Believe it or not, but in 1864, the first Grain trade was made at the Chicago Board of Trade, but even prior to that in the early 1700′s there was a rice exchange that was created for the ancient Samari (seriously – you can’t make this shit up) – even Wikipedia reports it.
See Also: Futures Trading – First Trade
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1752 New York in the US, produce was traded. It was primarily spot cash transactions.
1833 forward contracting began. 1848 the Chicago Board of Trade was founded by 82 businessmen.