US investors, including the Mormon Church, are buying more Australian farmland for good returns.

US investors are increasingly buying Australian farmland due to good returns, despite concerns over foreign ownership. American buyers are now the fifth-largest foreign owners of Australian farmland, with ownership percentages at 13% in 2023. Notably, the Mormon Church spent over $780 million on several large purchases, including famous sheep stations. This trend continues amid the US-China trade war and local concerns about foreign control of agricultural land.