Are you looking for recognizable soybean prices data? Here, we recommend an API with information from CME Group.
During the COVID-19 pandemic, supply chain problems caused by trade restrictions damaged the soybean market. These factors have resulted in a lower output of soybean by-products such as meal, oil, and cake, which has had an impact on the soybean market. The United States, Brazil, Argentina, Canada, Paraguay, and Uruguay are the world’s top soybean growers and exporters, accounting for more than 85.0 percent of worldwide output.
Having all of these factors in mind, if you want to invest in the soybean market you must be updated about the live prices and watch the fluctuation of the values. With this data, you can analyze and choose the best moment to invest. Not all the information in the network provides trustworthy data. You have to acquire it from a recognized institution such as CME Group.
But, What Is CME Group?
The Chicago Mercantile Exchange (CME), sometimes called the Chicago Merc, is a regulated futures markets exchange in Chicago, Illinois. Agriculture, energy, stock indices, foreign exchange, interest rates, metals, real estate, and even weather are among the industries in which the CME trades futures in most cases. To collect information from this source, you should use an API. It allows you to be updated about the soybean values every day.
What Is An API?
An Application Programming Interface (API) is a technology that allows two or more devices to send information between them. It’s utilized by many websites that also share this information with viewers because you can integrate the API to your app or web page.
In this case, you could use one with historical and current data on commodities. We recommend Commodities-API for this purpose. It updates information in real-time on several materials.
About Commodities API
Commodities-API is a service that allows you to follow the prices of a range of commodities, including soybeans. You’ll be able to forecast prices and convert them into your selected currency in this manner.
Commodities-API is a software tool that collects and authenticates data from banks and the stock market. The data is returned to you with a precision of 2 decimal points and in many programming languages once you submit an API call. Furthermore, this application uses bank-grade 256-bit SSL encryption to secure your connection.