Monsanto's (MON) Corn Ban by France Illegal Says EU

Even though Monsanto (NYSE:MON) was cleared by the EU to plant maize in the country in 1998, the French banned the GMO corn in 2008, citing "serious risks for the environment."

Six other EU countries: Austria, Bulgaria, Germany, Greece, Hungary and Luxembourg, also banned the seed from being used.

The European Court of Justice's attorney general concluded the ban by France on the seed was illegal.

This is only an opinion and not a legal ruling, although usually the views of the attorney general are what the court will ultimately decide.

He said that France "could not suspend the planting of Monsanto's MON810 genetically modified corn ... without having asked prior permission from the European Commission."

Monsanto is in the midst of having its 10-year license reviewed to decide on whether or not to have it renewed in the EU. The decision is expected to be reached in 2011.

Monsanto closed Tuesday at $68.95, down $0.03, or 0.04 percent.