Bring water to a simmer in a medium saucepan.Advertisement
Melt butter in a large skillet over medium heat. Add rice and 1/4 teaspoon salt. Cook, stirring occasionally, until the edges of the rice are transparent, 3 to 4 minutes. Add wine, reduce heat to medium-low and cook, stirring, until it has evaporated, 2 to 3 minutes.
Add a ladleful of the simmering water to the rice and cook, stirring frequently, until most of the water is absorbed, about 3 minutes. Continue to cook, adding water by the ladleful and stirring frequently after each addition, until most of the water is absorbed, 12 to 18 minutes.
Add beet juice to the rice. Adjust the heat to maintain a simmer and cook, stirring frequently, until most of the liquid is absorbed and the rice is creamy and just tender, 6 to 8 minutes. Remove from heat and add Grana Padano, vinegar and the remaining 1/4 teaspoon salt. Serve with more cheese, if desired.
Tips: Carnaroli rice, a short-grained Italian rice, gives risotto its characteristic creamy texture. Find it at Italian markets or well-stocked grocery stores.