<SEC-DOCUMENT>0000845877-21-000097.txt : 20210402
<SEC-HEADER>0000845877-21-000097.hdr.sgml : 20210402
<ACCEPTANCE-DATETIME>20210402170856
ACCESSION NUMBER:		0000845877-21-000097
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210331
FILED AS OF DATE:		20210402
DATE AS OF CHANGE:		20210402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mullery Stephen P
		CENTRAL INDEX KEY:			0001551864

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14951
		FILM NUMBER:		21802806

	MAIL ADDRESS:	
		STREET 1:		C/O FARMER MAC
		STREET 2:		1999 K STREET N.W., 4TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FEDERAL AGRICULTURAL MORTGAGE CORP
		CENTRAL INDEX KEY:			0000845877
		STANDARD INDUSTRIAL CLASSIFICATION:	FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111]
		IRS NUMBER:				521578738
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1999 K STREET NW,
		STREET 2:		4TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006
		BUSINESS PHONE:		2028727700

	MAIL ADDRESS:	
		STREET 1:		1999 K STREET NW,
		STREET 2:		4TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_161739767790034.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-03-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000845877</issuerCik>
        <issuerName>FEDERAL AGRICULTURAL MORTGAGE CORP</issuerName>
        <issuerTradingSymbol>AGM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001551864</rptOwnerCik>
            <rptOwnerName>Mullery Stephen P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FARMER MAC</rptOwnerStreet1>
            <rptOwnerStreet2>1999 K STREET N.W., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20006</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP - General Counsel</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class C Non-Voting Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1042</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100.86</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>18526</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">On March 31, 2021, (i) 436 restricted stock units vested as the third installment of the time-based award granted in March 2018, for which the Federal Agricultural Mortgage Corporation (&quot;Farmer Mac&quot;) retained 211 shares to satisfy withholding requirements, (ii) 654 restricted stock units vested that were granted in March 2018, upon Farmer Mac's achievement of certain performance objectives related to portfolio charge-offs and delinquencies, as specified in the related award agreement, for which Farmer Mac retained 316 shares to satisfy withholding requirements, and (iii) 527 restricted stock units vested as the second installment of the time-based award granted in February 2019, for which Farmer Mac retained 255 shares to satisfy withholding requirements.</footnote>
        <footnote id="F2">Also includes (iv) 540 shares of restricted stock units vested as the first installment of the time-based award granted in March 2020, for which Farmer Mac retained 260 shares to satisfy withholding requirements.</footnote>
        <footnote id="F3">In accordance with a policy adopted by the Compensation Committee of Farmer Mac's Board of Directors, the price used for the calculation of the number of shares withheld by Farmer Mac in satisfaction of tax liability is the closing price of Farmer Mac's Class C Non-Voting Common Stock on the New York Stock Exchange on the last trading day before the vesting date.</footnote>
        <footnote id="F4">Includes 5,532 restricted stock units previously granted under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan.  The grants of restricted stock units have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Stephen P. Mullery</signatureName>
        <signatureDate>2021-04-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
