SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                             ____________________

                                   FORM 8-K

                                CURRENT REPORT
                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported)       March 11, 1997           
 


                     Federal Agricultural Mortgage Corporation                  
                   (Exact Name of Registrant as Specified in its Charter)

  Federally chartered instrumentality
    of the United States                        0-17440       52-1578738        
 State or Other Jurisdiction of Incorporation (Commission    (IRS Employer
                                               File Number) Identification No.)

         919 18th Street, N.W., Suite 200, Washington, D.C.         20006       
             (Address of Principal Executive Offices)             (Zip Code)

Registrant's telephone number, including area code:           (202) 872-7700    

                                            N/A                                 
         (Former Name or Former Address, if Changed Since Last Report)





Item 5.         Other Events

      On February  20,  1997,  the Federal  Agricultural  Mortgage  Corporation
issued  a  press  release  announcing  financial  results  for the  year  ended
December 31, 1996, a copy of which is attached hereto.


Item 7.         Financial Statements and Exhibits

      Exhibit 99(1) - Press Release (including  Condensed  Consolidated Balance
Sheets at December  31, 1995 and 1996 and at September  30, 1996 and  Condensed
Consolidated  Statements  of Income for the quarters  ended  December 31, 1995,
September  30, 1996 and December 31, 1996 and for the years ended  December 31,
1995 and 1996).
 










                                  SIGNATURES

      Pursuant to the requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                            FEDERAL AGRICULTURAL MORTGAGE CORPORATION
                            (Registrant)

                            By:                            
                                    Michael T. Bennett
                                    Vice President


Date: March 11, 1997