Do you know that you can obtain hard and soft commodities market data? All with the help of a commodity rates API! Check out these three options we have for you today!
In the commodities market, you can trade a wide range of things, some of which you cannot possibly imagine. But, before we go into the different types of commodities on the market, let’s first define what they are and how they work.
The planet has an infinite amount of substances and sources, including raw materials utilized to manufacture goods for daily and commercial use. Consumers might earn extra money by gambling on these fundamental resources, known as consumables, because they are in high demand and may fluctuate in commercial transactions of purchases and sales.
In its most basic form, a commodity is a tangible substance that may be exchanged, purchased, or sold. They are frequently used as raw materials in the manufacture of more sophisticated items. Petroleum, for example, is a key component in the production of plastic polymers.
Buyers and sellers in national and international markets can swap these products for cash or other currencies. Commodities, on the other hand, can be exchanged for comparable products.
These are agriculture commodities in the sense that they can be produced, reared, or reaped. This implies they comprise harvestable crops such as wheat and corn, as well as sugar and coffee. Meat and dairy goods are included as well. These are items that are produced and consumed in a variety of nations throughout the world, yet each commodity has important manufacturing and consumption locations that you should be informed of.
Hard api for commodity data, on the other hand, are those that are mined or extracted in some way from the ground. On this table, there is crude oil, coal, natural gas, bullion, and silverware. Commodity trading can take place in both hard and soft commodities, but due to differences in their quality and markets, the same strategies may not be equally effective in each case.
That is why, in order to stay up to date on commodity market pricing and movements, whether harsh or soft, you must use a platform that keeps you updated on these swings on a daily basis. We can assist you with this by providing three API commodity rate options:
Commodities-API
Commodities-API Its extensive API gives market pricing for a wide range of commodities such as wheat, rice, coffee, and sugar. To subscribe to the database, first go to the site, obtain an API key, and then choose the right currency and commodity. That’s it for the API; you can do whatever you want with it. The Commodities-API can offer content in any currency you choose, to within two decimal points, from a list of over 170 options. Customers have the ability to send up to 10,000 API calls each month and receive data updates every 60 seconds.
CommoPrices
The CommoPrices API allows users to retrieve the prices and values of over 10,000 commodities and indexes. The data may be updated daily, weekly, or monthly, depending on the source. The amount of data provided has an impact on an industry’s adaptability. Commodity traders should visit www.api.commoprices.com.
Barchart
Barchart, a global banking software company that provides market data and services to the financial, media, and commodities industries, was among the first to provide statistics on commodities and futures markets. Despite the fact that its content suppliers supply internet services, news, and magazines to help financial and commodities professionals make decisions, Barchart‘s specialist data, software, and technology solutions power the operations of its diversified customer base from front to admin team.