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WILD RICE:
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Bring broth, 1/4 cup water, bay leaves and 1 bundle thyme to boil in medium saucepan over medium-high heat.
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Add wild rice, cover, and reduce heat to low. Simmer until rice is plump and tender and has absorbed most of the liquid, 35-45 minutes. (NOTE: Wild rice goes from tough to pasty very quickly, so begin checking the rice at the 35-minute mark and drain the rice as soon as it is tender.).
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Drain rice in fine-mesh strainer to remove excess liquid. Remove bay leaves and thyme sprigs. Return wild rice to now-empty saucepan, cover, and set aside.
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WHITE RICE:
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While wild rice is cooking, place white rice in medium bowl and add enough water to cover by 2 inches. Using hands, gently swish grains to release excess starch. Carefully pour off water, leaving rice in bowl. Repeat rinsing 4-5 times, until water runs almost clear. Drain rice in fine-mesh strainer.
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Melt butter in medium saucepan over medium-high heat. Add onion, carrot, and 1 teaspoon salt and cook, stirring frequently, until vegetables are softened but not browned, about 4 minutes.
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Add rinsed and drained white rice and stir to coat grains with butter. Cook, stirring frequently, until grains begin to turn translucent, about 3 minutes.
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Meanwhile, bring 2 1/4 cups water to boil in small saucepan or in microwave.
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Add boiling water and second thyme bundle to white rice and return to boil. Reduce heat to low, sprinkle cranberries over white rice, and cover.
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Simmer until all liquid is absorbed, 16-18 minutes.
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Off heat, remove thyme sprigs and fluff rice with fork.
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GARNISH:
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Combine wild rice, white rice mixture, pecans, and parsley in large bowl and toss with rubber spatula.
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Season with salt and pepper to taste; serve immediately.