Futures options are another way for a producer to hedge their corn. This can occur when the producer buys futures for their product. They purchase the futures as well as options to put at the same type. Therefore if the futures fall in price the option to put will rise in conjunction thus evening out his lose. Well, here's the next step.
Futures options are the sales unit based on the item being optioned.
Options simple are different choices that one can make. For example 100 shares of stock or 4000 bushels of corn. In the Wall Street Journal there are options tables where a strike price, a current offer and finally the expiration of the option. You are buying options at a price that will hopefully move up by the expiration of the option. Puts and Calls are the most significant part of options trading.