This publication relates activities by guests and participants of the NC-221 Committee during the annual meeting held October 7-8, 2002. The meeting was graciously hosted by CoBank in Greenwood Village, Colorado, a Denver suburb. The selected papers are included along with two papers where only the presentations are available. Table of Contents: Determinants of Farm Credit Risk Migration Rates, by Cesar L. Escalante, Timothy A. Park, Peter J. Barry, and Ebru Demir; Factors Affecting Chapter 12 Bankruptcy Filings in the United States: A Panel Data Model, by Bruce L. Dixon, Nan Ma, Bruce L. Ahrendsen, Latisha A. Settlage, and Jerome M. Stam; A Study of the Risk of Issuing FSA Guarantees on Contract Land Sales to Beginning Farmers, by Charles Dodson; A Comparative Study of the Financial Performance of Grain and Oilseed Farms in Ontario and Illinois, by Calum G. Turvey and Paul Ellinger; Financial Management Practices and Farm Profitability, by Brent Gloy and Eddy LaDue; An Empirical Examination of the Relationship between Options Values and the Rate of Investment in the Food and Life Science Industries, by Luisa Menapace and Calum G. Turvey; Government Program Payment Mechanisms, Crop Revenue Coverage Insurance, and the Return to Farm Land, by Allan W. Gray, Michael Boehlje, Brent A. Gloy, and Stephan P. Slinsky; Evaluation of Risk Reductions Associated with Multi-peril Crop Insurance Products, by Gary D. Schnitkey, Bruce J. Sherrick, and Scott H. Irwin; Bank Risk Ratings and the Pricing of Agricultural Loans, by Nick Walraven and Peter J. Barry; Farm Values and Financial Performance of Diversified Farms, by Ani L. Katchova; The Farm Sector Balance Sheet: A Partitioning of Operator, Landlord, and Contractor Contributions, by James T. Ryan; A Bayesian Examination of Financial Constraints and Farm Investment, by Chad Hart and Sergio H. Lence.