In "God's Word for Today" David Woods writes:
In some phases of our lives, we may be tempted to forget or doubt God's goodness. During seasons of prosperity and blessing, we may begin to think our good life is due to our own ingenuity and hard work. During great trouble, we may think God has forgotten us. But it would be shameful if we were only grateful during those seasons in which God delivers us out of trouble. Instead, we should remember how God has worked in the past, and praise Him for His goodness at all times. At least three of the stanzas in Psalm 107 speak directly to the Israelites' history. The first stanza reminds us of the forty years of wandering in the wilderness. The second stanza seems to speak of the Babylonian exile. The third stanza could speak of various experiences in which the people suffered because of their sin, but if this Psalm were written after the exile, it could especially mirror the distress the returned exiles felt.
Discussion: What are three or four specific instances in our church's history, our personal lives, etc. in which God's goodness was demonstrated?
Source: Studies in the Psalms: Adult Teacher's Insights, page 67.