Using soybean oil to control insect pests, delay bloom, and thin fruit in peach [Prunus persica (L.) Batsch] production could reduce yield losses and fruit thinning costs compared to the current practice of using petroleum oil spray to control insect pests alone. The higher annua cost of soybean oil spray compared to petroleum oil spray was more than offset by higher average annual revenue from increased peach yields and lower thinning costs. At one location, soybean oil to delay bloom and thin fruit unambiguously reduced production risk. At another location, both mean and variance of returns were higher, but a lower coefficient of variation suggested lower relative risk for the soybean oil spray alternative. Risk resulting from the unanticipated influence of weather and mismanagement on the effectiveness of soybean oil spray were not considered in this analysis. More research is needed to hone in on the optimum soybean oil spray rates under alternative environmental and management conditions.