A delicate summer meal, this risotto combines squash blossoms and sliced yellow baby squash with Arborio rice that has been simmered in chicken stock and white wine.
Combine chicken stock and 2 1/2 cups water in a medium saucepan, place over medium-low heat, and bring to a simmer. Quarter each blossom lengthwise, and cut in half crosswise; set aside.
Heat olive oil in another medium saucepan over medium heat. Add shallots, season with salt and pepper, and cook until translucent, about 2 minutes. Add rice, and cook, stirring, until slightly opaque, about 2 minutes. Add wine, and cook, stirring constantly, until almost all the wine is absorbed, about 30 seconds.
Add about 1/2 cup of the simmering stock to the rice, increase heat to medium high, and cook, stirring constantly, until nearly all the stock is absorbed. Continue adding stock, about 1/2 cup at a time, stirring constantly and letting each addition be nearly absorbed before adding the next.
After about 10 minutes, add sliced squash; continue cooking, adding stock until rice is creamy looking and each grain is tender but slightly firm in the center. This process will take 15 to 20 minutes.
Stir in the blossoms, butter, and Parmesan, and cook, stirring, for 1 minute. Remove from heat, stir in basil, adjust seasoning with salt and pepper, and serve immediately, garnished with basil sprigs.
Squash blossoms should be used as close to picking time as possible.