Would you like to know what the current price of soybeans is but you don’t know where to look? Don’t worry any more, with this API you will be able to solve your problem. This is the best commodities rates API.
The soybean plant (Clycine max) has its origin in the central regions of China, where its cultivation began about six thousand years ago and from where it spread to the rest of the world. It is characterized by having a high nutritional value and, compared to other legumes, it contains a higher percentage of good quality proteins. In other words, it is a good resource to supplement food.
Processed soybeans are broken down into protein (meal) and oil. Soybean meal is used primarily in animal feed, but is also an ingredient in formaldehyde-free plastic compounds, synthetic fiber, paper coatings, and adhesives. For its part, soybean oil is one of the most versatile natural oils, given that its molecular structure and its suitable fatty acid profile can be easily modified for many applications.
In the last 4 years (counting the current 2022), soybeans suffered a price increase. In fact, since 2019, soy has not stopped growing and has accumulated an increase of 90%. Only this year the increase is 27%. For entrepreneurs who are dedicated to this market, it is very important to be very attentive to these increases, in order to find the best time to buy. For this, it is best to use an alarm, and what better than Commodities-API. Fortunately, this is the best system for soybeans price API.
Why should you use Commodities-API?
Commodities-API is one of the most important commodities rates tools in the world. Its main mission is to save you time and above all, money. Every minute, this API receives price information from more than 15 trusted data sources, such as banks and financial institutions. In addition, Commodities-API can deliver commodity data in real time with an accuracy of 2 decimal points and a frequency of up to 60 seconds. Thanks to all these features previously mentioned, you will be able to analyze the prices of previous years, compare them with other commodities and draw conclusions about when is the best time to buy soybeans.
Also, its website is visited by many developers, SMEs and large organizations. Companies like Barrick, Metex, Jewelers Mutual, are regular customers of this platform.
No matter what country you are from, Mexico, China, Japan, United States, Australia, India, Qatar, or any country in the world, you can get prices in Mexican pesos, Chinese yuan, Japanese yen, US dollars, Australian dollars, Indian rupees, qatari riyal, among others.
If you have any doubts or questions, you can send an email to the following address: [email protected]
Also published on Medium.