In the third quarter of 2023, the corn sector wrapped up the 2022/23 marketing year and entered the 2023/24 marketing year. Geopolitical tensions and international dynamics continue to be factors in the market. Looking ahead, war in Israel could have greater implications for corn if it spreads throughout the Middle East, along with the ongoing war in the Black Sea Region. On the macroeconomic side, interest rates continue to rise while the economy remains strong, a challenge for forecasting economic landing, especially considering geopolitical factors. Despite widespread drought across the corn belt during the growing season, the U.S. is positioned to produce one of the three largest corn crops on record. The positions the U.S. with grain needed to fulfill demand. Even with strong competition in the world market, the outlook for demand from ethanol, feed, and exports is more positive than last year. This report summarizes the State of the Corn Economy with a short perspective on aspects of the corn balance sheet, macroeconomics and related markets, international dynamics, and farm-level factors.