For additional scale in selling, use higher resistance levels or target returns above your cost of production. Remember, however, that this strategy clearly focuses on a rising market and has no protection against a declining market. Buying PUT options is clearly the easiest strategy to protect against price declines while still allowing you to take advantage of higher prices. There is no delivery commitment with PUTs so you're not committing bushels to anyone. With PUTs you've bought price insurance.
PUTs are equally useful for the malt barley producer.
The spread or premium over feed barley realized with malt is determined by market forces for malt and is unhedgeable. I call this my Maybe Malt Contract. It also provides price protection against lower feed values just in case your barley is not accepted for malt. The worst that could happen from the market's perspective is that prices won't change and you lose your premium. But then you're not disappointed when you don't collect on your life insurance at renewal time either.