Are you trying to get ethanol spot rates? Then use an API!
Ethanol fuel is a kind of energy derived from ethyl alcohol, the same alcohol found in alcoholic drinks. It is most typically used as a biofuel addition for gasoline as well as a motor fuel. Biomass, such as maize or sugarcane, is commonly utilized in the production of ethanol.
It is a product widely used and produced in Brazil, Europe, and the United States. Most cars on the road today in the United States can run on ethanol blends of up to 10%, accounting for 10% of all gasoline sold in the country. Some flexible-fuel cars are capable of running entirely on ethanol.
With this, you can see how important this product is nowadays, which can make its price vary almost every day. There are also a few factors that provoke this:
- Prices of Crude Oil and Gasoline
- Costs of Production
- Stocks
- Ethanol Requirements
- Logistics of Transportation
So, if you want to get into the investment world of ethanol, you’ll have to stay updated on its rates almost every hour. This could be hard since it’s an industry that moves quickly, but it’s nothing impossible to achieve. To do this, we highly recommend using an API.
What’s An API?
This is technology used all around the world that gives you information about something you wish to know by connecting two computers or applications and letting them communicate. When you send a request to an API, it will give you an instant response. This is used for many different things and can be key to keep your investments growing.
To use this, you’ll have to find a software that can give you access to the API. There are a few of these online, but you should be careful with which one you use, since not all of them work the same way or give the same response.
To help you save time and money, we highly recommend you use Commodities-API, one of the most useful tools available for commodities rates.Every minute, this API pulls pricing data from over 15 credible data sources, including banks and financial data.
To use it, you need to:
- Visit get started, go to www.commodities-API.com. After that, you will be given your personal API key.
- Look for ethanol as well as the monetary symbols of your choosing.
- Locate the commodity and money in the list using these symbols. Make the API call after you’ve decided on them.
- The website will give an API in a number of computer languages, which you will be able to edit, utilize, and adapt as needed.
The result will look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "ETHANOL",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
More About This API
Commodities-API can supply real-time commodities data with an accuracy of 2 decimal points and a frequency of up to 60 seconds. Delivering exchange rates for nearly any commodity, Precious Metals, converting single currencies, providing Time-Series data, and volatility data are all capabilities.
Rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and many other commodities are supported. This API can provide accurate commodities and exchange rate data for nearly any commodity, 170 international currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.