In large-scale wireless sensor networks, sensor-processor elements (nodes) are densely deployed to monitor the environment; consequently, their observations form a random field that is highly correlated in space. We consider a fusion sensor-network architecture where, due to the bandwidth and energy constraints, the nodes transmit quantized data to a fusion center. The fusion center provides feedback by broadcasting summary information to the nodes. In addition to saving energy, this feedback ensures reliability and robustness to node and fusion-center failures. We assume that the sensor observations follow a linear-regression model with known spatial covariances between any two locations within a region of interest. We propose a Bayesian framework for adaptive quantization, fusion-center feedback, and estimation of the random field and its parameters. We also derive a simple suboptimal scheme for estimating the unknown parameters, apply our estimation approach to the no-feedback scenario, discuss field prediction at arbitrary locations within the region of interest, and present numerical examples demonstrating the performance of the proposed methods.