Preheat oven to 400 degrees F (200 degrees C). In a small bowl, combine corn meal and milk; let stand for 5 minutes. In a large bowl, whisk together flour, baking powder, salt and sugar. Mix in the cornmeal mixture, eggs and oil until smooth. Pour batter into prepared pan.
Bake in preheated oven for 30 to 35 minutes, or until a knife inserted into the center of the cornbread comes out clean.