Final answer:
About 68% of US farmland is owned by private individuals and firms, with an aging population indicating a substantial portion owned by those over 75. Corporate investors, institutional funds, or younger farmers are likely buyers when this land is sold.
Explanation:
Approximately 68% of US farmland is owned by private individuals and firms, while the federal government owns 30% and state and local governments own 2%. With an aging population, a significant portion of farmland is owned by individuals over the age of 75. When this land is sold, it is likely to be purchased by corporate investors, institutional funds, or younger farmers looking to expand their operations.
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