Do you want to get rapeseed futures prices? Use an API to do this! In this article, we’ll comment on one that will be very useful to you.
Rapeseed is a raw material. It has a lot of applications and industrial processes. This agriculture is thought to have originated in Asia Minor. Eventually, it was performed throughout the Mediterranean, and the Greeks and Romans planted this herb for both food and medicine. Rapeseed is a historic oilseed crop in several European nations, including France, Germany, the United Kingdom, and Poland. Canada, China, and India are the world’s major producers.
Rapeseed agriculture has regained significant relevance as a result of the biodiesel sector’s increased supply as well as its pricing. Rapeseed oil is a valuable raw resource in this business, which has resulted in higher prices in the region cultivated with this oilseed. It is also used to produce oil for human consumption, bread, and feed.
It has long been regarded as a mediocre crop, with typical yields of roughly 1500kg/ha. Nevertheless, yields have increased significantly in recent seasons, owing mostly to the cultivation of novel kinds and hybrids, as well as the employment of more sophisticated farming methods.
Previously we said that some countries of the European Union are among the main producers. However, following the war in Ukraine, rapeseed prices are falling across the continent. On the other hand, there are countries where the cultivation of this material is growing a lot and could boost business, such as in South America, in Argentina.
Use An API
As we have seen so far, rapeseed is a raw material that, although not well known, has many uses and could skyrocket in the global crop business. Like so many other raw materials, it is suffering the effects of war and stagflation, which have a direct impact on its price. That is why investors are attentive minute by minute to get the best futures contract for this item to guarantee a good purchase or sale at another time soon.
You may be wondering why then you should use an API. This type of technology transmits information in real-time. For this reason, you will be able to transfer up-to-date data on rapeseed futures prices. Programmers simply embed it in their digital media such as websites or apps and that’s it.
If you want to get rapeseed futures prices from reliable sources, you can use the Commodities-API. This API in particular will provide you with prices in several international currencies of different raw materials.
Why Commodities-API?
This API not only transfers derivative prices to you. You can also find spot prices for both rapeseed and hundreds of other raw materials. This way you can incorporate the API with different documentation.
This will allow you to juxtapose information such as futures contracts, spot contracts, and rapeseed prices in euros and dollars. You can also put rapeseed prices next to other raw materials such as corn or wheat. You can do all this easily since the API is handled with different programming languages.