Dissolve the yeast in the water in a bowl, stirring. Add the whole wheat flour and 3 cups of the all-purpose flour, and mix by hand. Add the salt, pepper, olive oil, olives, and basil. Blend well with your hands. Knead and form into a round ball of dough. Place in a clean bowl, cover with a towel, and place in a warm spot to rise for 30 minutes.
Line a baking sheet with parchment or wax paper. When the dough has risen to double the size, sprinkle with the remaining handful of all-purpose flour. Fold sides of the dough up over the flour, turning the dough and continuing to fold the sides over.
About 15 minutes before baking, preheat the oven to 350ºF.
Place the dough on the baking sheet and bake until firm and crusty, for about 45 minutes. Remove from the oven and allow to cool until just warm before serving.
Yield: 1 round peasant loaf