Perhaps there should be a rule that anyone whose business is analyzing any kind of market economics must be forced to take some time off and be totally removed from any contact with markets or the forces that move them. Aside from the other benefits derived from such vacations, time away from the day-to-day market tensions may not make one any smarter or more perceptive, but it can do wonders for one’s perspective. We just returned from a week of floating and wading rivers in northern Wyoming chasing wild trout. This provided the opportunity to be completely out of touch with politics, trade conflicts, crop prospects and supply/demand balances as well as price movements of grain and oilseeds. To be honest, we did not even think about...