Cracker Jill (cracker Jack Copycat)

I found this in a Chicago Tribune article on Chicago baseball history. They called Cracker Jack the "primordial American snack". I don't know about that but I do know that this stuff is really tasty!

• Ready In: 1 hr 30 mins
• Serves: 6

Ingredients

• 2  tablespoons canola oil
• 1⁄2 cup  popcorn
• 1⁄2 cup molasses
• 2⁄3 cup sugar
• 1⁄2 cup corn syrup
• 1  tablespoon butter
• 1⁄4 teaspoon baking soda
• 1⁄4 teaspoon salt
• 1  cup Spanish peanut

Directions

1. Heat oven to 250°; line two rimmed baking sheets with parchment paper.
2. Pour oil and corn into a large pot; cover, heat over medium high and when sound of popping slows down, turn off the heat, slide the lid open just enough to let steam, but not wayward popcorn explosions, escape; pick out any old maids (unpopped kernels) and set aside.
3. Mix molasses, sugar and corn syrup in a large saucepan; bring to a boil over high heat until the mixture reaches the hard-ball stage on a candy thermometer, 260°; stir in the butter, then the baking soda and salt.
4. The mixture will turn a light caramel color and rise up in a bubbling mass; be prepared but not alarmed.
5. Stir in the peanuts until coated with caramel.
6. Pour the peanut-caramel mixture over the popcorn, which is still in it's large pot, and turn with a rubber spatula until nicely coated.
7. Turn out the popcorn mixture onto the baking sheets; using your spatula, spread it out evenly.
8. Crisp in the oven for 15 minutes, stirring once or twice; turn off the heat, but leave the caramel corn inside until cool, an hour or more; break up any chunks.