Do you know that you can get hard and soft commodities data market? All using an commodities rates API! Check these three options we bring you today!
In the commodities market you can find different types of products to trade, some that you can’t even imagine. But before explaining the categories of commodities in the market, we must make a brief introduction to what commodities are and how they work.
There are an endless number of substances and sources in the earth, including raw materials used to make items for everyday and commercial usage. Consumers can earn additional type of earnings by speculating in these basic resources, termed as consumables, because they are in great demand and might fluctuate in commercial transactions of purchases and sales.
A commodity, in its most basic form, is a physical substance that can be exchanged, purchased, or sold. They are often utilized as raw materials in the production of more refined goods. Petroleum, for example, is a fundamental component utilized in the manufacturing of plastic polymers.
Buyers and sellers can exchange these products in national and international markets using cash or other currencies. Commodities, on the other hand, may be swapped for items of comparable worth.
These are agriculture commodities in the sense that they can be produced, reared, or reaped. This implies they comprise harvestable crops such as wheat and corn, as well as sugar and coffee. Meat and dairy goods are included as well. These are items that are produced and consumed in a variety of nations throughout the world, yet each commodity has important manufacturing and consumption locations that you should be informed of.
Hard commodities, on the other hand, are things that are mined or taken from the ground in some form. So there’s crude oil, coal, natural gas, bullion, and silverware on this table. Commodity dealing may be done in both hard and soft commodities, but due to the differences in their qualities and marketplaces, the identical tactics may not be similarly efficient in each scenario.
That is why to be updated with the prices and movements in the commodity market, whether they are hard or soft, you must use a platform that keeps you informed day by day with these fluctuations. We can help you with that by bringing you three API commodity rate options:
Commodities-API
Commodities-API Its broad API provides market prices for a wide range of commodities, including wheat, rice, coffee, and sugar. To subscribe to the database, go to the portal, get an API key, and then select the appropriate currency and commodity. That’s all there is to the API; you may do everything you want with it. From a list of over 170 possibilities, the Commodities-API can deliver content in any currency you desire, to within two decimal points. Customers can send up to 10,000 API calls per month and receive data updates every 60 seconds.
Barchart
Barchart, a global banking software business that delivers market data and services to the financial, media, and commodities industries, was among the first to supply commodities and futures market data. Even though its content providers provide financial and commodities professionals with internet services, news, and magazines to help in judgment, Barchart’s specialized data, software, and technology solutions power the operations of its diverse customer base from front to admin team.
CommoPrices
Users may use CommoPrices’ API to obtain the prices and values of over 10,000 commodities and indices. According to the source, the data may be updated daily, weekly, or monthly. The volume of data provided influences an industry’s adaptability. Commodity enthusiasts should go to www.api.commoprices.com.