The most common and most likely answer to this crossword clue is the 8 letter word ESTANCIA
I've seen this crossword clue in The Guardian
E
S
T
A
N
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A
More clues leading to the result ESTANCIA
Buddy explains!

The straight part
We know that "Ranch" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case ranch = estancia.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ESTANCIA mean?
ESTANCIA noun- A large rural estate in Latin America; a kind of ranch.