Soy is a legume crop grown quite widely in Australia. If you want to get soy rates in AUD, you could use an API.
Soy is a key ingredient in all forms of vegetarian and vegan diets. It is vital for their proper functioning, as it supports the operation of hormonal systems and the development of bones, muscles, and tissues.
Its prices are typically quoted in US dollars because most of the soybean production, processing, and eating happens there. This means that any soy-related decision in Australia is likely to be based on the dollar value of soybeans in America. Farmers, traders, and manufacturers purchase and sell soy at market rates and not always at a fixed price.
However, sometimes it’s more convenient to be able to access these prices in AUD. So, where can you get them updated in real-time? Using an API is the best approach to get this information. This is an API-based interface that collects data from a place and transmits it to the person who requested it. This technology collects data, which allows two computers or programs to connect with one another.
How To Use An API
What exactly is an API (application programming interface)?
An API is a programmatic interface for gathering data from a place and delivering it to you very quickly. This enables you and your consumers to check the price of wheat at any time.
You’ll need to find a suitable product that has an API for getting wheat prices in order to get access to this. This might be a challenging task because not all software is created equal and cannot offer you the information you want. You must continue with caution, since making the wrong option might cost you a significant amount of money and time.
You’ll need software that permits you to make API calls. We recommend you use Commodities-API:
Why Commodities-API?
Commodities-API is a free public API that displays commodity pricing for a wide range of items such as coffee, rice, sugar, and wheat. Commodities-API supports over 170 currencies and provides data with a 2 decimal point precision.
Every 10 minutes or every 60 seconds, it might be updated. Historical information is also available, allowing you to reflect on past events and create goals for the future.
To convert currency and commodity prices, it uses the same API endpoints as Commodities-API, enabling you to convert any amount between currencies, any commodity between commodities, and any currency between currencies.
You must do the following to get soy rates in AUD:
- Create an account at www.commodities-api.com to obtain your API key.
- Look for the symbols that you want to test (SOYBEAN and AUD)
- Use these symbols to find the commodity and money in the list. After you’ve settled on them, make the API call.
Seek out the most recent pricing. The website will provide you with an API in a number of computer languages that you may customize and use whatever you like.
The following will be the response:
{"data":{"success":true,"timestamp":1644260400,"date":"2022-02-07","base":"AUD","rates":{"WHEAT":0.002669002646948978},"unit":"per metric ton"}}
More Information About This Software
Commodities-API can provide real-time commodity data with a 2 decimal point precision and a frequency of up to 60 seconds. There are exchange rates for nearly every commodity, as well as Precious Metals, currency conversion, Time-Series data, and volatility information.
Rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and other commodities are all rising in price. Furthermore, this API delivers precise commodities and exchange rate data for over 170 different foreign currencies, including Bitcoin and other major cryptocurrencies.
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Try This API To Get Wheat Rates In Australian Dollar
Also published on Medium.