Non-agricultural factors drive agricultural land values, reshaping farming economics.
The value of agricultural land in the US is not just based on how much money it can make from farming. A study looked at different factors that affect the price of farmland, like how nice the land is and what amenities it has. They found that these non-agricultural factors also play a big role in determining the market value of cropland and pastureland. So, it's not just about how much money the land can make from farming, but also about other qualities that make the land valuable.