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To make the biga: Weigh your flour; or measure it by gently spooning it into a cup, then sweeping off any excess. Combine the flour, water and yeast, kneading briefly to make a stiff dough; if you're using a bread machine, allow the dough to knead for 5 minutes, then cancel the machine.
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Place the dough in a lightly greased bowl, and allow it to rise overnight, about 12 hours. It'll become bubbly.
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To make the dough: In the bowl of an electric mixer (or in the pan of your bread machine), combine biga and all of the ingredients except the dried fruit. Note: This dough is very difficult to make by hand; we suggest the use of a machine of some sort.
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Knead the dough till it's cohesive; it'll seem very gummy at first, but should come together nicely at the end. Don't worry if it doesn't form a smooth ball; it's OK if it sticks to the sides of the bowl a bit.
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Place the dough in a lightly greased bowl, and allow it to rest for an hour. It won't rise much; that's OK.
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Knead the fruit into the dough, by hand or machine; knead only until the dough accepts the fruit, as over handling will cause the fruit to release too much sugar into the dough, slowing the rise.
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Allow the dough to rest for 10 minutes, then shape it into a round ball.
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Poke a hole in the center of the ball.
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Slip the dough over the ring of a lightly greased 9" to 10" tube pan or monkey bread pan.
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Cover the pan, and set the dough aside to rise for 2 hours or so. It probably won't double in size, but will puff up a bit; don't worry, this bread's oven spring is quite good.
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Bake the panettone in a preheated 350°F oven for 25 to 40 minutes, tenting it with aluminum foil for the final 15 minutes of baking if it appears to be browning too quickly. There's a wide time-range here due to the difference in center diameters of monkey bread and tube pans; the smaller the diameter, the longer the bread will bake. The internal temperature of the dough should register 190°F to 205°F when it's done, so use an instant-read thermometer to check. If you don't have a thermometer, poke a cake tester into the center; it should come out dry, without any crumbs or wet dough clinging to it.
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Remove the panettone from the oven, and after about 5 minutes turn it out of the pan. Brush with melted butter, if desired, for a soft, buttery crust. Cool on a rack.
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Sprinkle with confectioners' sugar just before serving, if desired.