Wheat is one of the most important products in agriculture due to its high productivity and wide variety of uses. For instance, the use of wheat for livestock feeding and nutrition is a common practice in the agricultural industry. However, many producers do not know how to use this product effectively.
Wheat can be used for animal nutrition in different ways: as whole grains or as milled grains. Milled grains are more concentrated and nutritious than whole grains since they contain less fiber and more protein and energy. Whole wheat can also be mixed with other grains to increase the nutritional value of the mixture. Milled wheat can also be mixed with other ingredients, such as molasses or urea, to increase its nutritional value.
If you use wheat for livestock feeding, you have to be informed of the wheat price fluctuation. In this way, you can make sure this business is still profitable for you while being able to make the right decisions on time. One of the best tools for tracking wheat prices is a wheat price API. However, not all of them are quite reliable, therefore, we recommend the Commodities API.
Commodities API
The commodities API allows you to track pricing information for a variety of assets. It has numerous endpoints that, in general, give you a full insight into the wheat or other commodity prices fluctuation. Some of these endpoints are the latest rate endpoint, the historical endpoint, the fluctuation endpoint, and more.
Having a proper tool to monitor these changes allows producers to make smarter business judgments and avoid financial losses. Additionally, developers and programmers can greatly benefit from this API. It is sufficiently flexible to be utilized in a range of apps and websites thanks to JSON replies.
Making Use Of The Commodities API
First, create an account on the Commodities API development platform. Once you’re done, you can test this API right away. Enter the commodity’s code and the currency at the desired endpoint. Run the API call and get all the details in just a few seconds!
In this case, we chose the “WHEAT” symbol, the “Latest Rates” endpoint, and the “USD” base currency. Following the API call, we got the following information:
{"data":{"success":true,"timestamp":1685498460,"date":"2023-05-31","base":"USD","rates":{"WHEAT":0.0042401628222524},"unit":{"WHEAT":"per metric ton"}}}From the answer, we determine that 0.0042401628222524 metric tons of wheat are equal to one US dollar.
A producer normally has an estimate of how much food an animal needs, so they know how much to invest in food. However, if wheat prices change drastically, they can not avoid financial losses. By having this information in advance, they can make adjustments to the animal’s diet or take other measurements. The best part of the commodities API is that it allows you to track different assets, not just wheat. So if you’re looking for the best wheat price API, this is the best choice! This tool will provide you with all the information you need about this grain in just a few seconds! Do not wait any longer; start using it now!