In this article we will take a look at one of the best APIs for getting wheat futures price updates.

Wheat is a grain crop that has been cultivated for at least 8,000 years. Being one of the most important food grains in the world, it comes in third place behind rice and maize. Wheat is the primary food source for more than one-fifth of the world’s population. This paper will focus on the wheat market and how an API may be used to retrieve real-time prices. Wheat is used to make pasta, cereals, and beer in addition to bread, which is the most widely consumed product created from it. Due to its high protein content, it is often used as animal feed. Wheat is grown all over the world, but the majority of it is produced in the US. The following nations are France, Canada, India, China, and Russia.

Automatic information sharing and communication between two different systems is made possible through a communication interface known as an API. In this case, we want to make use of an API that gives us real-time data on wheat futures prices. For this, we suggest using a WFM Prices API, which offers simple access to information on a variety of commodities, including wheat, from around the world.

Wheat can be used for a wide range of purposes. It can be transformed into flour or wheat germ oil. It can be fermented to make beer or distilled to make whiskey. It can also be used to create paper. Wheat is also used to make a variety of crackers, pastries, and breads.

Wheat is, however, most frequently used to make flour for bread and other baked goods. The United States is the largest user of wheat flour in the world, consuming over 40% of all wheat produced worldwide.

Several APIs provide real-time quotes for wheat futures. Yet, not all of them are dependable or simple to use. The Commodities API, the greatest API for rates in the future, will be introduced to you right now.

Commodities API

Via the Commodities API, which is given by more than ten distinct exchange rate data providers for commodities pricing, real-time data on valued commodities may be accessible. The API offers numerous endpoints, each of which serves a distinct purpose. The endpoint can convert values, get time-series data for one or more currencies, get the most recent commodity rate data for all or a particular group of currencies, and send API requests for data on daily variations.

Here are some definitions that will help you understand the response from this API:

• API Key: A unique key assigned to each API account used to authenticate with the API.
• Symbol: Refers to the three-letter currency code or metal code of a given currency.
• Base Currency: The currency to which exchange rates are relative to. (If 1 USD = X EUR, USD is the base currency)
• Target Currency: The currency an amount is converted to. (If 1 USD = X EUR, EUR is the target currency)
• Base URL: Refers to URL which all API request endpoints and URLs are based on.

The kind of response you will get from this API depends on the commodity you’re looking for, so if we’re trying to get the price of Wheat Futures in May 2023:

{"data":{"success":true,"timestamp":1681393740,"date":"2023-04-13","base":"USD","rates":{"ZWK23":0.001480384900074}}}

You can see that the answer states that 1 US dollar is equivalent to 0.001480384900074 grams of wheat.

All You Have To Do To Utilize It Is:

• Go to Commodities API and simply sign up, when you are done you’ll be ready to start using the API!
• Employ the different API endpoints using the symbols given by the API depending on what you are looking for.
• Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.