Seeder-fertilizer machine: energetic demand as a function of vegetal covering handling and manure deposition shank depth in no-tillage system

The purpose of this work was evaluating the energetic demand of a seeder-fertilizer machine as a function of the type and handling of vegetal covering culture and of the fertilizer deposition shank depth. A Valtra BM100 tractor was used implemented to pull a high precision seeder-fertilizer machine with four ranks of seeding, spaced 0.9 m for maize culture. Experiment was conducted with design in randomized blocks in factorial plots, in the Laboratory of Machines and Agricultural Mechanization experimental area (LAMMA) of UNESP-Jaboticabal, using two covering cultures (black-mucuna and crotalaria), three handlings of this covering, two mechanical (straw crusher and roller knife) and one chemical (pulverization of herbicide), performed 120 days after seeding of covering cultures and three depths of fertilizer deposition shank, completing 18 treatments, with four repetitions, totaling 72 observations. Parameters of displacement speed, gliding, force on traction bar, peak force, power on pulling bar and fuel consumption were evaluated. It was possible to conclude that force on traction bar was less for depths of 0.11 and 0.14 m of fertilizer plough shank, the same occurring for peak force, power on traction bar and volumetric consumption. The specific consumption was lower at a depth of 0.17 m of fertilizer plough shank. Covering cultures and their handlings did not interfere in the performance of machines under inquiry.

GPS receivers for georeferencing of spatial variability of soil attributes

The characterization of the spatial variability of soil attributes is essential to support agricultural practices in a sustainable manner. The use of geostatistics to characterize spatial variability of these attributes, such as soil resistance to penetration (RP) and gravimetric soil moisture (GM) is now usual practice in precision agriculture. The result of geostatistical analysis is dependent on the sample density and other factors according to the georeferencing methodology used. Thus, this study aimed to compare two methods of georeferencing to characterize the spatial variability of RP and GM as well as the spatial correlation of these variables. Sampling grid of 60 points spaced 20 m was used. For RP measurements, an electronic penetrometer was used and to determine the GM, a Dutch auger (0.0-0.1 m depth) was used. The samples were georeferenced using a GPS navigation receiver, Simple Point Positioning (SPP) with navigation GPS receiver, and Semi-Kinematic Relative Positioning (SKRP) with an L1 geodetic GPS receiver. The results indicated that the georeferencing conducted by PPS did not affect the characterization of spatial variability of RP or GM, neither the spatial structure relationship of these attributes.

Spatial variability of soil physical properties in two management systems in sugarcane crop

The aim of this study was to characterize the spatial variability of soil bulk density (Bd), soil moisture content (θ) and total porosity (Tp) in two management systems of sugarcane harvesting, with or without burning, in a Haplustox soil, in the 0-0.20 m layer. The study area is located in Rio Brilhante, state of Mato Grosso do Sul, Brazil, in Eldorado Sugar Mill. The plots have presented 180 m length, and 145.6 m width, totaling 90 points distributed in the form of a grid of nine rows by ten columns, with points spaced 20 m from its neighbor. Soil samples were collected at 0-0.20 m layer in 2007/2008 and 2008/2009 crops. The harvest with burning system had a higher density compared to mechanized harvest, in the two study periods. The moisture content as well as the porosity increased proportionally with the decrease of the density of the harvest burning system compared to the mechanized.

Evapotranspiration and crop coefficient of drip irrigated watermelon in Piaui coastline, Brazil

The knowledge of the evapotranspiration (ETc) and crop coefficient (Kc) is fundamental to plan and to manage the irrigation of any crop. The aim of this study was to determine the daily and hourly evapotranspiration of drip irrigated watermelon (Citrullus Lanatus, var. Crimson Sweet) and crop coefficient (Kc) in each crop development phase. The experiment was carried out in an experimental area of 1.27 ha of Embrapa Mid-North, localized in Parnaíba (02°54'S, 41°47'W and 46 m above of sea), State of Piauí, Brazil, from September to November, 2006. Electronic weighing lysimeters of 1.5 m x 1.5 m wide and long and 1.0 m deep were used to obtain the evapotranspiration. The plants were drip irrigated with a lateral row per plant row and drippers spaced 0.5 m from each other. The reference evapotranspiration (ETo) was estimated using the Penman-Monteith equation from the climatic data obtained by electronic sensors. The total evapotranspiration during the watermelon crop cycle cultivated in the state of Piauí was 233.87 mm, with mean values of 3.7 mm day-1, minimum of 1.18 and maximum of 8.14 mm day-1. The Kc of the drip irrigated watermelon was 0.18 in the initial stage of crop growth; 0.18 to 1.3, in crop development stage; 1.3 in the intermediate stage and 0.43 in the final stage.

Economic optimization method to design telescope irrigation of multiples outlets

In this study is presented an economic optimization method to design telescope irrigation laterals (multidiameter) with regular spaced outlets. The proposed analytical hydraulic solution was validated by means of a pipeline composed of three different diameters. The minimum acquisition cost of the telescope pipeline was determined by an ideal arrangement of lengths and respective diameters for each one of the three segments. The mathematical optimization method based on the Lagrange multipliers provides a strategy for finding the maximum or minimum of a function subject to certain constraints. In this case, the objective function describes the acquisition cost of pipes, and the constraints are determined from hydraulic parameters as length of irrigation laterals and total head loss permitted. The developed analytical solution provides the ideal combination of each pipe segment length and respective diameter, resulting in a decreased of the acquisition cost.

Erosion factors and magnetic susceptibility in differet compartments of a slope in Gilbués-PI, Brazil

The erosion is the degradation of soil with effects on crop productivity and pollution of the environment. To understand the spatial variability of this phenomenon, geostatistical techniques and concepts of soil-landscape can be used to identify landscape compartments with different potential of erosion. The aim of this study was to understand the factors of erosion in landscape compartments and the relations with the magnetic susceptibility (MS) of the soils in a slope in Gilbués, state of Piauí (PI), Brazil. Sampling meshes were set in compartments I and II with 121 points and in compartment III with 99 points spaced every 10 meters. There was significant difference to erodibility (K) and risk of erosion (RE); the spatial variability of MS was lower than the factors of soil erosion. The soil losses (A), the natural erosion potential (NEP), the RE and the MS had spatial relation with the topographic factor, indicating dependence of the erosion with the relief. We concluded that losses of soil, natural erosion potential and risk of erosion have spatial relation with the topographic factor, showing the dependence of the erosion factors with the relief. The soil magnetic susceptibility can be used as an auxiliary variable in the indirect quantification of the erodibility factor and the risk of soil erosion.

Water storage in wetted strips under irrigated coffee trees with different criteria of irrigation management

The increasing demand for water resources accentuates the need to reduce water waste through a more appropriate irrigation management. In the particular case of irrigated coffee planting, which in recent years presented growth with the predominance of drip irrigation, the improvement of drip irrigation management techniques is a necessity. The proper management of drip irrigation depends on the knowledge of the spatial pattern of soil moisture distribution inside the wetted strip formed under the irrigation lines. In this study, grids of 24 tensiometers were used to determine the water storage within the wetted strip formed under drippers, with a 3.78 L h-1 discharge, evenly spaced by 0.4 m, subjected to two different management criteria (fixed irrigation interval and 60 kPa tension). Estimates of storage based on a one-dimensional analysis, that only considers depth variations, were compared with two-dimensional estimates. The results indicate that for high-frequency irrigation the one-dimensional analysis is not appropriate. However, under less frequent irrigation, the two-dimensional analysis is dispensable, being the one-dimensional sufficient for calculating the water volume stored in the wetted strip.

Soil water potential during different phenological phases of coffee irrigated by center pivot

Irrigation management can be established, considering the soil water potential, as the limiting factor for plant growth, assuming the soil water content between the field capacity and the permanent wilting point as available water for crops. Thus, the aim of this study was to establish the soil water potential interval during four different phenological phases of coffee irrigated by center pivot. The experiment was set at the experimental area of the Engineering Department at the Federal University of Lavras, in Brazil. The coffee variety planted is designated as Rubi, planted 0.8 meters apart, with rows spaced 3.5 meters apart. The treatments corresponded to the water depths applied based on different percentages of Kc and reference evapotranspiration (ET0) values. Sensors were used to measure the soil water potential interval, installed 25 centimeters depth. In order to compare the results, it was considered as the best matric potential the one that was balanced with the soil water content that resulted in the largest coffee productivity. Based on the obtained results, we verified that in the phases of fruit expansion and ripening, the best results were obtained, before the irrigations, when the soil water potential values reached -35 and -38 kPa, respectively. And in the flowering, small green and fruit expansion phases, when the values reached -31 and -32 kPa, respectively.

Technical and economic analysis of irrigation of asparagus bean in protected environment

This experiment was conducted in Lavras - state of Minas Gerais (MG), Brazil, in a protected environment, and aims to estimate the irrigation depths that maximize productivity and economic returns in the cultivation of asparagus bean and analyze the economic viability of irrigation management. The experimental delineation was randomized blocks with five treatments and four replications. The treatments consisted of five drip irrigation depths: 40, 70, 100, 130 and 160% of water replacement depth up to field capacity. The depths of water that maximize productivity and economic returns were obtained from the regression model adjusted to productivity data, cost of product relations and water cost. The economic viability was achieved on the benefit/cost ratio basis. The depth with the maximum economic return was estimated in 434.4mm, with a productivity of 35,160.6kg ha-1, which is economically viable for the cultivation of asparagus bean, with a expected profitability of R$ 1.70 for every real invested.

Quality of papaya hybrid grown under different irrigation depths

Irrigation is a practice widely used in fruit production in the Brazilian Northeast region, including in the papaya crop in order to increase their productivity. For the purpose of knowing the productive potential of papaya hybrid irrigated, an experiment was carried out in order to evaluate the performance of a papaya hybrid under different irrigations depths. Four irrigation depths (50, 75, 100 and 125% of ETo) were tested and the reference evapotranspiration was calculated by the Penman-Monteith model. The hybrid papaya used was UENF/Caliman 01, which was planted in single rows, spaced 4 x 2m from each other, and irrigated by dripping. The experimental design in randomized blocks was used with six replications and three plants per plot. The following variables were evaluated: transversal diameter, longitudinal diameter, pulp thickness, external and internal appearances, soluble solids, titratable acidity, pulp pH and soluble solids/titratable acidity relation. The higher transversal and longitudinal diameters of the fruit were obtained applying an irrigation depth of about 108% of evapotranspiration. The UENF/Caliman 01 hybrid can be cultivated in the semiarid region of the State of Paraiba, Brazil, with replacement rate of 100% ETo, without compromising the quality of the fruits.

Potassium distribution in drip irrigation with fertigation for different injection distances in the main line

The purpose of this research was to evaluate the K2O distribution uniformity by surface drip irrigation at Universitat Politecnica de Valencia, Valencia, Spain (39º 29′ N, 0º 23′ W, 20 m). The irrigation was performed by drip lines with not-compensated emitters, spaced 0.3 m. The fertigation was realized using a fertilizer injector pump of electric action with injection of 0.25 h. The experimental design used completely randomized blocks with five treatments and four replications. The treatments consisted of injection in five distances, located at 10; 20; 30; 40; 50 m of the first drip line. Samples were collected in emitters located at the start, at 1/3, at 2/3 and at the end of the drip lines. The nutrient concentration was determined by flame spectrophotometry. The Christiansen's uniformity coefficients (CUC), of distribution (DUC), of statistical (SUC) and of emission (eUC) were estimated. The K2O concentration and distribution decreased linearly with the increase of the injection distance. In all treatments, the CUC, SUC and DUC were described as 'excellent'. The eUC was described as 'recommended' only at smaller injection distances.

Ylioptimismin Vaikutus Listautumisantien Alihinnoitteluun Suomen Markkinoilla

Osakeyhtiöiden pörssiin listautumisia tutkittaessa on yleisesti huomattu, että ensimmäisen listautumispäivän aikana kyseisten yhtiöiden osakkeiden tarjoamat tuotot ovat poikkeuksellisen suuria. Kyseinen ilmiö tunnetaan yleisesti listautumisannin alihinnoittelun anomaliana. Listautumisista keskusteltaessa teorioita on luotu kolmesta eri anomaliasta; (i) uusien osakkeiden alihinnoittelu, (ii) alihinnoittelun syklisyys (Ritter, 1984) ja (iii) alihinnoitellun listautumisannin pitkän aikavälin huono menestyminen (Ritter, 1991). Useat tutkimukset (mm. Beatty ja Ritter, 1986) osoittavat, että ainoastaan maltillinen alihinnoittelu on edukasta listautuvalle yritykselle, mutta ennen kaikkea annin järjestäjälle. Lisäksi mm. Shillerin (1990) tekemä kyselytutkimus, jonka mukaan suurin osa sijoittajista ei perusta listautuvaan yritykseen kohdistuvia sijoituksiaan fundamentteihin, osoittaa, että tuotot eivät ole puhtaasti seurausta ainoastaan alihinnoittelusta. Tämä tutkimus pyrkii määrittelemään aiemmin vähäisesti tutkittua markkinoiden ylioptimismin vaikutusta listautumisannin jälkeisiin ensimmäisen päivän tuottoihin (alihinnoitteluun), käyttämällä aiempien tutkimusten tuloksia ja perusteltuja päätelmiä teoriapohjan luonnissa. Luotua teoriaa testataan empiirisesti käyttäen hyödyksi Helsingin pörssiin (OMXH) listautuneista yrityksistä vuodesta 1998 vuoden 2007 loppuun kerättyä dataa. Aineiston tuottamat tulokset tukivat aiempaa kirjallisuutta. Lisäksi tutkimuksista kyettiin toteamaan, että ylioptimismilla on vaikutusta listautumisantien jälkeisissä lyhyen aikavälin tuotoissa. Tuloksiin on kuitenkin suhtauduttava kriittisesti pienen aineistokoon takia.

Mutual Fund Performance and the Market Timing Ability - Finnish Evidence

The purpose of this thesis is to examine the performance of Finnish equity funds and their market timing ability. Fund performance is evaluated by using annual returns and various risk-adjusted measures, including Sharpe ratio, DDSR, SKASR, Treynor ratio and Jensen’s alpha, whereas portfolio manager’s timing ability is examined with Treynor-Mazuy model and Henriksson-Merton model. The data is collected from the Finnish fund market during the sample period from January 1997 to February 2010. Results show that Finnish equity funds have been able to outperform the market return on a risk-adjusted basis, but these results are influenced heavily by the exceptionally good performance during the IT-bubble. Market timing models show that fund managers have been, to some degree, able to time the market but not a single fund have been able to possess security selection ability and market timing ability simultaneously.

Stock Repurchase Authorizations - Finnish Companies

The aim of this study is to examine the abnormal market reaction caused by share repurchase authorizations. We study this abnormal reaction from five different angles. First four concentrate on average abnormal returns while the fifth concentrates on cumulative abnormal return. Data consists of 508 share repurchase authorization from Finnish stock market. Event study methodology is used to examine the stock price reaction and regression analysis is used to find correlation between actual buybacks and abnormal returns. The empirical results show that markets do usually react positively to share repurchase authorizations. There are some differences depending which of the five angles the abnormal returns are being examined. Statistically we can confirm that some authorization give positive reaction while others do not. Also we didn’t find a statistically significant positive correlation between actual buybacks and abnormal returns.

Performance Comparison of Behavioral Finance -based Investment Strategies in the Finnish Stock Market 1996-2010

In this thesis traditional investment strategies (value and growth) are compared to modern investment strategies (momentum, contrarian and GARP) in terms of risk, performance and cumulative returns. Strategies are compared during time period reaching from 1996 to 2010 in the Finnish stock market. Used data includes all listed main list stocks, dividends and is adjusted in case of splits, and mergers and acquisitions. Strategies are tested using different holding periods (6, 12 and 36 months) and data is divided into tercile portfolios based on different ranking criteria. Contrarian and growth strategies are the only strategies with improved cumulative returns when longer holding periods are used. Momentum (52-week high price1) and GARP strategies based on short holding period have the best performance and contrarian and growth strategies the worst. Momentum strategies (52-week high price) along with short holding period contrarian strategies (52-week low price2) have the lowest risk. Strategies with the highest risk are both growth strategies and two momentum strategies (52-week low price). The empirical results support the efficiency of momentum, GARP and value strategies. The least efficient strategies are contrarian and growth strategies in terms of risk, performance and cumulative returns. Most strategies outperform the market portfolio in all three measures. 1 Stock ranking criterion (current price/52-week highest price) 2 Stock ranking criterion (current price/52-week lowest price)