Are you part of a commodity trading company and are looking for a way to save time and money on your business? Then you can use an API!

The profession of commodity trading necessitates regular price observation. Knowing the market’s volatility and having the ability to predict future moves are prerequisites for making lucrative purchases. Manual labor is an option, although it is time- and labor-intensive. For this reason, a lot of businesses use APIs that offer real-time data on commodities.

APIs are software interfaces that link two systems and permit inter-system communication. In many ways, they are really helpful. When it comes to commodities trading, they make it possible for you to receive real-time pricing information without having to conduct all of your own research. Saving time and money this manner is also incredibly cost-effective. There are many advantages to using an RBOB Prices API.

You will be able to receive real-time updates on price information as a start. As a result, you will have an advantage over rivals because you will know exactly when to buy or sell your goods.
Additionally, you will have access to information about several markets simultaneously, which will help you decide on your investments more wisely. Last but not least, you will be able to access this API on your smartphone or tablet to constantly stay up to date on rates wherever you are.

Commodities API

Through the Commodities API, which is made available by more than ten distinct exchange rate data providers for commodities pricing, developers can get real-time information on the value of commodities. Each endpoint in the API has a different function and there are many of them.

The endpoint allows users to submit API queries for data on one or more currencies, information on daily fluctuations, value conversion, and time series data for one or more currencies. The most recent commodity rate data for all or a particular group of currencies can also be requested through API.

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.

This API will provide you a range of responses depending on the commodity you’re looking for. We’re curious to learn more about coal in this particular case. You may search up information on it by using the RBOB Gasoline symbol provided by the API (RBU22):

{"data":{"success":true,"timestamp":1683825240,"date":"2023-05-11","base":"USD","rates":{"RBU22":0.40650406504065},"unit":{gallons}}}

As you can see from the response, one dollar is equivalent to 0.40650406504065 litres of RBOB Gasoline.

The Agriculture Rates API provides data in more than 170 different currencies with a precision of two decimal places. Depending on the subscription you select, you can make up to 100.000 API requests per month and get data updates every 60 seconds. There is a seven-day trial period available for this API.