The difference between success and failure in business is how well that business is able to manage risk. This special issue of The Progressive Farmer provides ideas for managing risk in one of the most volatile times ever in agriculture.

Agriculture has always been defined by ups and downs, good times and bad, booms and busts. But few could have forecast the swift shift in economic fortunes that has spread across rural America.

During the first half of 2008 we saw crop prices soar to unheard-of heights, outpacing rising input costs. Purdue University ag economists pointed out that as long as the markets stayed ahead of input expenses, the cost/benefit ratios remained relatively the same.

Still, this year's crop was an expensive one to produce. And costs in 2009 were shaping up to be even steeper as enthusiastic growers bid up cash rents and land prices or pre-ordered pricey fertilizer because of concerns that costs would rise even higher.

But then the worldwide financial crisis hit and a roaring farm economy slowed. Commodity prices quickly followed, plummeting from their record highs. The ensuing economic storm has created a cloud of uncertainty that could make 2009 your riskiest year ever.

Little wonder, then, that you may feel like you're teetering on a high wire with no net below. That's why the editors of The Progressive Farmer and DTN put together this special issue. "Managing Risk in Volatile Times" provides tips and tactics to help you keep your balance as you maneuver through these challenging—and unpredictable—times.

You'll find advice on input costs and crop insurance, analysis of the markets and weather, plus information on cash rents, credit and working capital requirements.

In addition, other farmers will share how they are fine-tuning practices to control costs and crafting strategies to sell grain.

So much change so quickly hasn't occurred in agriculture since the 1970s and '80s. But financial experts stress it's unlikely to create a similar financial crisis.

Still, anxiety is in the air as growers prepare for 2009. "Managing Risk in Volatile Times" will help keep your feet on firm ground.

Gregg Hillyer Executive Editor, The Progressive Farmer