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For the first tune since the 1930s, farmers this month will be able to buy and sell commodity options, giving them a new method to market their harvests.
Options provide farmers with s kind of “insurance policy” on prices. An options contract lets growers fix a minimum price. The contract gives the right, but not the obligation, to sell at that price. That way, farmers can take advantage of any price increase in the cash market.
It is all part of a two-year pilot project set up by the Commodity Futures and Trading Commission. Options were done away with in the early
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