In this post, we’ll explore the best API to stay informed about wheat future rates. If you’re wondering how to get this information, we have you covered.
Wheat is one of the most important grains in the world. It is used in many different ways, such as bread and pasta, and it is also used to make beer and whiskey. Wheat is an important part of a balanced diet because it is high in fiber and protein. It also contains vitamins and minerals that are important for good health. Wheat is grown in many different parts of the world, including North America, Europe, Asia, and Africa. In recent years, there has been a rise in global demand for wheat because of the growing population and the increasing popularity of wheat-based products such as bread, pasta, and cakes.
Automatic information sharing and communication between two different systems is made possible through a communication interface known as an API. In this case, we want to make advantage of an API that offers real-time data on wheat futures pricing. For this, we suggest utilizing a WFM Prices API, which offers simple access to information on a variety of commodities, including wheat, from all around the world.
With the aid of these technologies, wheat growers and buyers can control their risk in the event that wheat prices increase or decrease. They also make it possible for farmers to sell crops before they are even sown. This allows them to guarantee a set wage for their labor.
Yet, it also makes it possible for investors to estimate the price of wheat and its derivatives. This financial product is very well-liked since it allows for investments in a variety of commodities, including maize and soybeans.
There are numerous APIs that provide real-time quotes for wheat futures. Yet not all of them are dependable or simple to use. We will expose you to the greatest API for future rates in this article.
Commodities API
The Commodities API, which is supported by more than 10 different exchange rate data sources for commodities pricing, may provide real-time precious commodities data. The API offers a number of endpoints, each of which serves a particular purpose. The endpoint can convert values, receive time-series data for one or more currencies, get the most recent commodity rate information for all or a specific group of currencies, and query the API for information on daily variations.
This is the kind of response you will get from this API depending on the commodity you’re looking for in this situation where we’re seeking to get the Wheat Futures pricing in May 2023:
{"data":{"success":true,"timestamp":1681349280,"date":"2023-04-13","base":"USD","rates":{"ZWK23":0.0014814814814815}}}
According to the response, 1 $ is equal to 0.0014814814814815 grams of wheat, as you can see.
All You Have To Do To Utilize It Is:
- Go to Commodities API and simply sign up, when you are done you’ll be ready to start using the API!
- Employ the different API endpoints using the symbols given by the API depending on what you are looking for.
- Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.
A handful of the commodities whose prices are displayed using this API are wheat, rice, coffee, and sugar. Price information is instantly received from about 15 trustworthy data sources, including banks and other financial institutions. Moreover, Commodities-API offers data with a precision of two decimal places in over 170 different currencies. Depending on the subscription you choose, you can submit up to 100.000 API queries per month and receive data updates every 60 seconds. This API is also available for a free week of testing.