Wheat cultivation dates back over 10,000 years, arriving in the United Kingdom around 5,000 years ago. Wheat flour was first made for the first time in the 12th century. But by the beginning of the 19th century, wheat had become the UK’s most important grain farmed for human use.
Indeed, this cereal is consumed all over the world, but its uses are not limited to human nutrition. In actuality, wheat used in the agro-alimentary business accounts for just about 58 percent of overall wheat production. A considerable portion of the wheat cultivated is employed to make biofuels or other industrial products.
Where Is It Cultivated?
Wheat-producing countries can be found all over the world, but the European Union produces the most, followed by China, India, the USA, Russia, and Canada.
Because of its importance and wide applications around the world, this commodity tends to be an unstable asset.
Signals Before Investing
Many factors can help wheat traders predict the trend’s direction throughout the medium to long term. The following are the factors that have the greatest impact on the price:
- The factors to consider in your analysis of the wheat rate are, of course, supply and demand.
- The meteorological conditions have a direct impact on the level of production.
- Stock levels, which will be compared to supply and output numbers.
- The various countries’ business policies, such as aid with import or export and the degree of tax.
- Lastly, the growth of the global population is a secondary strong element that affects the long-term price of agricultural commodities such as wheat and other cereals.
To sum up, there is an online software to keep track of wheat and other commodities rates at Commodities-api.com
What Is It?
This web API provides precise rate data for a wide range of commodities in several currencies.
Commodities-API debuted as a modest, minimalist Open-Source API for financial institutions’ recent and historical commodity prices.
With an accuracy of two decimal points and a frequency of up to every 60 seconds, the API can deliver real-time commodity data. Commodities-API is built on top of a solid back-end infrastructure that ensures high availability and response times of less than 50 milliseconds for specified API calls. Features include delivering commodity exchange rates, converting single currencies, and returning Time-Series and Fluctuation data.
To protect your connection, the Commodities-API uses bank-grade 256-bit SSL encryption.
Commodities-API is used by thousands of developers, small businesses, and huge corporations on a daily basis. Because of its dependable data sources and 6+ years of experience, our API is the most popular resource for commodity rates.
Also published on Medium.