Not sure yet, but today I farmed two different areas with 203% magic find for an hour each. Risen Pirates/Elemental Sludge things in Cursed Shore gave me 5 greens and 3 rares. Then I did Claw of Jormag which gave me about 5 greens and 1 rare (including chest) with a bunch of blues/crafting materials. Then the leftover time after Jormag I used to kill trolls, which netted me 8 greens and a bunch of blues/crafting materials.
Do what you will with those stats.