
Pop the 3 bags of popcorn and empty the popcorn onto a cookie sheet or anything with a lip. IMPORTANT: Be sure to remove all the kernels that didn't pop. Biting into an unpoped kernel is the quickest way to ruin your caramel corn experience. Heat the butter, brown sugar, light corn syrup and salt in a large pot on the stove. Stir continually to keep the ingredients combine and continue to stir until it starts to boil. Remove spoon and insert the candy thermometer. Do not stir or touch the caramel until it reaches 280 degrees. Remove the thermometer and add the vanilla (it will fizzle a little). Gently pour the caramel over the popcorn and stir the popcorn to evenly coat. It doesn't have to be perfect - you will stir it while it's in the oven so everything eventually gets coated. Pop the pan into the oven for 1 hour, taking out and stirring every 20 minutes. Remove from oven and let cool. You may have to break apart some of the larger clusters, I find that putting all of it in a Ziploc bag and then crushing it is most effective. Store in an airtight container overnight if you happen to have enough restraint to not eat it all in one sitting.
I tossed in a handful of peanuts when doing the initial caramel pour. They became my favorite part of the treat. I read somewhere that this can be done via microwave (making the caramel and having the caramel set/coat by putting it in a paper bag and nuking/shaking a few times) but I haven't given it a go yet.
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