Do you want to know how to get historical commodities prices in a short period of time? If so, keep reading to find out how!
Commodities are items that are traded on the market. These items can be anything from metals to cotton, corn, soybeans, and more. Commodities are traded on a global scale, which means that you can buy them anywhere in the world. However, their prices are constantly changing due to many factors; like their demand, location, economy, weather, and more.
Consequently, it is essential to get trustworthy information on price changes and commodity changes in order to monitor commodity prices. Fortunately, modern technology has made this really simple when you have access to an API for commodities prices.
What Is A Commodities Prices API?
An application programming interface (API, for short) is a web-based tool that enables communication between two applications or systems of various types. As a result, software can quickly seek and acquire specific data from reliable sources. Therefore, by using an API for commodities prices, you can learn about spot and historical commodity prices without investing a lot of time, money, or effort!
Why Should You Get Historical And Live Commodities Prices?
Commodity prices change over time; they fluctuate every day and, if you follow them manually, there is no way to predict how much they will go up or down tomorrow. However, an API that provides accurate information on current and historical commodity prices will allow you to analyze changes over time and predict future rates.
So if you are looking for a service that provides you with reliable commodity data and information, you have come to the right place! We suggest using an application programming interface (API) that provides you with accurate commodity data and information so you can make great financial decisions.
Commodities-API is a well-known and recognized open API that is used to display the pricing of a number of commodities, including wheat, rice, coffee, and sugar. It gathers price data from more than 15 trustworthy data sources, including banks and other financial institutions, and gives it to you in a matter of seconds.
Additionally, Commodities-API provides data in more than 170 different currencies with a precision of two decimal places. You can also send up to 100.000 API queries each month and get data updates every 60 seconds, depending on the subscription you select.
Furthermore, is a rather safe API to use because it makes advantage of bank-level security. Consequently, your connection to Commodities-API will be secured using the finest 256-bit SSL encryption.
How to Use This API to Get Historical Commodities Prices In Seconds
- First of all, create an account at Commodities-API and get an API key. At this point, you can choose which plan you are going to use. This API currently offers three different plans: starter (no cost), basic, and professional. Pick the one that best satisfies your needs after carefully weighing the differences between each!
- Validate your API key. Simply enter your bearer token into the authorization header.
- Next, choose the currency in which you want to see your pricing, and finally, pick the commodity symbol you want. Keep in mind that there are 170 different currencies available!
- Finally, call the API and wait a few seconds for the results.
Related post: How To Get Live And Historical Coal Rates Using An API
Also published on Medium.