Is Futures Market Mitigating Price Risk: An Exploration of Wheat and Maize Market

Instability of commodity prices has always been a major concern of the producers as well as the consumers in an agriculture-dominated country like India. Farmers in a bid to avert the price risk often tend to go for distress sale and thereby reduce the potential returns. In order to cope up with this problem, futures trading has emerged as a viable option for providing a greater degree of assurance on the price front. Thus, futures markets serve as a risk -shifting function. In the present study, an attempt has been made to look into the mechanism of movement of spot and futures prices for two important food crops in Indian agriculture. The Augmented Dickey Fuller (ADF) test has been used for both the crops to check the stationarity of the time series data. Most of the series have been observed to follow the stationary pattern at the first difference. The cointegration test has been attempted to find out whether there exists a longrun relationship between spot and futures prices of various contract months for maize and wheat crops. However, there exists a short run disequilibrium between these two. It has been observed that the futures contract behave in an expected manner and there exists a mechanism for long-run equilibrium in the maize as well as wheat crops. This phenomenon of price convergence for both maize and wheat crops clearly states that the farmers are mitigating price risk as spot prices and future prices converges.Agricultural and Food Policy,

Risk profiles and one-year outcomes of patients with newly diagnosed atrial fibrillation in India: Insights from the GARFIELD-AF Registry.

BACKGROUND: The Global Anticoagulant Registry in the FIELD-Atrial Fibrillation (GARFIELD-AF) is an ongoing prospective noninterventional registry, which is providing important information on the baseline characteristics, treatment patterns, and 1-year outcomes in patients with newly diagnosed non-valvular atrial fibrillation (NVAF). This report describes data from Indian patients recruited in this registry. METHODS AND RESULTS: A total of 52,014 patients with newly diagnosed AF were enrolled globally; of these, 1388 patients were recruited from 26 sites within India (2012-2016). In India, the mean age was 65.8 years at diagnosis of NVAF. Hypertension was the most prevalent risk factor for AF, present in 68.5% of patients from India and in 76.3% of patients globally (P < 0.001). Diabetes and coronary artery disease (CAD) were prevalent in 36.2% and 28.1% of patients as compared with global prevalence of 22.2% and 21.6%, respectively (P < 0.001 for both). Antiplatelet therapy was the most common antithrombotic treatment in India. With increasing stroke risk, however, patients were more likely to receive oral anticoagulant therapy [mainly vitamin K antagonist (VKA)], but average international normalized ratio (INR) was lower among Indian patients [median INR value 1.6 (interquartile range {IQR}: 1.3-2.3) versus 2.3 (IQR 1.8-2.8) (P < 0.001)]. Compared with other countries, patients from India had markedly higher rates of all-cause mortality [7.68 per 100 person-years (95% confidence interval 6.32-9.35) vs 4.34 (4.16-4.53), P < 0.0001], while rates of stroke/systemic embolism and major bleeding were lower after 1 year of follow-up. CONCLUSION: Compared to previously published registries from India, the GARFIELD-AF registry describes clinical profiles and outcomes in Indian patients with AF of a different etiology. The registry data show that compared to the rest of the world, Indian AF patients are younger in age and have more diabetes and CAD. Patients with a higher stroke risk are more likely to receive anticoagulation therapy with VKA but are underdosed compared with the global average in the GARFIELD-AF. CLINICAL TRIAL REGISTRATION-URL: http://www.clinicaltrials.gov. Unique identifier: NCT01090362

Multi-trait genome-wide association study identifies new loci associated with optic disc parameters

A new avenue of mining published genome-wide association studies includes the joint analysis of related traits. The power of this approach depends on the genetic correlation of traits, which reflects the number of pleiotropic loci, i.e. genetic loci influencing multiple traits. Here, we applied new meta-analyses of optic nerve head (ONH) related traits implicated in primary open-angle glaucoma (POAG); intraocular pressure and central corneal thickness using Haplotype reference consortium imputations. We performed a multi-trait analysis of ONH parameters cup area, disc area and vertical cup-disc ratio. We uncover new variants; rs11158547 in PPP1R36-PLEKHG3 and rs1028727 near SERPINE3 at genome-wide significance that replicate in independent Asian cohorts imputed to 1000 Genomes. At this point, validation of these variants in POAG cohorts is hampered by the high degree of heterogeneity. Our results show that multi-trait analysis is a valid approach to identify novel pleiotropic variants for ONH

Design and analysis of multiple input single output converter for hybrid renewable energy system with energy storage capability

This paper proposes the design and analysis of a multiple-input-single-output (MISO) DC-DC converter suitable for a hybrid renewable energy system with energy storage capability. The converter design and control strategy validated in this research can be used to regulate the output dc voltage obtained from multiple-source renewable energy systems. The design is realized using a non-isolated double boost converter as it can handle bidirectional power flow at the storage port and has other advantages like compact structure, reduced number of components, and double boosting capability. The converter can also work without transformers, enabling the input renewable energy sources to operate individually. An inverted decoupler control strategy is adopted in the design of this novel converter. Mathematical models were developed to obtain the decoupler matrix, and the proposed control strategy is utilized to analyze the output. Simulations were performed on MISO converters with load and reference variations and is validated with the prototype. The current ripple percentage at the dual source side is found to be reduced by 2.6%. Also, the rise time, settling time, and percent overshoot of the output voltage were reduced by 0.03 s, 45 ms, and 3.6%, respectively. The performance of the proposed MISO converter is validated on a 50 W hardware prototype. The results validate the MISO converter's superior dynamic performance, output voltage regulation and reduced dual source ripple current, all of which are in agreement to the results of the simulation. A comprehensive comparison with the traditional controller is also conducted to further illustrate the advantages of the proposed inverted decoupler. The inverted decoupler validated in this work can be effectively used in hybrid renewable energy systems with energy storage capability, as it is found to be immune to the disturbances from the source end

Is Futures Market Mitigating Price Risk: An Exploration of Wheat and Maize Market

Instability of commodity prices has always been a major concern of the producers as well as the consumers in an agriculture-dominated country like India. Farmers in a bid to avert the price risk often tend to go for distress sale and thereby reduce the potential returns. In order to cope up with this problem, futures trading has emerged as a viable option for providing a greater degree of assurance on the price front. Thus, futures markets serve as a risk -shifting function. In the present study, an attempt has been made to look into the mechanism of movement of spot and futures prices for two important food crops in Indian agriculture. The Augmented Dickey Fuller (ADF) test has been used for both the crops to check the stationarity of the time series data. Most of the series have been observed to follow the stationary pattern at the first difference. The cointegration test has been attempted to find out whether there exists a longrun relationship between spot and futures prices of various contract months for maize and wheat crops. However, there exists a short run disequilibrium between these two. It has been observed that the futures contract behave in an expected manner and there exists a mechanism for long-run equilibrium in the maize as well as wheat crops. This phenomenon of price convergence for both maize and wheat crops clearly states that the farmers are mitigating price risk as spot prices and future prices converges