Do you want to get the high and low price of any commodity on a specific day? If so, you should use an API!
Commodities are essential goods that both consumers and businesses use. These include agricultural commodities including grains, coffee, corn, and wheat that are produced for human consumption. But there is also the livestock sector, which includes, among others, lean hogs and live cattle. The resources that are typically extracted through mining, notably metals like copper, iron, and aluminum, among others, are other goods. Energy commodities include things like oil, natural gas, and ethanol, among others.
However, due to shifts in supply and demand, commodity values can alter drastically. For instance, the price typically decreases when a given agricultural crop is harvested in big quantities. Meanwhile, prices rise when crops are at risk of failing because customers have to spend more to get the goods they require.
Thus, in order to keep track on commodity prices, it is necessary to obtain reliable information on their changes and prices. Fortunately, thanks to technology advances, this is quite easy when you have an API for commodities prices at hand!
What Is An API For Commodities Prices?
A piece of computer code called an API is used to move data from one software to another and regulates how a computer program works. Therefore, an application needs an API in order to use pre-existing files or data from one piece of software in another program or one of its higher levels. Therefore, a commodity price API enables your software to quickly get current commodity price data, that is gathered from several reputable financial sources.
A commodities prices API will also give you access to precise data that is updated in real-time; as well as historical data. So, if you are looking for a reliable way to obtain high and low commodity prices; we suggest using and API that has more than six years of expertice on the market; Commodities-API. This one is a reliable JSON API that provides real-time commodity prices, as well as currency conversion.
How To Get The High And Low Price Of Any Commodity With This API
- First of all, register on the Commodities-API website to get an API key. Onc you’ve obtained, you have to choose a plan. There are now three plans available through Commodities-API: no-cost, basic, and professional. Consider the differences between each one carefully and pick the one that best suits your requirements!
- The next step is to authorize your API key so you can start sending API requests. Just add your bearer token into the Authorization Header.
- Then, to obtain commodity data just select the currency you wish to view your pricing in after completing the aforementioned procedures; and then pick the commodity symbol you want. Remember that there are more than 170 different currencies to choose from!
- Finally, send the API request after making a decision, then wait for the response. Remember that you can use PHP or JSON as a programming language.
And that’s pretty much it! Commoditties-APi will take care of the rest for you. As you can see, this API is pretty user-friendly. However, if you have any problems getting started with it visit https://www.commodities-api.com/ for more details.
Related post: Use An API To Obtain Commodities Spot Prices In 2022