On May 27, 1998, at 0730 central daylight time, a Boeing Stearman A75-N1, N49955, experienced a total loss of engine power during an aerial application flight near West Fargo, North Dakota. The airplane was substantially damaged when it nosed over in a soft field during the subsequent forced landing. The commercial pilot/owner was not injured. The flight was being conducted under 14 CFR Part 137. Visual meteorological conditions prevailed at the time of the accident and no flight plan was filed. The flight originated from the Argusville, North Dakota, at 0700 cdt. The pilot reported he was spraying a field in one direction to the east in order to avoid flying over a river. He reported he was pulling up after a swath run to circle around for another run when the engine lost power. The pilot made a turn to the north-northeast to execute a forced landing. The landing was made in a soft field where the airplane nosed over. The airplane and accident site were inspected by an Inspector from the Federal Aviation Administration, Des Moines, Iowa, Flight Standards District Office. The Inspector reported the airplane was located in an inverted position. He reported there was no indication of fuel on board the airplane nor was there any indication of fuel spillage at the accident site.