Are you looking for a good way to obtain soybeans hourly rates? Try using an API!
Soybeans are a kind of legume that originated in East Asia and has a variety of uses. It’s in a lot of processed goods, as well as soy milk, tofu, fermented bean paste, and other things. They also offer oil and protein and can help prevent diseases like cancer.
Brazil produced the most soybeans in 2018, with more than 125 million tonnes. It was followed by the United States, which had over 120, and Argentina, which had about 40. Because of the extensive use of soybeans and their production, soybean ETFs have shown to be fairly trustworthy and simple to learn about for future investments.
So, if investing in soybeans is something you’ve been considering, you should think about using an API to receive hourly rates. This is a link that allows two computers or apps to interact with one another. That’s how, whenever the price changes, you get the most up-to-date information.
How To Get An API
To get this API, you need to use a software that provides you with. There are a lot of these online and every one of them works in a different way. Because of this, you should be careful with which one you choose to use in order to not lose time and money.
We propose using Commodities-API, a free web API that gives real-time data on commodity pricing such as coffee, rice, sugar, and wheat, among others, to assist you with that decision and to further explain how this works.
You must do the following to receive the information:
- Navigate to www.commodities-API.com and sign up to obtain your personal API key.
- Look up the symbols for soybeans and your preferred currency.
- Locate the commodity and money in the list using these symbols. Make the API call after you’ve decided on them.
- The website will deliver an API in several programming languages that you may modify, utilize, and adapt as you see fit.
The result will look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "SOYBEAN",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
Is This Information Trustworthy?
Commodities-API collects its information from banks and the stock exchange. It then gives it to the user with an accuracy of two decimal points. To protect your privacy, it also uses bank-grade 256-bit SSL encryption.
This API provides midpoint data, which is generated by averaging the median bid and ask rates for a certain time period. Currency and commodity price conversions use the same API endpoints and may convert any amount from one currency to another, from one commodity to any commodity, or from any currency to any currency.
Also published on Medium.