Is there any API to get coffee “C” prices from ICE? yes! In this post, we’ll comment on how to get it.
The Coffee C contract is the international standard for Arabica coffee. The contract rates physical delivery of exchange-grade green beans from one of 20 nations of origin to one of the numerous ports in the United States and Europe, with indicated premiums/discounts for ports and growths.
Coffea arabica is a plant that grows in the Rubiaceae family, which includes coffee and madder. It is said to be the first variety of coffee to be farmed, and it is now the dominant cultivar, accounting for over 60% of global production. Arabica coffee originated in Ethiopia and was first attested in Yemen in the 12th century.
Arabica coffee is the global standard for coffee futures contracts traded on the Intercontinental Exchange (ICE). Arabica is mostly grown in Brazil (40 percent of global production) and Colombia. Perú, India, Uganda, Ethiopia, Mexico, and Cote D’Ivoire are all big exporters. Robusta beans are popular in Europe for espresso coffees, but Arabica beans are favored in the United States.
Arabica coffee futures on ICE were trading about $2.2, down from a three-and-a-half-week high of $2.3 on May 17th, owing to a slightly stronger real and a reduction in frost risk in top producer Brazil. Winds and clouds in Minas Gerais, Brazil’s largest arabica-growing region, avoided a dramatic decrease in temperatures, removing the potential of crop-damaging frosts from emerging, according to weather forecasts.
Still, the market is concerned about frost danger in Brazil this season, after frosts badly damaged the crop and brought prices to decade highs last year. According to global macro forecasts and analyst forecasts, coffee will trade at 223.00 USD/Lbs by the end of this quarter. Looking forward, we expect it will trade at 244.03 in 12 months.
If you operate or want to invest in the coffee market because you have a coffee shop, a coffee factory, or a supermarket, you should be updated about ICE coffee’s prices to keep in mind all the factors that influence the value. This information will help you to decide on investment at the best moment. To do this, you should use an Application Programming Interface. But, What is it?
What Is An API?
An application programming interface (API) is a link that connects computers or computer applications. It is a form of software interface that provides a service to other programs. An application programming interface connects computers or pieces of software to one other, as opposed to a user interface, which connects a computer to a human. It is not intended for immediate use by anyone other than a software engineer who integrates it into the software.
An API is usually made up of several components that serve as resources or services to programmers. An application or programmer that employs one of these components is said to utilize that aspect of the API. The API calls are sometimes known as subroutines, methods, requests, or endpoints.
As a result, it is a technology that allows you to receive and distribute information by embedding the API into your website or app. To get one that provides coffee “C” rates from Intercontinental Exchange, you should try Commodities-API which is the best for this purpose.
Why Commodities-API?
It’s a comprehensive API with data of more than 150 commodities that you can watch in several currencies worldwide. It collects information from the most relevant financial entities across the world and market exchanges. This commodities spot rates API provides current data, but also past data, so you can watch the value’s fluctuation and analyze the best moment to invest. It has first-class security and is very easy to incorporate into your software to share the information with your customers, because it works in JSON, PHP, and Python.