Peanut Price Support Extension Act of 1990

Peanut Price Support Extension Act of 1990 - Amends the Agricultural Adjustment Act of 1938 to extend the following programs for the 1991 through 1995 peanut crops: (1) suspension of marketing quotas and acreage allotments; (2) national and farm poundage quotas; (3) sale, lease, or transfer provisions; and (4) marketing provisions.

Amends the Agricultural Act of 1949 to extend price supports for the 1991 through 1995 crops of quota and additional peanuts. Establishes the following quota peanut levels: (1) for 1991, the rate shall be the 1990 rate; (2) for 1992 and 1994, the rate shall be the adjusted rate of the immediately preceding crop; and (3) for 1993 and 1995, the rate shall be the rate of the immediately preceding crop.

Provides for warehouse storage loans. Requires area marketing associations to maintain pools and records for quota and additional peanuts.

Directs the Secretary of Agriculture to take specified actions to improve the quality of edible peanuts.

Directs the Secretary to establish the Peanut Regulatory Advisory Committee which shall terminate at the end of the 1995 marketing year.