Also called maize, corn is a cereal plant and edible grain that originated in Mexico. Nowadays, it’s one of the most distributed commodities in the world. It has many uses, it can be eaten, used as biofuel, and also as raw material.
In the United States, it’s the most important crop and, in 2018, the country produced almost 400 million tons of corn. It was followed by China with over 250 million tons and Brazil with 82. However, it is widely cultivated throughout the world and the total production in 2018 was 1.15 billion tons.
Reasons To Trade Corn
If you decide to invest in the business of corn, you’ll need to have four things in mind:
- Bet on Ethanol Demand.
- Bet on Chinese Demand.
- Stay updated on inflation hedge
- Have a diverse portfolio of investments
Investing in corn is a good idea since its production grows more every year and most countries in the world consume it. So, if you decide to do it, you need to know the importance of having updated rates all the time. For that, you can use an API, which is a connection between two computers or applications that allows them to interact with each other.
To get an API, you’ll need to find a good software that gives you real-time information about your investments. There are a few programs that do this, but, as we use Commodities-API, we highly recommend you to check it out. This is on an online free API that gives commodities rates, such as coffee, rice, sugar, and wheat, among others.
How Does It Work?
To obtain the information, first, log in to the website, obtain an API key, and then select the desired currency and commodity. That’s all there is to it, and you may use the API any way you like. Data from the Commodities-API may be supplied in any currency you desire, with an accuracy of 2 decimal points, from a list of over 170 choices. You may also get data updates every 60 seconds and conduct 100.000 API requests each month.
Commodities-API takes advantage of JSON API, or JavaScript Object Notation, which is an encoding technique that eliminates the need for each application to write its own ad-hoc code in order to connect with servers that interact in a specified manner. Entity types, bundles, and fields, as well as data storage and data structures, are all implemented in the JSON API module.
Where Does The Information Come From?
Commodities-API collects data from banks and the stock market and uses it to offer you the most reliable and secure data available. Aside from that, this API uses bank-grade 256-bit SSL encryption to keep your connection secure 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 from one commodity to another and any currency to any currency. For all commodities and currency rates, the API delivers midpoint data. Midpoint rates are calculated using the average median rate of Bid and Ask during a particular time period.
Also published on Medium.