Monsanto (MON) Won't Destroy Sugar Beet Plants

Monsanto (NYSE:MON) has had the decision by a judge to destroy genetically modified sugar beet seedlings planted in 2010 reversed by a federal appeals court in San Francisco.

The appeals court said the environmental and organic seed groups filing the lawsuit failed to prove the Monsanto sugar beats would have a detrimental impact on natural sugar beet plants.

In a decision on November 30, Monsanto had been ordered to destroy sugar beet seedlings on 256 acres because of unproven concerns over contaminating other sugar beets.

Monsanto's sugar beets are modified to resist Roundup herbicide, also made by the company.

American Crystal Sugar Co., Betaseed, Syngenta and SES vanderHave USA have received permits from the Department of Agriculture to plant the modified sugar beet seedlings.

Monsanto closed Friday at $72.21, gaining $1.67, or 2.37 percent.