Dojima Rice Exchange: The world's first rice futures exchange, established in Japan during the Edo period (17th century). This exchange also served as a market where futures contracts for rice, a type of commodity, were traded.
A fun fact: candlestick patterns were also developed on this exchange in the 18th century by the Japanese technical analyst Honma Munehisa. Yes, those candlestick patterns we call doji, hammer, shooting star were also used back then. It's really amazing.
Anyway, back to the topic, the price of rice varied just like commodities or stocks do now. But the question I have is, how did the price of rice change? Just the supply and demand relationship? For example, when a rice field is flooded, does this create a change in the exchange market and the person who determines the price lowers the price of rice? My God, I'm confused.
[link] [comments] https://www.reddit.com/r/stocks/comments/124zka7/who_drew_the_line_on_the_price_of_rice_at_the/
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