By Alice McFarlane

Agriculture Roundup for Friday June 18, 2021

Jun 18, 2021 | 9:40 AM

MELFORT, Sask. — Ag Growth International (AGI) has announced it has signed a letter-of-intent to acquire a minority stake in an Arizona-based startup company.

MyLand Company extracts live, native microorganisms directly from the grower’s soil and reproduces those organisms in mass quantities on-site using specialized technology systems.

MyLand’s equipment ties directly into the farm’s irrigation system and delivers the microorganisms back into the soil on a continuous basis where they continue to propagate, building the foundation for healthy soil.

AGI will collaborate to install at least five new MyLand systems at grain operations within North America.

Myland CEO Peter Williams said the technology has been successful in rapidly improving soil health.

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CN Rail will spend roughly $95 million in Manitoba this year as of the company’s $3 billion capital investment program.

CN Rail said in a news release it will focus on technology and infrastructure maintenance to enhance safety and the fluidity of its network.

Some of those plans include replacing 29 miles of rail, installing 118,000 new railway ties, and rebuilding 17 road crossing surfaces. Maintenance will be conducted on bridges, culverts, signal systems, and other track infrastructure.

CN Rail also reported the proposed merger with Kansas City Southern will create a transportation network across North America that will be beneficial to all local communities where the railway operates.

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A Saskatchewan farm group is urging the Canadian Senate to pass legislation that affects intergenerational land transfer.

Agricultural Producers Association of Saskatchewan (APAS) President Todd Lewis said Bill C-208 will amend the Income Tax Act and make it easier for producers to sell their farms to a family member instead of selling to a non-family member.

“This bill needs to pass in the Senate because it makes no sense that I can sell my farm to a stranger more easily than I can sell it to my daughter,” Lewis said. “Right now, Saskatchewan is seeing a transition where many farms are being passed down to the next generation, and the passing of this bill will put those young producers on a level playing field as they take over their family farms.”

When a producer sells their farm to a family member, the sale is considered a dividend between the original purchase price and the sale price. If the producer sells their farm to a non-family member, the sale would be seen as capital gain, which is taxed less than a dividend.

APAS estimated 95 per cent of Saskatchewan’s farming operations are family-owned and operated. The number of producers nearing retirement is increasing, and many want to transfer their assets to a family member to maintain it as a family operation.

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alice.mcfarlane@pattisonmedia.com

On Twitter: @farmnewsNOW