Combine first 4 ingredients in a saucepan; heat until margarine melts. Cool to 105° to 115°. Combine yeast and warm water; let stand 5 minutes. Combine milk mixture, yeast mixture, 1 cup flour, cornmeal, and egg in a large mixing bowl; beat mixture at medium speed of an electric mixer until well blended. Gradually stir in enough of 2 to 2 1/2 cups flour to make a soft dough.
Turn dough out onto a lightly floured surface; knead until smooth and elastic (about 10 minutes). Place in a bowl coated with cooking spray; turn to coat top. Cover; let rise in a warm place (85°), free from drafts, 1 hour or until doubled in bulk.
Punch dough down; divide in half. Roll 1 portion into a 14 x 7-inch rectangle. Roll up, starting at short side, pressing firmly to eliminate air pockets; pinch ends to seal. Place, seam side down, in an 8 x 4-inch loaf pan coated with cooking spray. Repeat procedure with remaining dough. Cover and let rise in a warm place, free from drafts, 45 minutes or until doubled in bulk.
Preheat oven to 350°.
Bake bread at 350° for 30 to 35 minutes or until loaves sound hollow when tapped. Remove from pans immediately, and cool on wire racks.
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