A bill to amend the Federal Crop Insurance Act to authorize the Federal Crop Insurance Corporation to insure producers against losses of commodities incurred as a result of the insolvency of certain persons who store grain or upland cotton on behalf of such producers, and for other purposes.

Amends the Federal Crop Insurance Act to authorize the Federal Crop Insurance Corporation to insure producers of wheat, rice, upland cotton, soybeans, or feed grains against losses due to the insolvency of approved storage facilities.

States that 20 percent of such insurance premiums shall be paid by the Federal Crop Insurance Corporation. Requires the Corporation to promote the purchase of such insurance.

Requires an annual report to the appropriate congressional committees.