Are you interested in the textile market? Would you like to invest in cotton? Read this article to understand how to invest with an API
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective sheath, around the seeds of cotton plants in the genus Gossypium in the mallow family Malvaceae. The fiber is almost pure cellulose and may contain minor percentages of waxes, fats, pectins and water.
Cotton will grow in a wide-range of climates from semi-arid desert conditions to mountainous sub-tropical conditions. Cotton will only grow in low temperates climates. It is a slow-growing crop that need enough good days of the right climate to produce a good cotton crop.
After Russia, Canada has the world’s greatest surface area. It also has plenty of water and fertile soil, ideal for growing cotton. The environment, however, is unsuitable since it is too chilly. However, several countries in the world’s coldest regions were able to cultivate cotton. Turkey, Russia, and Romania are three of the most populous countries in Europe.
In fact, in Alberta, Canada, a group of women avid for gardening became known by the local media for being able to harvest 400 kilos of cotton in a two-year project. This harvest was carried out through an investment in LED lights specifically made for the purpose of raising plants outside their natural habitat, a fairly exhaustive irrigation and frost containment system was also used.
So, if you are a small Canadian farmer wanting to get into the cotton business, all hope is not lost! But, before entering this market and investing in it, you should keep in mind that cotton prices on the stock exchange are constantly changing and that it will not only depend on the product but also on how the Canadian currency is positioned in the market. To do this, we recommend the use of the Commodities-API platform
What Is Commodities-API?
It’s a free web API service that gives you real-time commodities data on things like coffee, rice, and maize. Commodities-API, on the other hand, provides a currency exchange with two decimal places of precision and a list of 170 market products in any currency. In reality, it provides information on prior months and years’ data so you may pick the best approach to finance your money and move in the market.
Why Choose This Platform?
This site has many factors to choose it. This can be evidenced with these three characteristics:
Sure
The website works with an SSL encryption, that is, a connection that ensures encryption from both sides of the web page. These types of connections are commonly used in banking entities.
Easy to use
Another important factor of Commodities-API is how easy it is to use. To do this, you have to follow this guide.
- Create an account
- Get an API-key
- Choose currency (CAD) and commodity (COTTON)
Access to previous reports
On the Commodities-API website you can also have the option of obtaining data and financial reports for previous days, weeks, months and years. You just have to go to the “historical rates” option and put the date you want in the URL in this format: YYYY MM DD.