Corn, often known as maize, is a cereal plant and edible grain that originated in Mexico. It is now one of the most widely disseminated commodities on the planet. It may be consumed, utilized as a biofuel, and even as a raw material.
It is the most significant crop in the United States, and the country produced almost 400 million tons of maize in 2018. China came in second with almost 250 million tons, followed by Brazil with 82. However, it is widely farmed across the world, with a total production of 1.15 billion tons in 2018.
Investing in maize is a smart option since its output increases year after year and it is used by the majority of the world’s countries. However, you need to know that its price changes constantly, so it’s very difficult to know how corn acted at different points in time. You can get real-time prices with an API, but not all softwares can give you historical rates.
Nevertheless, it’s not impossible to obtain a historical price. We strongly recommend that you use Commodities-API for this matter. This is on a free online API that gives commodity pricing for commodities such as coffee, rice, sugar, and wheat, to name a few.
How Does It Work?
To get the data, first, log in to the website, get an API key, and then choose the relevant currency and commodity. That’s all there is to it, and you may use the API anyway you see fit. The Commodities-API can provide data in whatever currency you choose, with an accuracy of 2 decimal points, from a list of over 170 options. You may also receive data updates every 60 seconds and make 100.000 API queries each month.
Commodities-API makes use of JSON API, or JavaScript Object Notation, an encoding approach that avoids the requirement for each application to create its own ad hoc code in order to connect with servers that communicate in a certain way. The JSON API module implements entity types, bundles, and fields, as well as data storage and data structures.
Commodities-API provides historical rates for major currencies dating back to the year 2020. By adding a date (format YYYY-MM-DD) to the basic URL, you may query the Commodities-API API for historical rates.
Example
API Request:
https://commodities-api.com/api/2013-12-24
? access_key = API_KEY
& base = GBP
& symbols = USD,CAD,EUR
Request Parameters:
| Parameter | Description |
| YYYY-MM-DD | [required] A date in the past for which historical rates are requested. |
| access_key | [required] Your API Key. |
| base | [optional] Enter the three-letter currency code or metal code of your preferred base currency. |
| symbols | [optional] Enter a list of comma-separated currency codes or metal codes to limit output currencies. |
Where Does The Information Come From?
Commodities-API gathers data from banks and the stock market and uses it to provide you with the most dependable and secure data available. Aside from that, this API employs bank-grade 256-bit SSL encryption to ensure the security of your connection at all times.
Currency and commodity prices are converted using the same API endpoints, which may be used to convert any amount from one currency to another, as well as any commodity to any commodity and any currency to any currency. The API provides midpoint data for all commodities and currency rates. The average median rate of Bid and Ask within a certain time period is used to determine midpoint rates.
Also published on Medium.