Did you know that wheat is one of the three most widely produced grains globally, along with corn and rice?
This grain is used to make flour, wholemeal flour, semolina, beer and a wide variety of food products, that is, highly marketable. Within the market, the main wheat producers are the United States, the European Union, India and China. But, at the end of 2021, a new producer appeared on the commercial scale: New Zealand.
It´s believed that by 2022, grain consumption would reach a record point (785 million tons), exceeding the previous historical maximum by 1.5%. The main use of the grain will be human and industrial consumption, demanding 81% of total consumption. This sounds interesting if your idea is to invest in a new producer like, New Zealand, that had a production peak in December 2021, breaking its own record with 16,791 kilos per hectare of wheat. But you also have to take into account the factors that can alter the statistics in the wheat rates. Some of them can be:
- Weather, droughts or floods can seriously affect the harvest
- Import and export policies of other countries’ businesses could also modify the conditions of the importing country
- World population rise could have impact on long-term agricultural commodity pricing, like wheat.
If you are really interested in entering the world of wheat trading, you also have to know that you have to be constantly checking the rises and falls of the rates of these commodities and choose wisely the currency in which you want to invest. To do this, we recommend using Commodities-API.
What Is Commodities-API?
It’s a platform that gathers global data prices in a range of currencies from various sources and organizations all around the world. Commercial sources are frequently preferable, especially for big currencies and commodities, like New Zealand Dollar and wheat.
Commodities-API originated as a modest, minimalist Open-Source API for financial institutions’ recent and historical commodities prices.
How Accurate Is It?
The API can provide real-time commodities data with a two-decimal-point precision and a 60-second frequency. Commodities-API is designed on a solid back-end architecture that guarantees high availability and response times for defined API requests of fewer than 50 milliseconds.
How Secure Is It?
The website encrypts your connection with bank-grade 256-bit SSL security.
Commodities-API is used by thousands of developers, small businesses, and huge organizations on a regular basis. Because of its solid data sources and 6+ years of expertise, this API is the most popular.
For more information, check their website.