As the end of this year and the beginning of the next one nears, it is hard to resist looking back at what has occurred and speculating about what lies ahead.As the end of this year and the beginning of the next one nears, it is hard to resist looking back at what has occurred and speculating about what lies ahead. There are a number of things that stand out in 2016 as having considerable importance to markets and the business of agriculture. Following are a few that make our own highly subjective list:

2016/17 will be a year for new production records and the fourth consecutive one of very large grain and oilseed crops for both the U.S. and the world. The U.S. had record-large corn and soybean production in 2016 and set yield records fo...