A call is the right but not the obligation to buy the underlying futures at that strike price. A put is the right but not the obligation to sell the underlying futures at that strike price. You can sell your option or exercise it. You can simply pencil it out to determine which scenario will profit more. Remember, when you exercise your option you give up the premium.
Lets use a real example using real prices.
On Sept 18 you bought a Dec Corn 270 call for 7 . Today, the futures price is at 282 and the premium is now at 13 . If you exercise you will be long in futures from 270. If the futures market is at 282 then your open trade equity would be 12 . Don't forget that you give up the 7 you paid in premium making the net profit potential 12 -7 or 5 cents.