What Kind of Operations Do You Expect to See in the US?

Most of our return comes from appreciation either because of the market land prices are going up or because we're doing that land improvement work and creating value through that. Canada has seen very little of that partially because the dollar does hedge down in the commodity prices movement so it is a more predictable potentially area of land appreciation. From the farming operations themselves we aim for a higher return in total than most funds so we have a generally slightly higher hurdle rate and aim for a high return but we actually don't guarantee cash distributions as you'll see.

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