You have come to the right place if you are a developer seeking for a nice API to learn about corn futures prices. We’ll go into greater detail about it and how to use it in this article.

Farmers and agricultural traders utilize corn futures to hedge against price swings by buying or selling corn ahead of the harvest. By acquiring or disposing of corn futures before their expiration, traders can also benefit from changes in price. The price of American corn exports is heavily influenced by the corn futures market, which serves as a significant indicator of the demand for American corn exports. Because it is a key indicator of the demand for U.S. corn exports and hence plays a big part in determining the price of U.S. corn exports, the CBOT corn futures market has a substantial impact on the U.S. corn market as a whole.

Application programming interfaces, or APIs, are a collection of features and protocols that let one piece of software communicate with another piece of software or with external systems. In other terms, an API enables data interchange and communication between two independent software applications. Users can access data about corn futures, including their price, using a tool called a Corn Future Prices API.

The Chicago Board of Trade (CBOT), New York Futures Exchange (NYF), Kansas City Board of Trade (KCBOT), Chicago Mercantile Exchange (CME), and Minneapolis Grain Exchange all provide corn futures for trading (MGEX).

5,000 bushels are the standard trading unit for corn futures. A quarter-cent per bushel price change, or tick, is the minimum. The delivery dates for the CBOT corn futures contract are March, May, July, September, and December. The delivery dates for the NYF corn futures contract are March, May, July, September, and December. The delivery dates for the KCBOT corn futures contract are March, May, July, September, and December. The delivery dates for the CME Corn Futures contract are March, May, July, October, and December.  The MGEX corn futures contract is for delivery in March, May, July, October, and December.

Get To Know The Commodities API

The Commodities API is able to give real-time precious commodities data since it is powered by 10+ exchange rate data sources for commodities pricing. The API has several endpoints, each of which serves a different use case. Endpoint features include retrieving Time-Series data for one or more currencies, converting quantities between one currency and another, getting the most recent commodities rates data for all or a selected range of currencies, and accessing the API for daily fluctuation data.

In this situation, we’re seeking for corn futures pricing in May 2023; this is the type of response you’ll get from this API dependent on the product you’re looking for:

{"data":{"success":true,"timestamp":1681319220,"date":"2023-04-12","base":"USD","rates":{"CK23":0.0015238095238095}}}

As you can see from the response, 1 USD is equal to 0.0015238095238095 grams of corn.

All You Have To Do To Utilize It Is:

• Go to Commodities API and simply sign up, when you are done you’ll be ready to start using the API!
• Employ the different API endpoints using the symbols given by the API depending on what you are looking for.
• Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.

Your API Key is the unique key that is supplied into the access key field of the API base URL in order to authenticate with the Commodities-API API. You may also sample this API for free for 7 days.