Do you need to find commodity rates? Would you like to be able to find prices from The Stock Market more easily? Today is your lucky day! With this tool (which we will explain below), you will be able to meet your goals satisfactorily!
A commodity is a tangible material that can be traded, bought or sold. They are normally used as inputs in the manufacture of other more refined products. As for example, oil is a basic product that is used in the production of plastic materials, rubber is used to create tires, lumber is used to create wooden boards, among other things. These commodities can be traded on the domestic or international market by traders and investors, either with cash or through other currencies. However, commodities can also be exchanged for goods of similar value.
However, one of the most notable characteristics of commodities is their volatility, that is, the fluctuations to which their prices are subject throughout the year. Each product is subject to many variables that can influence the price, such as weather conditions, supply, demand, scarcity, among other things. To find out its price there are different types of commodities exchange, an exchange, or market, where various commodities are traded.
Each of them offers the prices of different products, so depending on what you need, it will determine which commodity exchange you should consult. For example, The Brazilian Mercantile and Futures Exchange (BMF) only offers Agricultural and Biofuels, Euronext only agriculture, among others. If only there was a website to find out all the prices of all the commodities on a single platform. Or not… wait. Yes, it exists! Its name is Commodities-API and with it you can obtain the prices of any commodity. All in one! It is the best commodities rates API.
Commodities-API, the best service!
Commodities-API is, as its name ending says, a simple and lightweight open source API (application programming interfaces) for current and historical commodity rates published by banks and stock exchanges. An API has the function of connecting systems, software and applications, that is, it serves as a “bridge” between us and the main Stock Markets. All this information is provided in real time with a precision of 2 decimal places and a frequency of up to 60 seconds. In other words, in just 1 minute you can update the prices and be alert to the slightest change. Needless to say, you can see the prices of many commodities such as rice, sugar, rubber, crude oil, natural gas, lumber, etc.
If you wonder what the price is, well… it’s free! Or at least you can use this service without paying anything. But obviously, the paid plans are not the same as the free one, each one has its differences. We recommend that you analyze their differences and decide which one suits you best.
Finally, you can also create charts to carry out analyzes in a simpler way, between the prices of previous years and compare the commodity you want with other raw materials.
If you have any questions, please contact [email protected] and they will respond to you shortly. Urgent requests are usually handled within minutes.
Also published on Medium.