Are you interested in learning about corn production? Would you like to undertake an investment in it? Read this article to learn how to use an API on how to do it!
Corn is a tall cereal grass with enormous elongated ears of starchy seeds that is extensively planted. Corn seeds are used as food for people and cattle, as well as a source of biofuel. They may also be processed into a variety of valuable compounds. Corn is one of the most prolific and widely planted crops on the planet.
It is also widely farmed as a source of food for people and cattle, as well as a biofuel and a raw material in industry. Ethanol (ethyl alcohol), a first-generation liquid biofuel, is similarly made from corn. Although corn-based biofuels were formerly hailed as ecologically acceptable alternatives to petroleum, their production diverts arable land and feedstock from the human food chain, igniting a “food versus fuel” argument.
Furthermore, biofuel crops can compete for natural habitats across the world, and the focus on corn-based ethanol has changed grasslands and brushlands to corn monocultures in certain areas, reducing biodiversity. United States, Argentina, Brazil, China and Germany are the countries are the countries that use biofuel from corn.
In this way, corn is not only used as a crop and food, but also as fuel. In fact, annually about 1,060,247,727 tonnes of corn are produced per year, with different uses. This makes corn a highly marketable product. Causing many economic experts to take it as a product worth investing in. But, to start investing in a product, a market analysis must be carried out.
The first thing to keep in mind to achieve this is to choose a stable currency on the stock market. Suppose we choose to invest in the currently popular cryptocurrencies, specifically Bitcoin. To do this, we have to analyze the metrics of this coin, see its volatility in the stock market and study reports from previous months. For this, we recommend Commodities-API.
What Is Commodities-API?
Commodities-API is a free and open platform that manages through an API, computer software, which obtains data with an accuracy of two decimal places and a search time of 60 seconds. Up to 170 currencies and products can be searched on the website.
How Is It Used?
Commodities-API is quite easy to use. To do so, follow these steps:
- Create an account
- Choose an API-key, each key is unique for each user
- Select a commodity (CORN) and a currency (BTC) of your choice
Can Previous Reports Be Obtained?
Yes, you may use the “historical rates” option, which has been available since August 2021 for most currencies. By appending a date (format YYYY-MM-DD) to the base URL, you can request the API for historical rates.
For more details, check their website.