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While the economic impacts of climate change on crop yields are well documented, less is known about the relationship between climate and crop quality.This discrepancy persists despite the economic importance of quality in determining agricultural revenues.Using a unique data set from the multi-state Peanut Variety and Quality Evaluation (PVQE) program, we quantify the economic impact of projected warming on revenue of Virginia-type peanuts for which grade and kernel size are important determinants of price.We calculate changes to revenue using Commodity Credit Corporation (C.C.C.) loan values as a proxy for market prices; C.C.C. peanut loan values depend on kernel size in a given batch of peanuts.In contrast to studies for other crops, the impacts of warmer temperatures on yield and quality are symmetric and negative, resulting in acutely depressed farm revenues.Our model predicts a roughly 11% decline in revenue under warming of 1 degree Celsius.Examining varietal improvement as an adaptation strategy, we find that gains in yield and quality from breeding could offset revenue losses under moderate warming up to 1 degree Celsius, but are unlikely to sustain farm revenues under more extreme changes in temperature.