Yes. I'm trained in agricultural engineering, so it's of great interest to me.
The farmers need to know for how long their fields will be flooded and how large an area will be flooded. If they have advance notice, they can open drains and even cut grid roads to allow flood waters to pass.
It's the same with droughts. If we can move to accurate seasonal forecasting of droughts, that's enough time for farmers to change their plans for the year. This applies in terms of what they're going to seed, what their cattle herd sizes are going to be and whether they need to store extra water in some dugouts, as well as provincial agencies, to deal with their reservoirs.