FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Kenny Timothy F   2. Issuer Name and Ticker or Trading Symbol FEDERAL AGRICULTURAL MORTGAGE CORP [AGM] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 10923 SHALLOW CREEK DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 06/13/2007 (Street) GREAT FALLS, VA 22066-1560 4. If Amendment, Date Original Filed(Month/Day/Year) 06/15/2007 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class C Non-Voting Common Stock 06/13/2007   M(1)   6,000 A $ 22.11 7,477 D   Class C Non-Voting Common Stock 06/13/2007   M(1)   2,000 A $ 20.61 9,477 D   Class C Non-Voting Common Stock 06/13/2007   S(1)(2)   8,000 D $ 30 1,477 D   Class C Non-Voting Common Stock 06/14/2007   M(1)   2,000 A $ 20.61 3,477 D   Class C Non-Voting Common Stock 06/14/2007   S(1)(2)   2,000 D $ 31 1,477 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 22.11

06/13/2007

M(1)

6,000 (4)

05/31/2007

06/03/2009

Class C Non-Voting Common Stock

6,000

$ 22.11

0

D

Employee Stock Option (right to buy)

$ 20.61

06/13/2007

M(1)

2,000 (4)

(3)

06/16/2010

Class C Non-Voting Common Stock

6,000

$ 20.61

4,000

D

Employee Stock Option (right to buy)

$ 20.61

06/14/2007

M(1)

2,000 (4)

(3)

06/16/2010

Class C Non-Voting Common Stock

6,000

$ 20.61

2,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Kenny Timothy F 10923 SHALLOW CREEK DRIVE GREAT FALLS, VA 22066-1560	X

Signatures

/s/ Stephen P. Mullery, as attorney-in-fact for Timothy F. Kenny		06/27/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This report reflects (on Table I) (i) the acquisition of 6,000 shares of Class C Non-Voting Common Stock through the exercise of a previously unexercised employee stock option acquired in June 2004; (ii) the acquisition of 4,000 shares of Class C Stock through two partial exercises of a previously unexercised employee stock option acquired in June 2005; and (iii) the sale of 10,000 shares of Class C Stock in two separate transactions; and (on Table II) the closing of the June 2004 employee stock option and the partial closing of the June 2005 employee stock option. The exercises of the June 2004 and June 2005 employee stock options are exempt under Section 16(b) under Rule 16b-6, but are reported herein pursuant to Rule 16a-4.
(2)	Transaction pursuant to plan under Rule 10b5-1.
(3)	The option is exercisable commencing May 31, 2006 with respect to 2,000 shares, commencing May 31, 2007 with respect to 2,000 shares and commencing May 31, 2008 with respect to 2,000 shares.
(4)	Table II of the original Form 4 filed on June 15, 2007 incorrectly reported derivative securities as acquired ("A"). This amended Form 4 is being filed to reflect that the derivative securities reported in Table II were disposed of ("D").

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