Agricultural Derivatives: Futures, Options & Swaps


This in-depth examination of agricultural futures and options is presented by Richard Weissman, an agricultural derivatives trader and highly acclaimed author with over 30 years of real-world trading experience. Learn what derivatives are, how they work, how they’re used, and where they are traded. Understand the benefits and limitations of each instrument and how they can be applied to speculative trading and commercial hedging strategies.


What are the pros and cons of hedging with various types of derivatives?  What are the benefits and drawbacks to hedging with options as opposed to linear derivatives? How can swaps help hedgers match their physical consumption and marketing profiles? Why are exchange-traded futures the “gold standard” for commercial hedgers? How are the risks and rewards measured? We’ll cover all of this and more during this dynamic three-day course.


  • The vocabulary of futures and options
  • The what, why, how, and who of agricultural futures and options markets
  • The mathematics of options premiums, historical and implied volatility, and the Greeks
  • The differences and similarities of futures and options
  • Real-time trading and hedging examples for all products in agricultural markets using futures and options
  • Setting up futures, options, and derivatives accounts
  • Types of orders used on the exchange
  • Margins and futures brokers
  • Contract specifications
  • Options pricing models: Black-Scholes and Cox-Ross-Rubenstein
  • The basis between spot and futures markets
  • How option premiums change in various market environments
  • Commonly employed tools and techniques for agricultural risk managers
  • The difference between historical and implied volatility
  • Popular options spread strategies used by speculators and commercial hedgers