Benchmarking is a business practice used to reduce costs and enhance margin. Benchmarking determines who is the very best, who sets the standard, and what that standard is. Once we decide what to benchmark, and how to measure it, the object is to figure out how the winner got to be the best and determine what we have to do to get there.

We see the benefit of using benchmarking to demonstrate the effectiveness of price risk management. Price risk management by benchmarking brings opportunities to increase business performance for you -- farm producers.   

What is Benchmarking?
Benchmarking is the process of determining who is the very best, who sets the standard, and what that standard is. In baseball, you could argue that seven consecutive World Series Championships made the New York Yankees the benchmark.

If we were to benchmark "world conquest", what objective measure would we use to compare Julius Caesar to Adolph Hitler; Gengis Khan to Napoleon? Which of them was the epitome, and why?