Are you looking for platforms that give you market data? Do it with this commodities rates API! Read our article and find out!
Basic goods are products that are destined for commercial use and have as their main distinguishing feature that they have no added value, are unprocessed, or have no distinguishing feature in comparison to other products on the market; as a result, they are used as raw materials to make other goods.
The commodities market was founded in the mid-seventeenth century in Chicago, owing to the farmers who traded their harvests with other clientele. As time passes, the same farmers continue to bargain, but now they do it before harvesting and through huge intermediary actors, so that they negotiate their products with future goods pricing, in addition to setting a delivery date and signing a contract.
The following are the several groups into which commodities are classified:
Oil, coal, and natural gas are examples of energy sources.
Industrial metals are those that are employed in industrial operations, such as copper, nickel, and zinc.
– Agricultural: This group also includes wheat, corn, soybeans, and live cattle.
– Others: This category includes several essential products that are not traded on international marketplaces, such as rhodium.
Commodities, similarly, are exchanged in two types of markets:
The term “spot” refers to markets where payments are made in cash.
– Short-term manufacturing sale.
– Futures markets: firms that strive to fix future prices in order to ensure profits and investment, with the goal of purchasing so costly.
The four categories of programming languages are as follows:
- Python
- C Language
- JSON
- PHP
Taking this into account, we give you these three platforms where you can find market data:
Commodities-API
Commodities-API It is a public API that displays commodity price for commodities such as wheat, rice, coffee, and sugar. Visit the website, get an API key, and then choose the right currency and commodity to get the data. That’s all there is to it, and you may use the API as you like. The Commodities-API can offer data in whatever currency you desire, with an accuracy of two decimal places, from a pool of over 170 options. You may make up to 100.000 API queries each month and get data updates every 60 seconds.
Barchart
Barchart, an international financial technology business that delivers market data and services to the financial, media, and commodities industries, was one of the first websites to offer commodity and futures market data. While its media brands provide financial and commodities professionals with web content, news, and magazines to help them make decisions, Barchart’s unique data, software, and technology solutions power the operations of its diverse client base from front to back office.
CommoPrices
This API provides access to the prices and values of over 10,000 commodities and indexes. The data may be updated daily, weekly, or monthly, depending on the source. The amount of data in a market determines its mobility. You may learn more about a commodity by searching it up on www.api.commoprices.com.