Do you trade in wheat futures and are wondering about the interest rate for the Japanese yen trade? If this question is on your mind, then you’re most probably looking for what the latest wheat rates are. I can give you an answer to your query by letting you know that you can get real-time wheat rates in Japanese yen using an API.
Wheat, a cereal grain that has a hard-outer hull made of gluten is common in the world. Wheat (Triticum) Prices are a vital factor for the economy in many countries including Japan and are used for different purposes such as food, livestock feed, and papers.
An application programming interface (API) is a collection of procedures, conventions, and tools for creating software. The API is an interface that allows you to connect to a server, which will provide values of wheat in Japanese yen. Getting wheat prices in GBP through a third-party API may be highly cost-effective as there are no sign-up fees.
You’ll need software that permits you to make API calls in order to use an API.
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. It 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. So, this enables you to convert any amount between currencies, any commodity between commodities, and any currency between currencies.
If you want to get wheat rates in Japanese yen, do the following steps:
- Get your API key by creating an account at www.commodities-api.com.
- Look for the wheat and Australian dollar icons (AUD).
- Once you’ve got both of them, call the API with both.
- You will receive a JSON answer from the software, which you may change and use as required.
An example of a response is as follows:
{"data":{"success":true,"timestamp":1643831280,"date":"2022-02-02","base":"AUD","rates":{"WHEAT":0.0027001083564864616},"unit":"per metric ton"}}
How accurate is this?
A hundred percent. This program uses an API to get data from banks and the stock market, making it completely trustworthy. This data, which is accurate to two decimal places and adaptable to JSON, PHP, and Python, is then sent to you. Furthermore, Commodities-API uses bank-grade 256-bit SSL encryption to secure your connection.
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Also published on Medium.