Are you looking for an open and commercial API for commodities future rates? If the answer is yes, you are in luck! Here are three of the best!
It is important to know the commodity market because it impacts almost every aspect of our lives. Commodities include things that we use daily, such as food and fuel. These prices have a great impact on the economy; because they determine how much stuff we can buy at different prices.
For instance, if a country’s currency is weak and commodity prices are high; then it will become more expensive for them to buy goods from other countries where the currency is stronger. This could cause an economic crisis if there is not enough foreign capital going into the country; because people will want to invest their money elsewhere where they can get higher returns on investment (ROI).
So, since commodity prices are volatile; it means that you need to be aware of what happens with them on a daily basis. If you do this, you’ll be able to make better decisions about your investments and financial future. Fortunately, an easy and effective way to be up-to-date with these prices, is by employing an API for commodities future rates.
Top Open And Commercial APIs For Commodities Future Rates
APIs for commodities future rates are programs committed to giving its users market data promptly and securely. However, not every web service available on the Internet is trustworthy. Some APIs can be inaccurate, or expensive for no reason at all. Thus, we offer you the following three open and commercial platforms with reliable commodities prices API; in order to help you choose the best one for you.
Commodities-API
The well-known and dependable service offered by Commodities-API is used to display the prices of many commodities; including wheat, rice, coffee, and sugar. You may easily get the price data that is compiled from more than 15 reliable data sources; including banks and financial institutions. All commodity data is also provided in real time, with accuracy to two decimal points; and a frequency up to 60 seconds!
Additionally, Commodities-API provides data in more than 170 different currencies with a two-decimal point accuracy. And the best part is that you may get data updates every 60 seconds; and make up to 100.000 API requests each month!
Open Exchange Rates API
With currency rates for more than 200 digital currencies throughout the world, Open Exchange Rates offers a portable, live, and simple API. It’s possible that you’re already utilizing this platform to incorporate a JSON-formatted API to discover how to invest. To ensure fair and impartial coherence, data are gathered from a variety of reliable sources and combined algorithmically.
The forms of exchange that are made accessible through Open Exchange Rates API are collected using information from numerous trustworthy sources, delivered in JSON format for all users, and then publicized. There are no ambiguous contracts, challenging consultation processes, or challenging authentication procedures.
Nasdaq Data Link’s Commodity Price API
Nasdaq Data Link is another well-known website where you may access financial, economic, and alternative datasets. One of the various financial data APIs that are available is a commodity price API. You will have access to over 100 different commodities using this API, including the cost of precious metals, and agricultural products.
Additionally, you have access to daily spot prices as well as historical commodity prices through this user-friendly API. Nasdaq Data Link’s API for commodities prices is without a doubt one of the simplest ways to search for and download commodity prices with its variety of software tools, including R and Python.
Related post: Use An API To Obtain Commodities Spot Prices In 2022
Also published on Medium.