In planning for the upcoming crop year, it's key to develop different strategies for several scenarios that could play out. Nobody can tell what the future holds, so having a few contingency plans in their back pocket can only serve a farm leader well. When a snafu presents itself, that leader doesn't have to scramble for footing because several likely scenarios have already been planned for.
It's foolhardy to think that all the variables at play in a crop year are going to line up perfectly to fit a single "Plan A" that's been set out for the farm. Water Street CEO Darren Frye has more on crafting contingency plans in this week's Finance First post at FarmFutures.com.