Ethanol is a renewable, clean-burning gasoline additive produced from the fermentation of sugar cane and other renewable feedstocks. It decreases our dependence on foreign oil and its use significantly reduces greenhouse gases. These facts make ethanol a worthwhile topic of discussion, especially at this moment in history as we move from dependence on foreign oil to clean alternative fuels.
Ethanol prices and information is a major part of the energy market. Finding ethanol prices is not easy because there are many cities that offer ethanol and they don’t all offer the same price. If you look online you will find many different websites with different rates. The API controls the process to get the price data provided by banks and reliable traders.
What is an application programming interface (API)?
An API is a programmatic interface for getting data from a place and instantaneously providing it to you. This allows you and your customers to monitor corn prices at any time.
To acquire access to this, you’ll need to discover suitable software that includes an API for tracking commodity prices. This might be a challenging endeavor because not all software is made equal and cannot provide you with the information you need.
Commodities API
To save time and effort, we strongly urge you to use Commodities-API, one of the most helpful and comprehensive commodities rate tools currently accessible. Rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and a range of other commodities are supported by this platform.
Commodities-API began as a straightforward, lightweight Open-Source API for current and historical commodities rates from banks and stock exchanges. This API can give live commodity prices with a two-decimal-point precision and a 60-second frequency. Delivering exchange rates for virtually any commodity, precious metals, converting single currencies, providing Time-Series data, and volatility data are just a few of the features.
Furthermore, this application receives data from banks and the stock market via an API, making it entirely reliable. The data is then presented with two decimal places of precision and may be modified to JSON, PHP, and Python. Commodities-API also uses bank-grade 256-bit SSL encryption to secure your connection.
To make use of it, you must first:
- Go to www.commodities-api.com and sign in.
- Look for the symbols for Ethanol and your preferred currency.
- Insert them both and perform the API request once you have them.
- The software will provide you with many responses; look for the PHP one among them.
In PHP, the response will be something like this:
// set API Endpoint and API key
$endpoint = ‘latest’;
$access_key = ‘API_KEY’;
// Initialize CURL:
$ch = curl_init(‘https://commodities-api.com/api/’.$endpoint.’?access_key=’.$access_key.”);
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);
// Store the data:
$json = curl_exec($ch);
curl_close($ch);
// Decode JSON response:
$exchangeRates = json_decode($json, true);
// Access the exchange rate values, e.g. GBP:
echo $exchangeRates[‘rates’][‘GBP’];
Also published on Medium.