Do you wish to obtain commodities spot rates API with data from Minneapolis Grain Exchange? You should read this post because here we’ll explain how to acquire it.
If you are in the Wheat market or you use it in your firm, you have to be updated for the most reliable prices sources to be competitive. But what is Minneapolis Grain Exchange? Why is it so important?
About Minneapolis Grain Exchange
The Minneapolis Grain Exchange (MGEX) is a wheat products and contracts exchange. It was established in 1881 in Minneapolis, Minnesota, as a local cash marketplace to encourage fair deals and eliminate trade abuses in wheat, oats, and maize.
From 1881, MGEX was the primary market for Hard Red Spring Wheat (HRSW), offering futures trading contracts on the commodity. HRSW is one of the most protein-dense kinds of wheat. It may be found in bagels, pizzas, premium bread, and cereals, as well as certain noodles and cookies. It is mostly cultivated in the Northern Plains of the United States and the Canadian Prairies.
MGEX provides five economically traditional rural index goods: the Hard Red Spring Wheat Index (HRSI), the Hard Red Winter Wheat Index (HRWI), the Soft Red Winter Wheat Index (SRWI), the National Corn Index (NCI), and the National Soybean Index (NSI) (NSI).
You can collect data from this source by using an API. An Application Programming Software is an interface that allows two machines (cellphones, ATMs, computers, and so on) to interact and send information between them. You will be surprised about the amount of apps and webpage that use it, for example in a online banking to watch information of your bank account or in the journal where you watch the climate. Deverlopers use the API to design it.
In this case, you neeed an API that updates and shows the fluctuation of the commodities prices to help you and the users of your websites and application to invest better. Nevertheless, not all of the APIs available in the network provide serious trustworthy data, so to invest in the wheat market you must use Commodities-API.
About Commodities-API
Because it is designed for developers, the Commodities API makes it easy to integrate it into your app or page. It includes detailed API documentation, intuitive code illustrations, and a simple API structure that will enable you to incorporate the API in less than 10 minutes.
Day after day, thousands of developers, SMBs, and huge organizations such as Glencore utilize Commodities-API. This API receives information from reliable data sources. Our API obtains commodity data from financial data providers and banks, including the World Bank. It also has a dedicated Support team. Their world-class support crew is available 24 hours a day, 365 days a year.