Looking to get the futures prices of soybean meal? Would you like to implement an API to be able to obtain them? If your problem is that you can’t find that particular API, we have to tell you that we do know of one that will help you! It’s a soybeans price API.
Soybean takes its place in the classification of legumes, it is considered one of the most complete nutritional foods due to its high content of proteins, fibers, minerals and vitamins. There are various derived products such as soy milk, soybean, soy protein and soybean meal. This last product, soybean meal, is obtained from ground soybeans. Due to its high protein content, it can be incorporated into the daily diet, replacing proteins of animal origin such as meat, which are much fattier. In fact, it is one of the main foods for vegans as it acts as a substitute for meat. This prevents the increase in cholesterol in the blood.
Soybean meal is considered the “premium standard” among protein sources used in the animal feed industry. It has an excellent amino acid profile that complements cereals in the formulation of the diet. In fact, you have to know to about 98 percent (%) of soybean meal is used as animal feed. So, using this commodity for the livestock industry becomes essential. Without this commodity, the animals could not eat and if they do not eat, they will not be able to generate diverse products.
For this reason, being up to date with the prices of these commodities is so important, which is why you should be very attentive to the future prices of this product. To find out these types of prices, it is best to use the Commodities-API system, a virtual tool that we will talk about later.
How to obtain soybean meal futures prices with Commodities-API?
Good question. The greatest option is Commodities-API if what you’re looking for is to get soybean meal futures pricing. You will be able to get information from 15 sources, including banks and the major financial hubs of the world, with the help of this service. Its key feature is its amazing speed; in fact, it is so quick that we can get new data every 60 seconds with two decimal places of precision. Being aware of price changes will enable us to make significant financial savings during periods of unstable and high volatility in the economy. You can also make charts to make the information easier to examine as an additional piece of information.
The charts will help you compare the evolution of prices in a simpler way so that your conclusions are more precise. In addition, you can compare prices with other products.
What is the Commodities-API price?
You can obtain soybean meal futures rates without spending anything thanks to this service. But keep in mind that there are some restrictions on the amount of “API calls” in the no-cost version. If you feel that this plan is insufficient, there are two other options (professional and professional plus) that will undoubtedly satisfy your needs.
The support staff will help you if you have any problems or questions.
Also published on Medium.