It is early July in 2029, and a grain producer has some corn in storage and is planning to sell it before the next harvest. He was planning to sell now, but he is wondering if the price could still increase between July and September. Basically, he is trying to decide whether to sell now, or keep the grain in storage and wait a while longer to possibly sell at a higher price later.

If he sells now, he will receive the current spot price of $3.70/bu in his local cash market.

If he keeps the grain in storage, storage costs are $0.04/bu/month and he will be looking for higher prices between June and September to sell the grain.

A friend of this producer tells him that he could sell the grain now and buy a call on the futures contract for September delivery. Then, he can get paid right away and doesn't have to worry about storage anymore. And if the corn price increases within the next few months, he can exercise his call and profit from the higher corn price.

His friend suggests to buy the call on the futures contract for September delivery with strike of $4.30/bu, which is now trading at $0.14/bu (premium). As a reference, corn futures prices are currently trading at $4.17/bu for July delivery and $4.25/bu for September delivery. The brokerage fee to trade options is $0.01/bu.

How would you advice this producer? Should he sell the grain now and buy a call, or should he just keep the grain in storage and sell later (without buying a call)? Explain your answer in detail.