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Pour the warm water into a mixing bowl. Add and let dissolve the sugar or honey and then the yeast.
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When the yeast is bubbling, add the butter, the dry milk, and salt. Weigh your flour; or measure it by gently spooning it into a cup, then sweeping off any excess. Add 3 cups of flour and mix together.
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Stir in another 2 1/2 cups of flour, keeping the last 1/2 cup in reserve. Knead the dough for 3 to 4 minutes, until it begins to behave as if it belongs together. Cover and let the dough rest while you clean and grease the mixing bowl.
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Continue kneading for 3 or 4 more minutes, until the dough feels smooth and springy. Use up to 1/2 cup of the reserved flour, if necessary, to keep the dough from sticking to the kneading surface.
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Place the dough in the greased bowl, turn it over to coat both sides, and cover the bowl. Let it rise in a draft-free place until doubled, 1 to 2 hours. Deflate the dough, and divide it in half. Form into loaves (or make into cinnamon-raisin bread as described in tips, below), and place in greased 8 1/2" x 4 1/2" pans. Cover with greased plastic wrap and let rise until the dough domes an inch above the rim of the pans.
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After the dough has been rising for 20 minutes, preheat the oven to 350°F. When the loaves are sufficiently risen, bake for 35 to 40 minutes, or until nicely browned and the center of the loaves reads 190°F when measured with an instant-read thermometer. Remove from the oven and tip the breads out of their pans. Place on a rack to cool completely before slicing.