Look at the Netherlands. Tiny country (slightly bigger than MA), basically underwater, and the second largest exporter of agriculture in the world. Denmark is similar although at a far smaller scaled. The reason the US is inefficient is because it has massive scale. Huge country, basically no-one lives there in population density terms (tbf, Australia is the same size and even less dense though...so not an outlier).…
US agriculture is one of the most advanced in the world, its agricultural incentives and economics however ... are not. Subsidy to certain crops over others and do not even want to get into the health impact aspects.
Europe definitely has the same issue with subsidies but the CAP program actually works on the volume planted, so Netherlands gets royally screwed (and the big inefficient producers in France/Spain and, more recently, Eastern Europe...where there is huge corruption in CAP...get the lion's share) because they minimise resources (and don't have many to begin with).
I understand a certain level of subsidy to boost security...but the unintended consequences are huge.