On July 26, 2002, at approximately 0930 central daylight time, an Air Tractor AT-301, N2326S, piloted by a commercial pilot, was substantially damaged during a forced landing following a loss of engine power. The airplane was engaged in agricultural application work under 14 CFR Part 137 at the time of the accident. The airplane departed at 0800 cdt from runway 18 (2,800 feet x 80 feet, turf) at the Hendrickson Flying Service Airport (IL93), Creston, Illinois. Hendrickson is a private airport located ten (10) miles west of Dekalb Taylor Municipal Airport (DKB). The accident occurred approximately two (2) miles northeast of Hendrickson Flying Service Airport. The flight intended to return to Hendrickson following completion of its agricultural application work. Visual meteorological conditions prevailed at the time of the accident. The pilot sustained minor injuries. The pilot stated: "I took off at 8:00am from Hendrickson Flying Service strip with a load of spray material. . . . After spraying 3 fields I headed back to HFS, 4 miles NE of HFS low fuel psi light came on and no fuel psi on gauge, engine quit. I had been ferrying at 600 ft agl and had already started reducing manifold pressure for descent. When engine quit I had no where to go but in field corn at 9:30am." Examination of the aircraft after the accident revealed no evidence of fuel in the tanks. The fuel pump inlet hose and carburetor fuel line were removed. No evidence of fuel was found in the fuel pump hose. A small amount of fuel was found in the carburetor fuel line. The pilot holds a commercial pilot certificate with an airplane -- single-engine land rating. His second class medical certificate was issued on March 12, 2002. He has accumulated 2,362 hours total time, of which 338 hours are in the same make and model as the accident aircraft. He reported flying 238 hours in the last 90 days. The Air Tractor AT-301, S/N 301-0381, involved in the accident had accumulated 7,960 hours total time. An annual inspection was completed on June 12, 2002, and had been flown 83 hours since then. The Pratt & Whitney R-1340 series engine installed had accumulated 1,041 hours since overhaul. The pilot did not report any malfunctions or failures with the airplane or engine either prior to, or at the time of, the accident. Weather conditions at the scene were reported by the pilot as 1,500 agl overcast, with three (3) miles visibility, and south-west winds at five (5) knots. The Dekalb Taylor Municipal Airport (DKB) AWOS, located eight (8) miles east-southeast of the accident site, at 0924 cdt, reported conditions as clear, seven (7) miles visibility in haze, and winds from 240 degrees at four (4) knots.