According to
http://en.wikipedia.org/wiki/Bourbon_whiskey
The Federal Standards of Identity for Distilled Spirits (27 C.F.R. 5) state that bourbon made for U.S. consumption[2] must be:
• made from a grain mixture that is at least 51% corn;[3]
• aged in new, charred-oak barrels;[3]
• distilled to no more than 160 (U.S.) proof (80% alcohol by volume);[3]
• entered into the barrel for aging at no more than 125 proof (62.5% alcohol by volume);[3] and be
• bottled (like other whiskeys) at 80 proof or more (40% alcohol by volume).[4]
Bourbon has no minimum specified duration for its aging period, but it must be aged at least briefly.[5]

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