What does Crop Year mean?
The time period between one harvests to the next harvest of an agricultural produce. Different commodities have different time periods and so have different crop years. For example, while for wheat, crop year is from July 1 to June 30; crop year for soya beans is from September 1 to August 31.
Futures Knowledge Explains Crop Year
For many crops, a crop year is 12 months or a calendar year but some agricultural produce there may be two crops in a year. Such a commodity has two crop years each calendar year. Similarly crop year of an agriculture produce may vary from one location to another. For example, wheat crop year refers to the 12 months period beginning 1 April for Japan, June 1st for the United States and July 1st for Europe