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Combine the yeast and water in the bowl of a stand mixer outfitted with the dough hook. Add the flour, sugar, milk powder, salt, baking powder, baking soda, and fat and mix on the lowest speed possible for 8-10 minutes. The dough should gather together into a neat, not-too-tacky ball on the hook. When it does, lightly oil a mixing bowl, put the dough in it, and cover with a dry cloth. Let rise in a warm place for 1 hour 30 minutes.
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Punch the dough down and turn it onto a clean work surface. Cut dough in half. Cut each half into fourths and each fourth into thirds, until there are 24 balls of dough. Place on a parchment lined baking sheet. Cover with plastic wrap and allow to rest for 30 minutes.
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Place each ball on a clean surface and lightly roll into an oblong shape. Fold in half and place on squares (approx. 3 x 4-inch) of parchment paper. Place into a steamer, not overcrowding. Steam for about 10 minutes. Remove from steamer. Buns can be used immediately. Makes 24 buns
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Buns can be made in advance. Allow to cool and place in resealable plastic bags. Buns can be frozen for a few months. Buns can be reheated by steaming for 2-3 minutes.