Don’t Delay Planning For 2018 Crop Year

By: Darren Frye

Before harvest began this, our ag finance advisors were having meetings with farmer clients to start projections for the 2018 crop year. Those meetings will continue as soon as harvest is complete. These are forward-looking, accrual projections – and they’re somewhat of a ‘rough draft’ that continues to evolve as more information becomes available. For example, depending on the individual operation, next year’s inputs might not be finalized until later this fall or early into 2018.

The thing is, farmers often get held up too long when it comes to doing forward-looking projections. Many farmers are already doing their own cash flow projections for the next year –what they’re planning to spend each month in the next year – but that’s not what I’m talking about here.