Eficiência e razão de hedge: uma análise dos mercados futuro brasileiros de boi, café, etanol, milho e soja

This research aims to investigate the Hedge Efficiency and Optimal Hedge Ratio for the future market of cattle, coffee, ethanol, corn and soybean. This paper uses the Optimal Hedge Ratio and Hedge Effectiveness through multivariate GARCH models with error correction, attempting to the possible phenomenon of Optimal Hedge Ratio differential during the crop and intercrop period. The Optimal Hedge Ratio must be bigger in the intercrop period due to the uncertainty related to a possible supply shock (LAZZARINI, 2010). Among the future contracts studied in this research, the coffee, ethanol and soybean contracts were not object of this phenomenon investigation, yet. Furthermore, the corn and ethanol contracts were not object of researches which deal with Dynamic Hedging Strategy. This paper distinguishes itself for including the GARCH model with error correction, which it was never considered when the possible Optimal Hedge Ratio differential during the crop and intercrop period were investigated. The commodities quotation were used as future price in the market future of BM&FBOVESPA and as spot market, the CEPEA index, in the period from May 2010 to June 2013 to cattle, coffee, ethanol and corn, and to August 2012 to soybean, with daily frequency. Similar results were achieved for all the commodities. There is a long term relationship among the spot market and future market, bicausality and the spot market and future market of cattle, coffee, ethanol and corn, and unicausality of the future price of soybean on spot price. The Optimal Hedge Ratio was estimated from three different strategies: linear regression by MQO, BEKK-GARCH diagonal model, and BEKK-GARCH diagonal with intercrop dummy. The MQO regression model, pointed out the Hedge inefficiency, taking into consideration that the Optimal Hedge presented was too low. The second model represents the strategy of dynamic hedge, which collected time variations in the Optimal Hedge. The last Hedge strategy did not detect Optimal Hedge Ratio differential between the crop and intercrop period, therefore, unlikely what they expected, the investor do not need increase his/her investment in the future market during the intercrop

Atividades Biológicas De Xilana De Sabugo De Milho

The corn cob is an agricultural by-product still little used, this in part due to the low knowledge of the biotechnological potential of their molecules. Xylan from corn cobs (XSM) is a polysaccharide present in greater quantity in the structure of plant and its biotechnology potential is little known. This study aimed to the extraction, chemical characterization and evaluation of biological activities of xylan from corn cobs. To this end, corncobs were cleaned, cut, dried and crushed, resulting in flour. This was subjected to a methodology that combines the use of alkaline conditions with waves of ultrasound. After methanol precipitation, centrifugation and drying was obtained a yield of 40% (g/g flour). Chemical analysis indicated a high percentage of polysaccharides in the sample (60%) and low contamination by protein (0.4%) and phenolic compounds (> 0.01%). Analysis of monosaccharide composition indicated the presence of xylose:glucose:arabinose:galactose:mannose:glucuronic acid in a molar ratio 50:20:15:10:2.5:2.5. The presence of xylan in the sample was confirmed by nuclear magnetic resonance (¹H and ¹³C) and infrared spectroscopy (IR). Tests were conducted to evaluate the antioxidant potential of XSM. This showed a total antioxidant capacity of 48.45 EAA/g sample. However, did not show scavenging activity of superoxide and hydroxyl radical and also reducing power. But, showing a high capacity chelating iron ions with 70% with about 2 mg/mL. The ability to XSM to influence cell proliferation in culture was also evaluated. This polymer did not influence the proliferation of normal fibroblast cells (3T3), however, decreased the rate of proliferation of tumor cells (HeLa) in a dose-dependent, reaching an inhibition of about 50% with a concentration around 2 mg/mL. Analyzing proteins related to cell death, by immunoblotting, XSM increases the amount of Bax, Bcl-2 decrease, increase cytochrome c and AIF, and reduce pro-caspase-3, indicating the induction of cell death induced apoptosis dependent and independent of caspase. XSM did not show anticoagulant activity in the PT test. However, the test of activated partial thromboplastin time (aPTT), XSM increased clotting time at about 5 times with 600 μg of sample compared with the negative control. The presence of sulfate on the XSM was discarded by agarose gel electrophoresis and IR. After carboxyl-reduction of XSM the anticoagulant activity decreased dramatically. The data of this study demonstrate that XSM has potential as antioxidant, antiproliferative and anticoagulant compound. Future studies to characterize these activities of XSM will help to increase knowledge about this molecule extracted from corn and allow their use in functional foods, pharmaceuticals and chemical industries.

Desenvolvimento de bioblendas poliméricas a partir de gelatina bovina e de tilápia com amido de milho

The natural raw materials acquired special importance beside the mineral raw materials with the need for using alternative sources to oil, because they can be used to produce biopolymers. Gelatin, produced from the denaturation of collagen, and starch, an abundant polysaccharide in various plants, are examples of biopolymers which have several technological applications, especially in films. The objective of this work is to produce polymeric bioblends with gelatin and corn starch using two types of gelatin: commercial bovine gelatin and gelatin produced from mechanically separated flesh of tilapia (Oreochromis niloticus). For the extraction of tilapia gelatin 3 distinct pretreatments, followed by extraction in distilled water under heating were performed. The properties of gelatin extracted were similar to bovine gelatin, and the differences can be explained by the difference in extraction processes and sources. Blends of commercial gelatin and starch were produced in an internal mixer from a Haake torque rheometer, to study the behavior of the gelatin mixture with starch, thus, the same compositions were processed by twin screw extrusion, to define the mixing parameters. Subsequently, the extrusion of blends of tilapia gelatin and corn starch was carried out in the same twin screw extruder. The physico-chemical, rheological and morphological properties of the blends with thermoplastic starch and gelatin were studied. It was found that various properties vary linearly with increasing concentration of the components. The blends produced are immiscible, and among the two gelatins, tilapia gelatin showed a better interfacial adhesion with the corn starch. Regarding the morphology, gelatins formed the dispersed phase in all compositions studied, even in compositions rich in starch. Can be concluded that the procedure for tilapia gelatin extraction is feasible and advantageous, and the increasing in its scale to a reactor of 30 liters is possible, with a satisfactory yield. The bioblends of bovine gelatin/corn starch and tilapia gelatin/corn starch were successfully produced, and the processing conditions were appropriate

Auta de Souza, a poeta de pele clara, um moreno doce : memória e cultura da intelectualidade afrodescendente no Rio Grande do Norte

In the first half of the twentieth century different groups of intellectuals were engaged in the pursuit of an ideal of Brazility. Thereon, two currents are perceived. The first was marked by a nostalgic bias about the past, being formulated by intellectuals from the region that was turning as Northeast. This group of intellectuals emphasized values and traditions of the agrarian aristocracy of the region that was losing visibility in the political and economic Brazil scene. Already the other current has a more modern and industrial feature, was formed by intellectuals from the Southeast that in detriment of the first, was rising. This group, on the other hand, was intended to give a new face to Brazil and break with the "roots" of our delay that in their view were linked to our agrarian past. This resulted in different perceptions and interpretations of our historical past, and the construction of different profiles to the Brazilian. Accordingly, our work seeks to understand how was produced the writing that silenced the mixed ancestry of Auta de Souza (1876-1901) considering the position that she should occupy in the intellectuals projects who were in charge of forming a memory for our state. Auta as a relevant historical character in this project of potiguares intellectuals, she was raised to the condition of a model woman and elected in the pantheon of the most beloved poets of Rio Grande do Norte, however, to occupy such prestigious position she had her racial ancestry concealed in the writings that these same intellectuals had written about her, what is still spreaded in memory and rituals places of religious and civic features

Comportamento do camarão de água doce macrobrachium rosenbergii (De Man, 1879) em cultivos misto e monossexo

Understanding the behavioral activities of freshwater shrimp in captivity is of paramount importance for the appropriate management of the species. In Brazil, the shrimp Macrobrachium rosenbergii is currently the most widely used species in the freshwater shrimp culture due to its high potential for cultivation and good market acceptance. Thus, the present study aimed to describe and characterize the behavioral activities of M. rosenbergii in monosex and in mixed (male and female) (manuscript 1, 2 and 3) populations and the growth performance of this species in restrictive feeding conditions and in different feeding management (manuscript 4 and 5, respectively) . Juvenile and adult shrimps were collected from ponds of the Aquaculture Station - Unidade Especializada em Ciências Agrárias - Universidade Federal do Rio Grande do Norte (UFRN), Macaíba/RN and then transferred to the Laboratório de Estudos do Comportamento do Camarão LECC (Laboratory for Shrimp Behavioral Studies) of the Universidade Federal do Rio Grande do Norte (UFRN). For each treatment , eight aquaria of 250 L (50 cm x 50 cm x 100 cm) were used in a closed recirculating water system with artificial lighting, constant aeration , continuous filtration through a biochemical and biological filter (canister filter), and fine sand as substrate . The water quality was monitored daily. The lab consisted of two rooms with artificial lighting system , controlled by a timer with dark / light cycle of 12:12 h . In manuscript 1, the behavioral categories of the species were presented through an ethogram, which described 31 behaviors, subdivided into general and agonistic behaviors. Manuscript 2 compared the behavioral profile of shrimps in male and in female monosex and mixed populations over 24 hours in laboratory. In three types (mixed, male monosex and female monosex) of populations during the light and dark phases of the 24 hour cycle, the shrimps showed higher occurrence of cleaning behavior. Manuscript 3 examined the influence of the color of the shelter on the frequency of its use and behavioral activities of shrimp in mixed, in male monosex and in female monosex populations over 24 hours. We observed that the shrimp M. rosenbergii burrow more frequently during the light phase in male monosex and mixed populations; they also tend to choose the black shelters. Female monosex populations tend to use red and orange shelters. In manuscript 4, we evaluated in laboratory the behavioral activities and growth performance of juvenile shrimps under food restriction. We observed that a mild food restriction may be used since there is no loss concerning the growth of the animals; feeding management on alternate days , compared to daily management can be financially productive both reducing labor costs and reducing the amount of feed used . Manuscript 5 evaluated the behavior of shrimps in monosex and in mixed populations, as well as the latency of reach the food according to feed offer (tray or food dispersal) . Our results indicate that animals adjust to both types of feed offer food dispersal as much as tray, but they spend more time to reach the feed when it is offered in trays (feeders). Comparing culture types (mixed, male monosex and female monosex), the latency to reach the food was lower for female monosex population. The data obtained in this study demonstrate the importance of identifying different pressures and environmental stimuli on the behavioral responses of this species. This knowledge would support management improvement to optimize the levels of animals‟ welfare, resulting in a better zootecnical performance

Horticultura no baixo curso do Rio Doce, zona norte do Natal/RN: avaliação da qualidade da água por meio de ensaios ecotoxicológicos

The research is developed in areas of horticulture in the city of Natal, in the neighborhoods of Lagoa Azul, Pajuçara and Redinha, along the Doce River, border area with Extremoz city, Rio Grande do Norte State. The region of the fluvial plain of Doce River is located in an Environmental Protection Zone (ZPA-9). This is one of the ZPA which is not under the regulatory marks and there are several environmental problems caused by use and land occupation, featuring an evident disregard of environmental laws and whose protection is hindered by the lack of specific legal mechanisms. This study aims to provide an overview of the use of pesticides in the lower course of the Doce River, in Natal, Rio Grande do Norte, and to assess environmental degradation in the area through chronic toxicity tests using the microcrustaceous Ceriodaphnia dubia Richard 1894 (Cladocera, Crustacea) as test organism. Visits were made to the area in 2009 and 2010. To obtain information a diagnosis of the local situation was accomplished based on personal observation and non-participatory photographic record, with the aim of assessing the environmental characteristics, population diversity and work processes of horticulturists. During the visits four different points of the Doce River were chosen to collect water for ecotoxicological tests and survey of physico-chemical parameters (dissolved oxygen, pH, chloride, turbidity, conductivity and temperature), which were measured in the field using Multiparameter Probe (TROLL 9500). The adverse effects of pesticide use in the lower course of the Doce River is a major problem for both the environmental and human health, since many of the substances and active principles that enter in the composition of the products are synthesized molecules whose effects can only be evaluated through different studies on their actions and behavior at short, medium or long term

Processos sócio-ambientais relacionados às situações de degradação na região do Rio Doce, Natal/RN

Natal is a medium-sized coastal city (800.000 inhabitants), capital of the State of Rio Grande do Norte, in the Northeast of Brazil. According to statistics published by the IBGE (2000), the area of Natal that stretches from Redinha to Lagoa Azul holds about 12% of the municipal population. Part of this area is bordered by a watercourse, the Rio Doce, which has been afflicted by a range of socio-environmental problems over the years. This study was carried out with the aims of 1) identifying the socio-environmental processes related to urban expansion, with an emphasis on those causing environmental degradation in this region; b) analysing the perception of the target population in relation to the environment it occupies; and c) determining the socioeconomic profile of the local residents and the sanitary facilities available to them. A survey was carried out by conducting interviews and completing questionnaires with the residents to assess the situation both qualitatively and quantitatively in the communities of Caiana, Pajussara Sítio, Gramoré Povoado and Gramoré Sítio, as well as by conducting bibliographical and documentary research. It was discovered that the sanitary conditions of the riverside dwellers are precarious and only 1% of the houses in the suburbs mentioned are connected to the public sewers. It was established that the Rio Doce is intensively exploited through the extraction of sand for the building trade, irrigation of riverside vegetable plots and use of the water for bathing, washing of clothes and leisure. It was also found that about 40% of the population resident in this area has migrated from the rural zone, which is one of the factors rendering it difficult for them to adapt to the urban setting. Such information can be of use to the authorities in the environmental planning of these districts and their sustainable development