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.

Meet the Expert

About Cory

  • Focus on the use of public (futures markets) and private (crop insurance) risk management tools to manage farm revenue risk.  
  • Investigates policy-important areas of federal crop insurance, fertilizer decisions, and environmental quality. 
  • President of a family-owned grain farm Montana producing wheat, canola, barley, and peas.


Assistant Professor • University of Nebraska-Lincoln
Jan, 2014 — Present
  • Department of Agricultural Economics
President • Walters CVO Inc.
2007 — Present
  • President of family farm in Montana. Crops Grown: Hard Red Winter, Wheat, Hard Red Spring Wheat, Canola, Feed Barley, Yellow Peas
Assistant Extension Professor • University of  Kentucky
Sep, 2008 — Jan, 2014
  • Department of Agricultural Economics


Washington State University
PhD, Economics, School of Economic Sciences, 2008


Producer Opportunism and Environmental Impacts of Crop Insurance and Fertilizer Decisions
Washington State University
MA, Agricultural Economics, 2003


Weed Management and Landlord/Tenant Relationships for Eastern Washington Grain Growers
Montana State University
BA, Agricultural Business, 2002


Peer Reviewed Journal Articles 
  • Walters, C.G., C.R. Shumway, H. Chouinard, and P. Wandschneider. 2014. “Information and Opportunistic Behavior in Federal Crop Insurance Programs” Applied Economics Perspectives and Policy; doi: 10.1093/aepp/ppu022
  • Walters, C.G., C.R. Shumway, H. Chouinard, and P. Wandschneider. 2012. “Crop Insurance, Land Allocation, and the Environment” Journal of Agriculture and Resource Economics, 37(2):301-320
  • Walters, C.G., F. L. Young, and D. L. Young. 2012. “Economics of Alternative Control Practices for Jointed Goatgrass in Winter Wheat in the Pacific Northwest” Crop Management, Doi: 10.1094/CM-2012-0227-01-RV

Peer Reviewed Extension Publications
  • Walters, C.G., and J. Barnhart. “Exchange Traded Funds and Agriculture” UK Agricultural Economics Departmental Number 2013-02
  • Walters, C.G., and J. Barnhart. “Financial Impacts from Farmland Value Declines by Various Farm Ownership Levels” UK Agricultural Economics Departmental Number 2013-05
  • Walters, C.G., and J. Barnhart. “Agricultural Land Prices, Supply, Demand and Current Trends” UK Agricultural Economics Departmental Number 2013-06
  • Walters, C.G. “Trend Adjustment Availability for Wheat in Kentucky” UK Agricultural Economics Departmental Number 2013-07
  • Walters, C.G., and G. Halich. “2012 Kentucky Corn and Soybean ACRE Payment Prospects”. UK Agricultural Economics Departmental Number 2012-13
  • Walters, C.G. “Investigating Your Crop Insurance Contract in Front of a Drought”. UK Agricultural Economics Departmental Number 2012-08
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