I'm not a huge fan of contracts with possible second obligations for one reason.  I had a different type of contract 3-4 years ago that had a second obligation for fall based off the december futures.  Got close to fall and we were really close to hitting the strike price, so good expectation of having to deliver the bushels, but it was a good price so no problem, right? Except we didn't have a great crop that year, so it was a lot larger percentage of my crop than I would have liked.  As it turned out, the market turned back down and on the contract closing date we did not have/get to deliver the second obligation bushels.  I would have been glad to market some corn at that price, but thought I was already going to have a large percentage sold, so I didn't feel like I could do that, either.  So I ended up sitting there with no corn sold and having to hope that the price came back.  I know I could have handled this differently through options and I've decided that second obligation contracts aren't attractive enough for me considering the risk that goes along with them.

Good luck,

Mike