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Drain clams, reserving 2/3 cups of clam juice.
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Heat a large pot over medium heat. Add pancetta and cook until crispy. Remove pancetta from pan and place on a paper towel, for later.
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Add onion, celery, garlic and thyme to pan. Cook 3-4 minutes, until softened.
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Increase heat to medium-high and add reserved clam juice, potato, bottled clam juice and bay leaf. Heat to boil, then reduce heat to medium low to cook potatoes, about 8-9 minutes.
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In a medium pourable measuring cup or bowl, whisk whole milk and flour until smooth. Slowly add to the pot, stirring constantly. Chowder will thicken in 4-5 minutes.
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Add minced clams and season with pepper. (See note about salt) Heat 2-3 minutes, until clams are heated.
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Serve in bowls, topping with oyster crackers, pancetta and parsley.