Soak oats in 1 1/2 cups warm water. Combine oil, salt, sugar, molasses and scalded milk in a large bowl.
Sprinkle yeast over 1/4 cup warm water and 1 teaspoon sugar and let sit for a couple of minutes. Add yeast mixture to wet mixture from above and stir in flour. This should form a soft dough.
Place dough in an oiled glass bowl, cover with a clean towel and let rise until doubled, 1-1.5 hours. Punch down dough and separate into two pieces. Place dough in two loaf pans, cover and let rise for another hour or so or until doubled.
Bake for 50 minutes at 375 F.
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