Do you want to know how an API can give you the open and close commodity rates for a specific day? If so, keep reading to find out!
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.
- 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 commodities.
- Energy commodities include things like oil, natural gas, and ethanol, among others.
Unfortunately, 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. Prices rise when crops are at risk of failing; because customers have to spend more to get the goods they require. Energy in particular, as well as hard commodities, can change with the overall economy. As a result of decreased demand for fuel for all types of transportation; including trucks, airplanes, and shipping, the price of oil will often decline during a recession.
With all this in mind, is crucial to be up-to-date with what is happening in the commodity market. Luckily for you, by using an API for commodities prices; you’ll be able to easily get open and close commodity rates within seconds!
How Can An API Give You Commodity Rates?
An API is a piece of computer code that controls how a computer program functions; and is used to transfer data from one area of software to another. So, in order to use pre-existing files or data from one piece of software in another program; or one of its higher levels, an application needs an API. So, an API for commodities prices, allows your software to obtain updated commodity prices information within seconds!
Additionally, if you employ a commodities prices API, you will have access to accurate data that is updated hourly by reliable sources. Therefore, if you’re looking for a reliable API to use; we advise using Commodities-API, a dependable web-based tool with more than 6 years of market experience.
How To Obtain Open And Close Commodity Rates On A Specific Day With This API
- Go to Commodities-API’s website and register to obtain an API key.
- Then select a plan. Commodities-API now offers three plans: no-cost, basic, and professional. Look closely at the distinctions between them all, and choose the one that fits your needs the best!
- After completing the steps above, Select the currency you want to view your pricing, and then select the commodity symbol you desire . Don’t forget that there are more than 170 currencies available!
- After choosing, send the API call, and wait for the results. Keep in mind that JSON or PHP are both available as programming languages.
If you have any questions, you can contact Commodities-API’s team via email at [email protected], or you can use a live chat feature on the website. In any case, the website has detailed documentation that goes into great detail about each Commodities-API feature. You can implement the API in about 10 minutes thanks to thorough API documentation, clear code examples, and a simple API layout!
Related post: Want To Start Investing In Commodities? An API Can Help You!