speculative rice trading before planting
Historical term for dealing in rice futures based on the expected harvest, conducted before seedlings were set out. Rare in modern usage.
In the Edo period, speculative rice trading before planting was actively conducted.
Modern term for futures trading in general, not limited to rice or pre-planting speculation.
Compound of 黒田 (くろた, 'black field', referring to unplanted fields) and 売買 (ばいばい, 'trading'). The exact historical derivation is uncertain; the term reflects the practice of trading rice before the fields were planted.