<SEC-DOCUMENT>0000845877-21-000099.txt : 20210402
<SEC-HEADER>0000845877-21-000099.hdr.sgml : 20210402
<ACCEPTANCE-DATETIME>20210402171133
ACCESSION NUMBER:		0000845877-21-000099
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210401
FILED AS OF DATE:		20210402
DATE AS OF CHANGE:		20210402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Maines Robert J
		CENTRAL INDEX KEY:			0001633936

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14951
		FILM NUMBER:		21802845

	MAIL ADDRESS:	
		STREET 1:		C/O BENEFICIAL BANCORP, INC.
		STREET 2:		1818 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

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>3
<SEQUENCE>1
<FILENAME>wf-form3_161739781722821.xml
<DESCRIPTION>FORM 3
<TEXT>
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<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2021-04-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001633936</rptOwnerCik>
            <rptOwnerName>Maines Robert J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FARMER MAC 1999 K STREET NW</rptOwnerStreet1>
            <rptOwnerStreet2>4TH FL</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>SVP - Operations</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class C Non-Voting Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1888</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Appreciation Right</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>88.68</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-03-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Non-Voting Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1248.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes restricted stock units (&quot;RSUs&quot;) previously granted under the Amended and Restated 2008 Omnibus Incentive Plan of the Federal Agricultural Mortgage Corporation (&quot;Farmer Mac&quot;). Each RSU represents the contingent right to receive, upon vesting of the unit, one share of Farmer Mac's Class C Non-Voting Common Stock. Mr. Maines was granted: (i) 957 time-based RSUs on April 1, 2020, which will vest on April 15, 2023; (ii) 621 time-based RSUs on March 2, 2021 that includes three installments of 207 RSUs, each of which will vest on March 31, 2022, March 31, 2023, and March 31, 2024, respectively, and [text continued in footnote 2 below].</footnote>
        <footnote id="F2">Also includes (iii) a target amount of 310 performance-based RSUs granted on March 2, 2021, which will vest on March 31, 2024 in a varying amount between 50% and 200% of the target amount if Farmer Mac meets certain performance objectives related to business volume, as specified in the related award agreement, for the period starting on January 1, 2021 and ending on December 31, 2023, subject to &quot;gatekeepers&quot; related to compliance with regulatory capital requirements and specified asset quality metrics. Any adjustment to the target award of performance-based RSUs will be reported at the time of the actual determination of performance as compared to the applicable threshold. In no event will the number of shares awarded upon vesting of the performance-based RSUs exceed 200% of the target amount of RSUs.</footnote>
        <footnote id="F3">Exercisable beginning March 31, 2022 with respect to 416 shares, beginning March 31, 2023 with respect to 416 shares, and beginning March 31, 2024 with respect to 416 shares.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Stephen P. Mullery, as attorney-in-fact for Robert J. Maines</signatureName>
        <signatureDate>2021-04-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>poa.htm
<DESCRIPTION>POWER OF ATTORNEY FOR: STEPHEN P. MULLERY, AS ATTORNEY-IN-FACT FOR ROBERT J. MAINES
<TEXT>
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<pre>
I, Robert J. Maines, do hereby grant power of attorney to each of Stephen P. Mullery, Christy M. Prendergast, Jonathan Cohen, and Arriann Mathurin for the sole purpose of filing Forms 3, 4, or 5 to report my transactions in Farmer Mac securities with the Securities and Exchange Commission as required by Section 16(b) of the Securities Exchange Act of 1934 and with the Farm Credit Administration (FCA) as required by regulations issued by the FCA.  This Limited Power of Attorney will remain in effect until revoked in writing by me.
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