Few businesses can be as uncertain, or as risky, as farming.

Strategies to minimize uncertainty and risk are available. But they must be applied in a way that is keyed to conditions on each individual farm, and even for each crop on a farm. 

It is important not to confuse risk with uncertainty. Working to reduce uncertainty can, in fact, introduce risk. Striking a balance requires producers to understand both their financial and agronomic risks.

One of the key tools available to producers – federally subsidized crop insurance – needs to be at the center of risk strategies because it is an inexpensive way to protect actual farm revenue.