Co. said Thursday its fiscal third-quarter earnings surged 71 percent on improvements in its sales of corn seed, corn traits and herbicide.

Quarterly net sales jumped 23 percent to $2.84 billion, from $2.31 billion in the prior-year period.

The results surpassed the expectations of analysts. Monsanto also announced that its board approved a three-year, $610 million capital investment for the company’s U.S. corn seed production. The company said the investment plan includes expansions at nine existing corn production facilities and two greenfield sites.

Among the seed corn companies Monsanto owns are two in Nebraska, NC+ Hybrids in Lincoln and Fontanelle in Dodge County.

Grant said Monsanto was still selecting sites for the expansions.

South Korea inspecting beef plants

SEOUL, South Korea — South Korea said Thursday it will inspect beef packing plants this weekend ahead of talks about further easing Seoul’s restrictions on imports of American beef.

An eight-member government delegation will visit cattle ranches, slaughter houses and animal feed facilities to check the sanitary condition of American beef from Saturday through July 8, the Ministry of Agriculture and Forestry said in a statement.

The inspection is part of an eight-stage risk assessment South Korea has conducted in a possible step toward resuming imports of meat attached to bone, which is currently banned.

South Korea was the third-largest foreign market for American beef, after Japan and Mexico, before it banned U.S. beef imports in the mad cow scare. South Korea allowed a partial resumption of beef imports last year.

Digital River stock falls on diminished outlook

MINNEAPOLIS — Digital River Inc., which builds and manages online businesses for software publishers and other customers, on Wednesday lowered its second-quarter and full-year profit and revenue outlook.

In Lincoln, Digital River owns two operations, eSellerate and MindVision.

“Several factors contributed to what historically has been a seasonally soft quarter for the company,” said Chief Executive Joel Ronning. “Some of the incremental business we were expecting from several key clients continued to unfold slower than anticipated.“

Shares of Digital River plunged on the news.

Manufacturers allowed to set minimum prices

WASHINGTON — Manufacturers will have greater leeway to set minimum prices at the retail level without violating antitrust laws under a Supreme Court ruling that could hurt consumers and small merchants.

By allowing minimum price agreements, the court’s 5-4 decision issued Thursday could lead to higher prices, dissenting justices said, as it becomes more difficult for smaller stores and Internet retailers to offer lower-priced goods.

The court said agreements on minimum prices are legal if they promote competition, meaning accusations of antitrust violations will be evaluated case by case.

In a 1991 decision, the Supreme Court had declared that minimum pricing agreements always violate federal antitrust law.

— From news wires