Soybean Graduated Equity Loan Program Act of 1990

Soybean Graduated Equity Loan Program Act of 1990 - Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to make recourse loans available to soybean producers for each of the 1991 through 1995 crops of soybeans. Prescribes a general formula for the calculation of loan levels, dependent on applicable soybean-corn equity rates and soybean-cotton equity rates. Sets forth ceilings on the amount of soybeans of any crop that may be placed under loan, graduated from 75 percent down to 45 percent according to the size of the carryover of soybeans stocks at the end of each marketing year. Provides for loan terms and soybean program announcements. Sets the soybean marketing year to run from September 1 through August 31.

Directs the Secretary, for each of the 1991 through 1995 crops, to permit producers on a farm to plant soybeans on up to 25 percent of the combined wheat, feed grain, cotton, and rice acreage bases of the farm. Limits to program benefits under this Act alone any producers who make such plantings.