Not only can you work with the most common types of commodities, such as oil and gold, but also with less known such as cocoa and soybeans.
Also, they have the ability to give us an overview of how the global economy is doing. This information is useful for a lot of different reasons. For example, to see which projects are doing better or worse than others. Also, to see what products have a higher demand than others, so that we can better invest our money into them. Or even if you are just curious about the market, then knowing about it can be helpful for you on your own. For all of those reasons, it is important for you to understand this market. The good news is that you don’t need to be an economic expert to get your hands on all this information. All you have to do is take advantage of APIs. What Are APIs? Basically, they are a bridge between two programs that allow them to communicate with each other in real-time. In this way, one can request data and the other will answer it. And since they work so well with computers, they usually work in JSON format. If you want more information on this market, check Commodity And Price API! This API has the best data on the market and works in JSON format! Check it out right now! What Are Commodity Rates? Commodity Rates are among the pieces of financial information that allow investors and institutional traders to determine trends in the global economy. They view commodity prices as an indicator of economic health or weakness because commodity prices are influenced by global financial conditions. The most common commodities that generate revenue include: -Metals (copper, silver, gold, etc.) -Agricultural products (corn, wheat, sugar, etc.) -Energy products (oil and natural gas) –Commodities – futures contracts have future delivery dates Before going into extra detail on what commodity rates actually are and how investors use them to make money; we must first understand what futures contracts are and how they work… Understanding Futures Contracts A futures contract is an agreement between two parties to buy
Check different Commodity rates with this API. Get the latest price, prices per date, open, close, and much more.
To make use of it, you must first:
1- Go to Commodities API and simply click on the button “Subscribe for free” to start using the API.
2- After signing up in Zyla API Hub, you’ll be given your personal API key. Using this one-of-a-kind combination of numbers and letters, you’ll be able to use, connect, and manage APIs!
3- Employ the different API endpoints depending on what you are looking for.
4- Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.