Crop (Marketing) Year

As a finance professor, I want to introduce you to a fundamental concept in agricultural commodities: the crop marketing year. This is the time span from harvest to harvest for various ag commodities. Although it may differ slightly for each commodity, it typically starts at harvest and ends before the next year's harvest. For example, the soybean marketing year begins on September 1 and ends on August 31. In terms of futures contracts, the month of November marks the first major new-crop marketing month, while the month of July represents the last major old-crop marketing month for soybeans. Understanding the crop marketing year is crucial for anyone interested in the world of finance and agriculture.