In a mixing bowl, combine 2 c. flour, yeast, sugar, salt and baking powder. Mix for 1 minute.
While flour is mixing, pour milk and water into a small saucepan. Heat over low heat until just warm, about 2 minutes. Pour into mixing bowl and beat for 2 minutes.
Add remaining cup of flour, 1/2 a cup at a time, and mix for 3-5 minutes (or knead by hand for 5-7 minutes). Dough will be somewhat sticky.
Grease a loaf pan and sprinkle with cornmeal. Spread dough into pan, cover and let rise for 45 minutes.
Bake at 400 degrees for 20-25 minutes, until golden brown.