To impose a limitation on the maximum amount of crop insurance premiums paid by the Federal Crop Insurance Corporation, to repeal the authority to provide direct payments for producers of certain major agricultural commodities and peanuts, to prohibit the Secretary of Agriculture from making payments to the Brazilian Cotton Institute, and for other purposes.

Amends the Federal Crop Insurance Act to prohibit the Federal Crop Insurance Corporation (FCIC) from paying more than 70% of the premium for any coverage, policy, or plan of insurance.

Amends the Food, Conservation, and Energy Act of 2008 to end agricultural direct payments. (Continues such payments through crop year 2013 for covered commodities and peanuts.)

Prohibits the Secretary of Agriculture (USDA) from making payments, either directly or through the Commodity Credit Corporation (CCC), to the Brazilian Cotton Institute.