Hedging has become a critical tool for companies seeking to weather disruptions in food supply chains during the coronavirus pandemic. Grocers, food manufacturers and restaurant chains have been leaning on the financial mechanism, the WSJ’s Nina Trentmann and Kristin Broughton report, as shipments from suppliers have wavered because of shutdowns at meatprocessing plants and prices have fluctuated wildly. Locking in prices weeks or months ahead carries risks, but for companies like Costco Wholesale Corp. and Jack in the Box Inc. it has helped bring more certainty over costs amid rapid changes in product availability and pricing. The hedging is similar to what many companies do with currencies and oil, but the big leaps in food markets have raised the stakes this spring. Hormel Foods says the key is to strike a balance between contracted prices, market prices and the company’s own projected operating costs.