On August 1, 1994, at 1900 central daylight time, an Air Tractor AT-401, N45297, was substantially damaged during a forced landing near McGehee, Arkansas. The commercial pilot was not injured. Visual meteorological conditions prevailed for the aerial application flight. The pilot and operator reported the following information. The flight departed the Weatherly Farm near Kelso, Arkansas, at 1845. The airplane was being ferried to Jerome, Arkansas, for additional aerial application flights. During cruise at 700 feet above the ground, a total mechanical loss of engine power occurred. An emergency descent and approach was made to a cotton turn row. During the landing roll on the rough turn row, the airplane ground looped. An examination of the engine by the FAA inspector and the operator revealed the engine was mechanically seized. The operator reported a bearing failure in the engine blower section caused the power loss.