Agricultural Risk Management Strategies

Ailie Elmore serves as an academic instructor in the Department of Agricultural and Consumer Economics (ACE) at the University of Illinois Urbana-Champaign, bringing practical farming experience and academic expertise to her teaching role. With both a Bachelor of Science in Agricultural and Consumer Economics and a Master of Science in Agricultural and Applied Economics from UIUC, she specializes in the intersection of agriculture and finance. Her unique perspective comes from growing up on and continuing to work with her family's grain farming operation in Montgomery County, Illinois. She teaches a comprehensive range of courses including farm management, investment planning, personal finance, small business finance, and sales. Through Coursera, she leads several courses including "Agriculture as an Asset Class," "Issues in Supply Chain Management," and "Strategies and Tools to Mitigate Agricultural Risk," sharing her expertise in agricultural finance and risk management with a global audience. Her passion for commercial agriculture and its financial aspects drives her commitment to educating the next generation of agricultural professionals.

Dr. Bruce Sherrick serves as a Professor in the Department of Agricultural and Consumer Economics and Director of the TIAA Center for Farmland Research at the University of Illinois Urbana-Champaign, where he holds the prestigious Fruin Professorship in Land Economics. His work focuses on improving agricultural financial systems, particularly in crop insurance and farmland valuation. As a key figure in agricultural finance, he contributes to Farmer Mac's loan-funding programs, enhancing farmers' access to capital across the United States. His expertise extends to developing sophisticated information systems that utilize big data and innovative computational strategies to analyze farmland values. As a member of the Farmland Technical Advisory Board, he plays a crucial role in Illinois' use-value farmland assessment system. His research combines agricultural economics with practical applications, helping to create more effective crop insurance programs and developing better understanding of agricultural asset markets. Through his leadership at the TIAA Center for Farmland Research, he continues to advance knowledge in agricultural finance and land economics while providing valuable insights for both academic and industry stakeholders.

Paul B. Stoddard is a Senior Lecturer at the University of Illinois Urbana-Champaign, where he inspires students to explore agricultural economics through innovative thinking. He encourages them to approach familiar concepts from fresh perspectives, fostering a deeper understanding of the complexities within the field. Stoddard aims to distill knowledge into what H. L. Mencken described as “that simple compound of the obvious and the wonderful,” helping students develop a passion for agriculture and the food industry. His commitment to education not only cultivates informed advocates for agriculture but also strengthens the connection between students and the broader goals of the department and college. Through his engaging teaching style, Stoddard plays a vital role in shaping the next generation of leaders in agricultural economics.

Dr. Gary D. Schnitkey is a Professor in the Department of Agricultural Consumer Economics at the University of Illinois Urbana-Champaign, where he holds the Soybean Industry Chair in Agricultural Strategy. His research focuses on analyzing profitability in major field crops using Farm Business Farm Management (FBFM) data, which helps assess the impacts of farm programs and risk management strategies. Dr. Schnitkey's work aims to inform farmers about the most profitable crop rotations and promote long-term improvements in yield. In addition to his numerous journal publications, he regularly shares his research findings on farmdocDAILY, a resource for agricultural insights. He teaches courses such as "Issues in Supply Chain Management," "Risks to Crop Production in Agriculture," "Strategies and Tools to Mitigate Agricultural Risk," and "Supply Chain of Agriculture."

Dr. Nicholas Paulson is the Gardner Hinderliter Professor of Farm Management and Associate Head in the Department of Agricultural and Consumer Economics at the University of Illinois Urbana-Champaign. He specializes in teaching undergraduate courses related to small business finance, business planning, and international agribusiness. His research focuses on finance, risk management, and policy issues pertinent to commercial agriculture. Dr. Paulson earned both his MS and PhD in economics from Iowa State University and has a background rooted in agriculture, having grown up on a family grain farm in southeastern Minnesota. His courses include "Financial Planning for Young Adults," "Risks to Crop Production in Agriculture," and "Strategies and Tools to Mitigate Agricultural Risk."

Dr. Joana Colussi is an instructor and postdoctoral research associate in the Department of Agricultural and Consumer Economics at the University of Illinois Urbana-Champaign. With a background as an agricultural journalist in Brazil for ten years, she transitioned into academia after earning a master's degree in Agribusiness and a Ph.D. in Management from the Federal University of Rio Grande do Sul. Dr. Colussi is also part of the farmdoc team, an Extension group at the university, where she focuses on educational outreach. She teaches courses such as "Issues in Supply Chain Management," "Risks to Crop Production in Agriculture," "Strategies and Tools to Mitigate Agricultural Risk," and "Supply Chain of Agriculture," aiming to equip students with the skills needed to navigate modern agricultural challenges.