A bill to establish a national insurance program to protect persons storing grain in a public warehouse against losses which may be caused by the insolvency of such warehouse.

Directs the Secretary of Agriculture to establish an insurance program to protect persons who store their wheat, soybeans, or feed grains in approved public warehouses from warehouse insolvencies. Limits individual insured amounts to $100,000.

Directs the Secretary to establish uniform premium rates.

Authorizes a Public Warehouse Insurance Fund to be established in the Treasury to pay such insurance and related administrative costs.

Requires insurance claims to be paid within 30 days of a warehouse's closing.