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Quantitative Finance · Glossário

O que é Crop year, old crop, new crop?

Também chamado de: crop year · old crop · new crop

Definition 9.1 Markets III: Commodities, Energy and Crypto · Capítulo 9 — Agriculturals and Softs

The crop year (marketing year) of a crop is the twelve-month period over which one harvest is sold and used; for US corn it runs from 1 September to 31 August. Old crop is grain from the harvest already in store; new crop is grain from the harvest to come. Futures delivering before the new harvest price old crop, those after it new crop.

The US corn year, schematic: planting in spring, pollination in July (the weather-sensitive weeks), harvest from autumn; the marketing year begins on 1 September. The acreage report of late June is the season’s first hard number on the size of the new crop.
Figure 9.1. The US corn year, schematic: planting in spring, pollination in July (the weather-sensitive weeks), harvest from autumn; the marketing year begins on 1 September. The acreage report of late June is the season’s first hard number on the size of the new crop.
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