Update their 2017 cash flow plan. A recent Farm Futures survey indicates that 45 percent of farmers worry about their ability to pay back debt.  Instead of worrying about the unknown, a quick yield and price assessment to estimate income along with examination of remaining outflows for the year can prevent problems before they occur. Include in the outflows- operating loan, equipment & land loans, cash rent, and an estimate of remaining expenses. Keep in mind there might be farm bill payments from the 2016 crop year coming in.   If you estimate a shortfall, start exploring now ways to address it particularly with your lender. It is always better to keep them in the loop rather than surprise them after harvest.

Update their marketing plan. The same Farm Futures survey indicates that 22 percent of corn production is priced and 29 percent of soybeans are priced, which is less than normal. Only 26 percent of the farmers surveyed think that they priced enough 2017 production to make a profit. Continue to be proactive in your marketing.  Will you be able to fill your contracts? Talk to your local elevator for alternatives. Evaluate whether additional contracting should be done before harvest. Hopefully, any storage that will be needed has been evaluated and or secured for this crop. Have you considered any post-harvest strategies? Have you explored selling to potential end users such as ethanol plants or livestock producers? This could be a year when storage might be a viable alternative, particularly corn.

Start tax planning. If you wait until December, it is too late. Did you carry over any income from 2016? Talk to your accountant and share your cash flow assessment.  Any major tax planning should always be for economic reasons as well as saving taxes.

Evaluate harvesting power. Do you have the combine or picker power to efficiently harvest your crop on a timely basis? Do you need an additional harvester either through purchase, lease, or by having some acres custom harvested. Put a pencil to it! If you need assistance in this evaluation, contact your County Extension office or Area Farm management Specialist.