When productivity increases for all farmland at a point in time, the increased productivity leads to a rise in farmland prices, since more output can be produced on a given amount of land.  But prior to the technological improvements, the productivity of farmland depended mainly on the prevailing weather conditions.  There was little opportunity to substitute land with worse weather conditions for land with better weather conditions.  As technology improved over time, it became much easier to substitute one type of land for another.  So the price elasticity of supply for farmland increased over time, since now land with bad weather is a better substitute for land with good weather.  The increased supply of land reduced farmland prices.  As a result, productivity and farmland prices are negatively related over time.
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