Open orders are your friend
Whether for farmer contracting or spread management, open orders watch the market every minute that it's open, and the more things bounce around the more important that is. Be sure to adjust basis on your farmer open orders as necessary.
Hedging discipline is paramount
Sometimes simple disciplines, like getting hedged up quickly and keeping a close eye on the price risk position, can degrade when things get busy. It's more important than ever to maintain strong hedging routines when the market is volatile.
Volatility means both directions
Up days get the most attention but a market that only goes up isn't volatile - the definition includes both up and down. Both will happen, sometimes in the same day.
Emotions are not a good foundation for decisions
Volatility is fertile ground for emotions. Every decision can feel like the wrong one (and then the right one, and then the wrong one again) so everyone gets the chance to experience regret, panic, euphoria, just the whole range of human emotion. These can't be ignored but they can't be allowed to take the driver's seat either. It's helpful to talk to someone who understands what you're doing but isn't as attached emotionally as you are - you can be that for farmers, we can be that for you.
