This is the 1478th most frequent Russian word.
молодой
Young.
In this sentence, 'молодой' is used as an adjective to describe the noun 'челове́к' (man), denoting that he is young in age.
Молодой челове́к только что окончил университет.
The young man has just graduated from the university.
Here, 'молодой' describes the noun 'сея́нец' (seedling), referring to the fact that the seedling is at an early stage of growth.
Мо́лодой сея́нец нуждается в уходе и поливе.
The young seedling needs care and watering.
In this context, 'молодое' is used to describe the noun 'вино' (wine), meaning that the wine is recently produced or not aged.