Did you know that corn is a highly tradable product? Are you interested in investing in this corn? Read this article about how to use an API to invest in the market by analyzing the metrics!
Corn is the world’s third-largest plant-based food source. Despite its importance as a staple meal in many regions of the globe, maize is nutritionally inferior to other cereals. Corn flour, unlike many other cereal grains, is gluten-free and cannot be used to produce rising breads on its own. Masa, a type of dough used in basic meals such as tortillas, arepas, and tamales, is widely utilized in Latin American cuisine.
Corn is one of the most prolific and widely planted crops on the planet. It is widely farmed as a source of food for people and cattle, as well as a biofuel and a raw material in industry. Corn is the most important grain in the world in terms of production volume. Corn output in 2021/2022 was estimated to be approximately 1.2 billion metric tons. With about 384 million metric tons of maize produced that year, the United States was by far the largest corn producer in the world.
Many countries in the world produce corn, including Canada. Although this country has, for the most part, a large production of wheat. It is also a country that imports large amounts of corn for fuel uses to the United States and China. In fact, at the beginning of 2022, the province of Manitoba, one of the most agricultural provinces in Canada, produced a total of 8.4 million tons of corn.
Economic experts in Canada use different analytical measures to keep up to date with corn prices on the stock market. To do this, they use the Commodities-API platform.
What Is Commodities-API?
Commodities-API is a website that offers the use of an API, which is computer software that collects data on the pricing of items and currencies all over the globe, such as coffee, corn, wheat, rubber products, and fuels, among other things. This platform’s benefits include being open and free, as well as having a result timeout of less than a minute and data accuracy of two decimal places.
It’s Easy To Use?
Yes, it´s! You just have to follow these steps:
- Create an account on the Commodities-API website.
- Obtain an API-key which is a unique key for each user.
- Select the currency (CAD) and commodity (CORN) of your desire
Where Is The Information Obtained?
Commodities-API it is a secure site and obtains its financial data from banking entities, including the World Bank. This data is not minor since it gives security to the client. It is also an encrypted site with SSL encryption so the user does not have to worry.