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Best API To Get Hourly Rice, Coffee, And Sugar Rates in 2021

Commodities are the fundamental building blocks of the global economy, upon which the majority of other items are based. They are divided into two: hard commodities (natural resources) and soft commodities (agricultural products).

Commodity markets are popular among traders because prices may be extremely volatile, implying that there are frequently opportunities to profit by going long or short. Consumer trends, weather patterns, infrastructure, government policies, economic performance, reserve levels, and currency values are all factors that might influence the price.

Three of the commodities that most change their price and level of production are rice, coffee, and sugar. It’s no less important that these foods are part of everyday life for many countries in the world. Because of all this, investing in one or all of these is probably a good idea. However, to do that, you’ll need to stay updated on how the prices change in the currency you are using.

Best API To Get Hourly Rice, Coffee, And Sugar Rates in 2021

For that reason, it’s really helpful to use an API, which allows you to interface programmatically with a certain software component or resource. An API sends a user response to a system and receives a response from it. There are a few softwares that utilizes them and return the JSON response from the API.

To get that API, you’ll need to access a software that provides you with it. For that matter, we recommend you use Commodities-API or CommoPrices. To explain the process better, we will use the first one.

What Is Commodities API?

It’s a free API that delivers real-time statistics on commodities including sugar, wheat, and coffee, among others.

Commodities-API data may be sent in any currency, to an accuracy of two decimal points, from a selection of over 170 alternatives. You can also get data updates every 60 seconds and run 100.000 API requests each month. To obtain the data, log in to the website, obtain an API key, and then choose the currency and commodity of interest. That’s all there is to it, and you’re free to use the API anyway you see fit.

Best API To Get Hourly Rice, Coffee, And Sugar Rates in 2021

Commodities-API collects data from banks and stock exchanges and then uses it to offer you the most reliable and secure data available. Aside from that, this API uses bank-grade 256-bit SSL encryption, which ensures that your connection is always secure.

The same API endpoints are used to convert currency and commodity prices, and they may be used to convert any amount from one currency to another, any commodity to any commodity, and any currency to any currency.

How To Obtain The API

You must visit, login, and obtain your personal API key. Then you select the commodity and currency of your choice, and the website will supply you with the information in JSON format, which you can utilize any way you see fit.

That’s all; you now have a free commodity rate API at your disposal, which you may modify to any code you like.

Also published on Medium.

Published inAppsTechnology
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