Your production plans. Production is first, because it’s likely on top of mind right now. From where you are right now, look at your “ideal” production scenario and start considering variations. What will you change if planting is delayed due to wet or cold weather? What are your plans for equipment breakdowns? What if an employee becomes unable to work during planting season? Having a back-up plan or even several back-up plans is key.

Your financial plans. This has been an uncertain time for the entire global economy due to the enormous disruption created by COVID-19. Though no one knows exactly how the whole scenario will play out, try to focus on your operation’s individual financial picture so you can be prepared for whatever happens. Where does your operation stand right now? What are the key numbers and metrics you will be watching this growing season? What do you need to be communicating with your lenders?

Your marketing plans. Marketing is a key area to be “test driving” different scenarios for your operation. It’s especially important right now, before the crop is in the ground. Add in the heightened uncertainty and volatility across the global economy right now, and it’s probably more necessary – and helpful – than ever. Marketing plans in 2020 will need to be dynamic and flexible, ready for opportunities. You must know your operation’s financial situation and needs inside and out – and then plan for a variety of market scenarios. To get some help with that this spring, talk with our market advisors.