Exhibit 10.2.14

                   AMENDMENT NO. 14 TO EMPLOYMENT CONTRACT

     AGREED, as of the 16th day of June 2005,  between the Federal  Agricultural
Mortgage  Corporation  (FAMC)  and Henry D.  Edelman  (you),  that the  existing
employment contract between the parties hereto, dated May 5, 1989, as amended by
Employment  Agreement  Amendment  No. 1 dated  January 10,  1991,  Amendment  to
Employment  Agreement  dated as of June 1, 1993,  Amendment  No. 3 to Employment
Contract dated as of June 1, 1994,  Amendment No. 4 to Employment Contract dated
as of February 8, 1996,  Amendment No. 5 to Employment Contract dated as of June
13, 1996,  Amendment  No. 6 to Employment  Contract  dated as of August 7, 1997,
Amendment No. 7 to Employment Contract dated as of June 4, 1998, Amendment No. 8
to Employment  Contract dated as of June 3, 1999,  Amendment No. 9 to Employment
Contract dated as of June 1, 2000, Amendment No. 10 to Employment Contract dated
as of June 7, 2001,  Amendment No. 11 to Employment Contract dated as of June 6,
2002,  Amendment No. 12 to  Employment  Contract  dated as of June 5, 2003,  and
Amendment   No.  13  to  Employment   Contract   dated  as  of  August  3,  2004
(collectively, the Agreement), be and hereby is amended as follows:

     Sections 1, 4 (a) and 9 (a) (iii) of the  Agreement  are  replaced in their
entirety with the following new sections:

     1. Term.  The Term of this  Agreement  shall continue until June 1, 2010 or
any earlier  effective date of  termination  pursuant to Paragraph 9 hereof (the
"Term").

     4 (a). Base Salary. As of July 1, 2005, you will be paid a base salary (the
Base  Salary)  during the Term of Five  Hundred  Fourteen  Thousand  One Hundred
Dollars ($514,100) per year, payable in arrears on a bi-weekly basis; and

     9 (a) (iii).  Farmer  Mac may  terminate  the  employment  of the  Employee
without  "cause" at any time.  Such  termination  shall become  effective on the
earlier  of  June  1,  2010  or two  years  from  the  date  of  notice  of such
termination.

     As amended hereby, the Agreement remains in full force and effect.

Federal Agricultural Mortgage Corporation            Employee


By:     /s/ Fred L. Dailey                            /s/ Henry D. Edelman
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   Chairman of the Board