Do you want to know how to implement an API for wheat from month data for your research project? In this post, we will tell you how to!
Research projects are necessary for the development of new products and services. In this sense, the analysis of the data obtained through these projects is key to understanding the needs of customers and, therefore, to be able to offer them better products in the future. In this sense, the data obtained can be analyzed through different tools that allow us to make a more accurate analysis. For example, through APIs. These are programming interfaces that allow us to incorporate into our projects different types of data.
In this sense, if you want to analyze the data of your research project, you should incorporate an WFM API that allows you to get information on the different types of grains that are being produced in a certain month. This way you will get more accurate results and better results.
Numerous health advantages of wheat have been demonstrated. It has been connected to a decreased risk of cancer and heart disease. Wheat can also aid in managing diabetes and losing weight. Wheat is a grain with a wide range of applications. It can be eaten as a main entrée or as a side dish. It can be cooked in a variety of methods, including baking, boiling, and frying.
There are several websites that track commodity prices, but not all of them provide the pricing data in a machine-readable way. You as a website developer might want to display commodity pricing on your website. Because the Commodities API may access commodities data, your development time is reduced.
Commodities API
Initially, banks and the stock exchange provided commodities rates through Commodities-API, an easy-to-use, lightweight Open-Source API. With a frequency of up to every 60 seconds and a precision of two decimal places, this API can provide developers real-time commodity data. Giving exchange rates for virtually any product, converting between single currencies, providing time-series data, and generating volatility statistics are just a few of the capabilities.
You can obtain data from a variety of goods using this API. The API will provide a certain symbol that you must provide into the endpoint in order to receive a response that resembles this. Every object has a special symbol.
{"data":{"success":true,"timestamp":1684848480,"date":"2023-05-23","base":"USD","rates":{"WFM":0.0016359918200409},"unit":{grams}}}
On this particular occasion, we required pricing and information for Wheat From Month, and this API gave us the symbol “WFM”. This indicates that 0.0016359918200409 grams of wheat are equivalent to one US dollar.
All the commodities rates you get using USD as a base currency need to be divided by 1. We return the values based on the base currency. For this example, for 1 USD the return is a number like 0.0016359918200409 grams of Wheat From Month (WFM). To get the Wheat rate per gram in USD: 1/0.0016359918200409 = 611.25 USD.
To Use It, Just Adhere To These Steps:
- To use the API right away, all you need to do is sign up at Commodities API!
- Look for the symbols that match your search.
- Make an API call with them, placing your selected commodities in symbol, and your preferred currency in base currency.
The API only provides midpoint data for all commodities and exchange rate data. The average median rate of the bid and ask at a specific period is used to calculate midpoint rates.