nbc's janet shamlian in ft. valley georgia for us tonight with this story. janet, good evening. >> brian, good evening to you. it is nothing short of mud soup out here in the fields and the orchards. usually the problem is too little rain. and this year the crops are drowning. duke lane can't believe these are the same orchards so parched and thirsty just a year ago. this central georgia farmer harvests one of the largest peach crops in the nation. but after a summer of seemingly nonstop downpours, he's lost a full third of his yield. >> we were really picking in water for most of the summer. it's a problem for the peaches not to be picked in the proper time. >> reporter: and peaches aren't the only crop in trouble. across the southeast, the soaking won't stop. the ground is too wet to cut wheat. cotton and peanut crops are drowning. >> this is the worst amount of water we've ever had, since i've been farming. >> reporter: georgia's rainfall is 34% higher than normal. up 22% in alabama. north and south carolina up 25%. carolina up 25%. >> the forecast for the

nbc's janet shamlian is there live in miami beach. janet? >> reporter: hi, kelly.ng up for auction, as you said, at a bargain rate. we're going to get an exclusive look inside these famed gates coming up when "squawk on the street" continues. ♪ [ male announcer ] you wait all year for summer. ♪ this summer was definitely worth the wait. ♪ summer's best event from cadillac. let summer try and pass you by. lease this all-new cadillac ats for around $299 per month or purchase for 0% apr for 60 months. come in now for the best offers of the model year. >>> welcome to the earnings squad. we dissect the earnings story everyone is talking about. miami hel lis sa lee. joined by mary thompson and josh lipton. to the scorecard with 26 of s&p 500 companies reporting. 64 beat their eps targets, 11% met estimates. 25% of reports have come in below. let's kick it off with big earnings watchesers. lexmark hitting levels it has not seen after 2 1/2 years. margins declined, the company's profit more than doubled on a large one-time gain from the sale of its ink jet business. second