A grain elevator failure that left farmers with millions of dollars in losses isn't prompting an outcry for a new type of insurance fund in Nebraska.

Some in the grain business were flat-out opposed to the idea of a new insurance fund. Farmers would pay millions into it so it would protect them should elevators fail.

State regulators with the Public Service Commission presented the fund idea during a meeting on Wednesday. Elevator operators, farmers, bankers and others mostly said such a fund may create more problems than it would solve.

In the recent bankruptcy of Alvo Grain and Feed, farmers who weren't paid for their grain will get only a small fraction of every dollar they lost.