The Saskatchewan Soil Conservation Association is administering the Environment Canada pilot project.
Executive Manager Blair McClinton says producers were allowed to sign up a maximum of 247 acres.
To be paid growers had to partake in practices such as zero till, direct seeding marginal soils to forages, or planting shelterbelts.
Farmers received $11.08 per tonne of c-o-2 stored.
The amount of carbon stored per year is dependent on the type of soil.
Farmers in the brown soil zone received a payment of $2.38 per acre, while those in the black soil zone received $5.43 per acre.
McClinton notes during the life of the project the equivalent 53,000 tonnes of carbon dioxide will be stored in ground as temporary emission removals.