In a large bowl, dissolve yeast in 1/2 cup water. Add molasses, butter, caraway, salt and remaining water; mix well. Combine flours; add 3 cups to batter. Beat until smooth. Add enough remaining flour to form a firm dough.
Turn onto a floured surface; knead until smooth and elastic, 6-8 minutes. Place in greased bowl, turning once to grease top. Cover and let rise in a warm place until doubled, about 1 hour.
Punch dough down; shape into a round loaf. Place on a greased baking sheet. Cover and let rise until doubled, about 30 minutes.
Bake at 375° for 20-25 minutes or until golden brown.