| Exchange | Contract | Code | First Future (New Crop) | Last Future (Old Crop) |
|---|---|---|---|---|
| CBOT | Corn | C | Dec | Sep |
| CBOT | Oats | O | Jul | May |
| CBOT | Rough Rice | RR | Sep | Jul |
| CBOT | Soybean Meal | SM | Oct | Sep |
| CBOT | Soybean Oil | BO | Oct | Sep |
| CBOT | Soybeans | S | Sep | Aug |
| CBOT | Wheat | W | Jul | May |
| KCBOT | KC Wheat | KW | Jul | May |
| MGE | Wheat, HD Red Sp | MW | Sep | Jul |
| CME | Lean Hog | LH | Dec | Oct |
| CME | Pork Belly | PB | Feb | Aug |
| ICE | Cocoa | CC | Dec | Sep |
| ICE | Coffee “C” | KC | Dec | Sep |
| ICE | Cotton | CT | Oct | Jul |
| ICE | FL Orange Juice | JO | Jan | Nov |
Why the Crop Year Matters for Hedging
Corn's crop year runs September to August, which is why December is the new-crop benchmark — it is the first contract month after harvest. Soybeans run September to August as well, with November as the new-crop marker. Old-crop and new-crop contracts can trade at very different prices, and the spread between them is itself a market. When a producer builds a staged hedging program, the crop year is where the conversation starts.