**Abstract**

This study aims to evaluate the effects of different tillage practices and cover crop options on crop net returns, downside risk, soil loss, and greenhouse gas (GHG) emissions in a corn-soybean rotation in central Illinois. The conceptual framework developed encompasses tradeoffs between net returns, downside risk, soil loss, and greenhouse gas emissions. The conservation system had the highest net return per acre. Crop net return differences were smaller between the conservation tillage and no-till systems than they were between the conservation tillage system with no cover crop and with a cover crop. The no-till and cover crop systems also exhibited more downside risk than the conservation system. However, utilizing the no-till system and the cover crop systems was an effective mechanism to reduce soil loss and greenhouse gas emissions.

**Keywords:** crop net returns, risk, conservation practices, no-till, cover crops
