Are you trying to find the best commodities data? Check this three API for commodities prices that will get you on the top of your investments?
Commodities are a critical component of the financial market. Considering that they are necessary for producers and manufacturers. A commodity is simply a basic product or raw material that is utilized to manufacture all of the goods and operations that we require in our daily lives.
Goods come in a variety of forms, which include as cereals and energy goods. Prices are governed by basic reasons as well as supply and demand, which fluctuate as economic events unfold and cause surges of purchase and sale.
Dealers typically do not buy and sell physical commodities, but rather trade alternatives such as futures and options. Commodities are traded in the cash or spot market, as well as futures contracts on structured exchanges. Commodity futures contracts are traded on exchanges and used for speculation and hedging.
Oil, gas, coffee, soybeans, and rice are just a few examples of commodities. Items such as these are exchanged on commodity markets all over the world, including the Chicago Mercantile Exchange (CME), the London Metals Exchange, and the Intercontinental Exchange (ICE). Commodities trading helps traders to diversify their portfolios, especially during times of market instability.
Because commodities are exchanged on markets, their values are not determined by a single person or entity. In truth, there are numerous economic elements and triggers that influence and move their prices on a daily basis.
The commodity market is a competitive environment. Therefore, to stay ahead of the rest and up-to-date with the fluctuating movements of products, many investors depend on platforms that are based on software that provide them with these market data. We leave you below the three best commodities prices API that will give you fast and accurate data.
Commodities-API
Commodities-API It’s an accessible community API that shows commodities prices for things like wheat, rice, coffee, and sugar. Go to the website, obtain an API key, and then select the appropriate currency and commodity to obtain the information. That’s all there is to it, and you can use the API however you see fit.
The Commodities-API can provide data in any money you choose, with two decimal places of precision, from a pool of over 170 possibilities. Every month, you can make up to 100.000 API queries and receive received data every 60 seconds.
Barchart
Among the earliest companies to offer commodities and derivatives market information was Barchart, a global commercial software company that provides market data and services to the financial, media, and commodities industries. Whereas its media assets offer web content, news, and periodicals to strengthen the financial and commodities experts make choices, Barchart’s unique data, software, and technology solutions power the operations of its varied client base to front and back office.
CommoPrices
This platform connects directly to over 10,000 commodities and indexes’ prices and ratings. In accordance with the source, the data may be updated daily, weekly, or monthly. An industry’s motility is determined by the amount of data it contains. One can learn more about a commodity by visiting www.api.commoprices.com