Agronomical Benefits of increasing SOM
Chemical
Soil organic matter significantly improves the soil’s capacity to store and supply essential nutrients (such as nitrogen, phosphorus, potassium, calcium and magnesium), and to retain toxic elements.
It allows the soil to cope with changes in soil acidity- pH.
Helps soil minerals to decompose faster.
As an addition, in time this can lead to higher crop yields and a reduction in nutrient application (depending on the soil type and its ability to store carbon).
Soils with higher clay content will always be more responsive as their ability to capture carbon is much higher than soils of low clay content, particularly sandy soils.
Physical
Soil organic matter improves soil structure.
This ultimately helps to control soil erosion, improves water infiltration and water holding capacity, giving plant roots and soil organisms better living conditions. An increase of 1% organic matter (about 0.5% increase in carbon) can result in the soil being able to hold over 150 000 extra litres of water per hectare (http://traceandsave.com/carbon-the-key-to-storing-more-water-in-the-soil/).
It helps to make soils more friable and thus easier to work, as an addition this leads to less energy required to grow crops.
Biological
Soil organic matter is a primary source of carbon (C) which gives energy and nutrients to soil organisms.
This supports soil functionality because it improves the activity of microorganisms in the soil and it can enhance biodiversity.
As an addition capturing carbon in the soil also lowers emissions of CO2 to the atmosphere, and this mitigates climate change.