1) Fed hikes interest rate: Federal Reserve officials raised interest rates by 75 basis points for the second straight month on Wednesday. Chair Jerome Powell says a similar move is possible again. The back-to-back June and July increases are the biggest rate hikes since the early 1980s. Bloomberg Economics thinks there’s little chance that the Fed will pause its rate hikes later this year, as markets currently expect. – Bloomberg
2) Farmers continue protests in Netherlands: Since the Dutch government announced its strategy for reducing excess nitrogen, farmers are expressing frustration with the impact the policy will have on all forms of agriculture in the Netherlands. Dutch farmers dumped manure and set hay on fire along major highways Wednesday, prompting traffic jams in central and eastern parts of the country. – Politico
3) Pork outlook muddled by inflation: According to the latest Rabobank quarterly pork report, global pork trade declined in the first half of 2022 but is expected to pick up through the remainder of the year. Market prospects are improving due to the slight easing of feed costs and resilient consumer demand. Still, challenges to growth remain as African swine fever continues to spread, and inflation is impacting trade policies. – National Hog Farmer
4) Tips for beginning farmers: Are you a young farmer starting out your own operation? When it comes to agriculture, the ever-changing market is a fierce industry to compete in, and millennial farmers face unique challenges. Only 8% of farmers 34 and younger are considered “full owner” operators, according to recent USDA data. Take a look at this list of do’s and don’ts for tips and advice. – Farm Futures, Michigan Farmer
5) Still time to make or break corn yields: Lots can happen after corn reaches the dent stage and before it makes it to black layer. Even if your corn has reached the R5 (dent) growth stage, there is still a significant amount of yield left to be made. Learn how the milk line within kernels can help determine what potential impacts environmental stresses may still have on final yield potential. – Indiana Prairie Farmer
6) USDA expands rural internet: Tom Vilsack announced the investment of $401 million to improve high-speed internet access in rural areas. The project will deliver high-speed internet access to 31,000 rural residents and businesses in 11 states. Additional announcements will come later this summer regarding the remainder of the $1.15 billion in support for rural broadband included in round three of the ReConnect Program. – Farm Progress
7) Fire in the sky: A North Texas wind farm is one turbine down due to a lightning strike on Friday, July 22. Viral videos show the wind turbine generator ablaze in the sky over Crowell, Texas. The fire chief estimated there were 800 gallons of oil in the gearbox and around 1,300 gallons of mineral oil in the ground-level transformer. – Fox Weather
