A two-year study was conducted to determine acceptable aeration strategies for farmer stock peanuts stored inconventional warehouses with and without headspace ventilation. Farmer stock peanuts were stored in 1/10th scale modelwarehouses with various aeration and ventilation treatments. Peanuts were loaded into each warehouse in the fall and storedfor about 190 days. Peanuts stored with aeration generally cooled faster than those stored without aeration. Aflatoxin wasdetected in the initial samples from the 2002 crop, but aeration significantly reduced the further production of aflatoxin instorage. Aflatoxin contamination was not a factor in the 2003 storage season. Value change based on kernel size distributionwas not significantly affected by aeration. An aeration rate of 0.31 m3 min-1 t-1 was sufficient for proper aeration when usedwithout headspace ventilation. The reduced aeration rate of 0.10 m3 min-1 t-1 in conjunction with headspace ventilationcooled the center of the peanut mass sufficiently to reduce the risk of aflatoxin production in storage. Headspace ventilationwith aeration reduced the temperature difference between the top and bottom layers of peanut during storage.