摘要:The risks confronted by grain and cotton farmers are of particular interest,given the changing role of the Government after passage of the 1996 FarmAct. With the shift toward less government intervention in the post-1996Farm Act environment, a more sophisticated understanding of risk andrisk management is important to help producers make better decisions inrisky situations and to assist policymakers in assessing the effectiveness ofdifferent types of risk protection tools. In response, this report provides arigorous, yet accessible, description of risk and risk management tools andstrategies at the farm level. It also provides never-before-published dataon farmers' assessments of the risks they face, their use of alternative riskmanagement strategies, and the changes they would make if faced withfinancial difficulty. It also compares price risk across crops and time peri-ods, and provides detailed information on yield variability.