Drought can be devastating for people involved in agribusiness. Casual, thoughtless statements suggesting that the "government will bail them all out" are made by people not involved in agribusiness. At every level, the business of farming is based on buying all the seeds, tools, etc. on credit before the season with the hope that there will be profit at the end of the season after the debts are paid. Prices of everything along the line are unstable and unpredictable, making it even more difficult to keep to a financial plan.
It is possible to become wealthy as a farmer, but it is not an easy goal to accomplish. It isn't that drought is unusual weather. Droughts happen from time to time. That much is certain. Timing droughts is the hard part. What if next year is dry, too? See how it quickly becomes a card game in which the farmer keeps drawing bad cards.