In this note we analyze the behavior of a competitive firm under price; uncertainty and in the presence of a futures market. We show that the; 'Separation property', i.e., the independence of the firm's production level; of the stochastic price's distribution, holds even if the firm maximize; non—expected utility functional and is not risk averse.; Secondly, we show that its behavior in the futures market is the same as in; the classical environment, even if one asks for a weaker notion of risk; averseness. Finally, we briefly analyze the state—dependent case.