Are you interested in buying soybeans? Would you like to know its price and its historical evolution on a chart? If that is the case for you, you should read this informative article.
Soybean is the legume with the highest amount of proteins, which are of high quality. Unlike what happens with proteins from other plant-based foods, soybean contains a sufficient amount of amino acids. In addition, it provides almost 37 grams of protein per 100 grams, which means that, at the same weight, it contains twice as much protein as meat. It was discovered in China and was part of the five sacred seeds created by the gods (along with rice, wheat, barley, and millet).
Soybeans are mainly used to make feed for industrially farmed animals, with the aim of producing a lot of meat, eggs and milk quickly and cheaply, maximizing profits. It is also used for the production of biodiesel, to make soybean oil (one of the most versatile natural oils), in the food industry to make milk, juice, vegan meat, among others.
Being such an important commodity for the world, it is clear that thousands of businessmen are constantly aware of its price. Currently, its price is around 600 dollars per ton, very close to its historical maximum (650 dollars in 2012). However, due to its significant changes over time, it is best to compare its price using charts. To perform this task, we will use Commodities-API.
What is Commodities-API?
Commodities-API started as a lightweight, basic open source API for current and historical commodity rates issued by banks and the stock exchange. It is a service with the ability to obtain real-time commodity data accurate to 2 decimal points and as fast as 60 seconds. That is, we will have updated soybean prices every 1 minute! Commodities-API obtains commodity price data from more than 15 sources, thanks to which this service has become synonymous with reliability and prestige. Banks and financial data companies are among the sources.
To get the soybean prices, you must first do the following:
1- You have to generate your own API key at “www.commodities-API.com“.
2- Look for the symbols of the soybean and currency you want to use, dollar, euro, Chinese yuan, etc.
3- After you select them, make the API call.
4- To create the charts, just click on the “charts” section and then fill with all the information we mentioned previously.
The website will give you an API in a variety of computer languages that you may modify and use in any way you see fit.
Also published on Medium.