This week: Trading in and around USDA reports
USDA reports can create some extreme market volatility. I usually advise staying with hedges on the report days. Quite often, the bullish news is already built in. Sometimes the reports can be negative, but the bearish expectations are also already baked in to the already low prices.
If you need price protection ahead of a major report, then consider using the short-dated puts to protect your farm against lower prices. You can also use the short-dated calls to protect against higher prices. The short-dated options cost less, and you do not have any margin call risk.