Are you looking for the best commodity market data API? If so, here are three of the best APIs that will make your research ten times easier!
Let’s start with a fact: raw materials, often referred to as commodities, are the resources needed to generate the wide range of consumer goods we use. The grain we use to make bread, the wood we use to build furniture, and the oil and iron we use to build and power our car engines are some of the most typical examples.
Since they are materials that will always be needed; and their demand only increases as civil society advances, raw materials are a good investment item. However, their market is constantly changing, so it is necessary to keep up to date with all the latest developments. One can keep track on this manually by researching through different exchange markets’ websites. But this method is quite difficult and time-consuming. Not to mention that, since the prices change by the second; one can make mistakes easily.
Luckily, there is another way that makes research ten times easier. This one makes use of cutting-edge technology and artificial intelligence to obtain accurate commodities prices within seconds. We are talking about a commodity market data API!
What is A Commodity Market Data API And Where To Find The Best One?
The fastest and easiest way to quickly find accurate prices from reliable sources is using an API for commodities prices. This tool gathers data on commodities from reputable sources and delivers it to your software in just a matter of seconds. However, not all the APIs available today are secured or trustworthy. This is because they can come from shady API providers! To help you choose a reliable API we’ve gathered information on three of the best commodity market data APIs available today! Check them out!
Commodities-API
Commodities-API is a popular and trustworthy API that shows the prices of many commoditie; including wheat, rice, coffee, and sugar. It gathers price data from more than 15 reliable data sources, including banks and financial institutions; and quickly makes it available to you. Also, with a frequency of up to 60 seconds and accuracy to two decimal places; all commodity data is delivered in real time!
Furthermore, Commodities-API provides data in more than 170 different currencies, to two decimal places. Each month, you are allowed to make up to 100.000 API requests, and you will get data updates every 60 seconds!
Barchart
Barchart is an online service that has been on the market for quite some time. This is one of the first websites to distribute data on commodities and futures markets. The service is provided by an international banking software company that offers market data and services to the financial media, and commodities industries.
Barchart’s unique data, software, and technology solutions power the operations of its diverse customer base from front to backend. Also its entertainment businesses offer online content, headlines, and magazines; to aid financial and market professionals in their decision-making.
CommonPrices
CommonPrices is another service that allows you to easily access more than 10,000 commodities’ and indices’ values. It successfully collects data from a variety of reputable sources and updates it daily, weekly, or monthly; depending on the plan you choose.
Furthermore is a pretty secured tool, since CommonPrices employ HTTPS to encrypt interactions between your browser and their servers!
Related post: Commodity Investing: How An API Can Be Key For Great Results