Farm Management Finances 5 Financial Steps to Take This Month Review and update your marketing plan this fall. By Successful Farming Staff Successful Farming Staff The content on Agriculture.com is by created by trained journalists who have become subject-matter experts in their fields. You may see some content using the byline "Successful Farming Staff." The content is primarily from information or a press release provided by other entities – such as the USDA, a university, or agricultural company. The press release has been vetted and reviewed by a staff editor. The content is edited and changed to reflect the voice and style of Successful Farming. Successful Farming's Editorial Guidelines Published on September 3, 2019 Close 1. Write a summary of what happened on your farm this growing season. This helps you think through decisions. 2. Update your operating budget. Compare what you planned to spend for seed, fertilizer, crop protections, etc., and what you actually paid. Make per-acre adjustments based on actual acreage. Update yield projections. Reassess your break-even price per bushel. 3. With an adjusted breakeven, review and update your marketing plans. Have you locked in higher prices? Do you need to sell less or more? 4. Update your financial projections. In addition to cash flow and income statement, update balance sheet projections. 5. Use the updated information to have constructive conversations with trusted advisers. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit