Do you want to know the wheat prices in the future? You have come to the right place!

One of the most significant grains in the world is wheat. It is a common ingredient in many goods, including beer and whiskey as well as bread and pasta. The price of wheat can be predicted using futures contracts. You can purchase futures contracts if you believe the price of wheat will increase. When the time comes to harvest your wheat, you will be able to sell it for more money thanks to this. On the other side, you can sell your futures contracts and buy them back at a cheaper price if you believe the price of wheat is declining. You can obtain more wheat for your money in this method.

With a communication interface known as an API, automatic information sharing and communication between two different systems is made possible. In this instance, we’d like to leverage an API that provides real-time information on wheat futures pricing. We advise using a WFM Prices API for this since it provides quick access to data on a range of commodities, including wheat, from around the globe.

There are many different uses for wheat. It can be converted into wheat germ oil or flour. It can be distilled to make whiskey or fermented to make beer. Paper can also be made with it. A variety of crackers, pastries, and breads are also made from wheat.

However the flour made from wheat is the one that is most usually used to produce bread and other baked items. With more than 40% of the world’s wheat production consumed there, the United States is the world’s greatest consumer of wheat flour.

Wheat futures quotes are available in real-time via a number of APIs. Yet not all of them are trustworthy or easy to use. You are about to learn about the Commodities API, the best API for rates in the future.

Commodities API

Real-time information on highly valued commodities may be accessed through the Commodities API, which is provided by more than 10 different exchange rate data providers for commodities pricing. Many endpoints are available through the API, each of which has a specific function. The endpoint can submit API calls for data on daily changes, convert values, obtain time-series data for one or more currencies, and obtain the most recent commodity rate information for all or a specific set of currencies.

Here are some definitions that will help you understand the response from this API:

• API Key: A unique key assigned to each API account used to authenticate with the API.
• Symbol: Refers to the three-letter currency code or metal code of a given currency.
• Base Currency: The currency to which exchange rates are relative to. (If 1 USD = X EUR, USD is the base currency)
• Target Currency: The currency an amount is converted to. (If 1 USD = X EUR, EUR is the target currency)
• Base URL: Refers to URL which all API request endpoints and URLs are based on.

If you use this API to find the price of wheat futures in may 2023, you will receive one of the following responses:

{"data":{"success":true,"timestamp":1681395600,"date":"2023-04-13","base":"USD","rates":{"ZWK23":0.0014897579143389}}}

As you can see from the response, 1 USD is equivalent to 0.0014897579143389 grams of wheat.

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.

Moreover, Commodities-API offers data with a precision of two decimal places in more than 170 different currencies. Depending on the subscription you choose, you can submit up to 100.000 API queries per month and receive data updates every 60 seconds. A free week of testing is available for this API as well.