Do you need commodities prices but don’t know where to find them? Well don’t worry, in the following article, we will tell you about an incredible tool that will surely be very useful to you. It is the best commodities rates API.
Commodities are called basic goods, those products destined for commercial use. They have as their most relevant characteristic, that they do not have any added value, are unprocessed, or do not have any differentiating characteristics concerning other products that we find in the market. For this reason, they are used as raw materials to make other goods. The Commodities market was born in the mid-seventeenth century, in Chicago, thanks to the farmers of that place who did business with their crops with different clients. As time went by, the farmers themselves continued to do their negotiations, but now they do it before harvesting and through large financial institutions.
There are different types of commodities, which are energy (oil, coal, natural gas, ethanol), industrial metals (copper, nickel, or zinc), and agricultural (wheat, corn, soybeans, coffee, sugar, rice, etc.) However, these products are affected by factors of various kinds, such as agricultural droughts, market tension, and economic slowdown, which could significantly affect the price. This is not a minor issue, in recent years, most raw materials have volatility that reaches 30% per year. A higher volatility means investors can have big profits or big losses.
When supply and demand are in balance, prices should hold. But for example, the war between Russia and Ukraine (an external factor), brought with it an increase in gas prices. For these reasons, it is important to be up to date with the news and constantly check the commodity market; which will help you save money. For these cases, we highly recommend using the Commodities-API service, which will help you in this task.
Why Commodities-API?
“Why should I use this service?”, you are surely asking yourself. What is special about Commodities-API? Well, first of all, you should know that thousands of developers, SMEs, and large organizations use it to know the prices of different raw materials such as wheat, rice, crude oil, and natural gas, among other commodities. It is the most reliable API on the market due to its data sources and its more than 6 years of experience. Many world renowned companies like Glencore, Changelly, or Chainlink are frequent users of this service. Thanks to more than 15 companies, such as financial data providers and banks, the information provided will be 100% reliable.
But before using this service, we recommend that you read the documentation on their website. This will help you understand how this system works and how to use it. In case you don’t want to read lengthy documents, Commodities-API also offers you a quick start tool to test all API endpoints with the click of a button.
Finally, the connection on this website is very secure. Commodities-API is encrypted using bank-grade 256-bit SSL encryption. This means that it uses the bank’s security system.
To access the website, go to the following link: https://commodities-api.com. If you have any problems, please contact customer service or send an email to [email protected]. The support team will be with you shortly. Urgent requests are usually handled within minutes.