Do you want to obtain soybean meal futures in seconds with the help of an API? If the answer is yes, keep reading to find out how!
Soybean Meal is a type of meal that is extracted from soybeans. It is a great protein source. This commodity in particular is one of two plant meals that contain all of the necessary amino acids present in meat; (the other being amaranth seed and, to a lesser extent, quinoa). Soybeans meal are strong in protein and fiber; low in saturated fat, no lactose and cholesterol, a good source of omega-3 fatty acids; and a good source of antioxidants. Aside from human consumption; it is also used for animal feed or fertilizer production.
Soybeans have many uses in the United States economy; and are considered one of the major commodities along with corn and wheat. However, the price of soybeans is highly volatile because it depends on supply and demand factors; which change daily due to weather conditions or political events that affect crops around the world which impact supply levels.
Therefore, you should pay close attention to the future pricing of soybeans meal; if you want to trade or invest in this particular commodity. There are many ways to get commodity prices today, but not all of them are cost-effective. Fortunately, you can use a JSON API for commodities prices to receive daily; quick, and accurate access to a range of commodities, including soybean meal.
How Can You Obtain Commodities Future Rates With An API?
Data is sent from one piece of software to another through an API, which regulates how a computer program operates. In other words, a program must have an API in order to consume pre-existing files; or data from another program or one of its upper levels.
As a result, a commodities pricing API enables your software to quickly obtain up-to-date commodity price data; that is compiled from a variety of trustworthy financial sources. This information is often accurate and constantly updated. In order to aid in your market analysis, it also provides historical data.
So, we suggest using platforms designed to provide various commodities prices for various market currencies via APIs; for anyone interested in learning more about commodities and other financial matters. You can get started with a reliable API like Commodities-API; which is a website that is highly regarded in the sector.
How To Obtain Soybean Meal Futures With This API In Seconds
- First, create an account on Commodities-API to obtain an API key. At this point, you can also select the plan you wish to utilize, and it is simple and costless. The three plans that are presently available for this API are amateur (no-cost), basic, and professional. Select the one that best satisfies your requirements after analyzing their differences. For instance, if you choose the first plan, you will receive hourly commodity updates without spending a cent!
- After enrolling, you’ll receive an API key that you can use each time you contact the API. However, before utilizing it, authenticate it by supplying your bearing token in the authorization header.
- To obtain commodity rates, just select the currency you wish to view them in; then the commodity symbol of your choosing (in this case, soybean meal).
- Last but not least, send the API request and wait a few seconds for the response.
Related post: How To Use An API For Cheese Cash-Settled Future Rates (2023)
Also published on Medium.