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In a large bowl, combine cereal and peanuts; set aside. In a large heavy saucepan, combine the brown sugar, butter and corn syrup; bring to a boil over medium heat, stirring constantly. Boil for 5 minutes, stirring occasionally. Remove from the heat. Stir in vanilla and baking soda (mixture will foam). Immediately pour over cereal mixture and toss to coat. Spread into two greased 15-in. x 10-in. x 1-in. baking pans. Bake at 250° for 1 hour, stirring every 20 minutes. Cool completely on wire racks. Store in airtight containers. Yield- 14 cups.
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