Step 1

Cut the corn kernels from the cobs using a sharp knife; set the corn kernels aside. Holding the corn cob upright with the base resting on a plate or rimmed baking sheet, scrape the blade of the knife down the corn cob to extract any extra corn pulp or juices. Reserve the juices and pulp (about 1 cup); discard the cobs or freeze them for making stock or chowder. Add 4 cups of the corn kernels to a blender or food processor; pulse until very finely chopped; set aside.

Step 2

In a Dutch oven or large skillet, melt the butter over medium heat. Add the olive oil and onion; cook, stirring occasionally, until softened, about 5 minutes.

Step 3

Add all the corn kernels, corn pulp and juices, salt, and pepper, stirring to combine. Add the milk and bring to a simmer. Reduce the heat to medium low, and cook, stirring often, until the mixture has thickened, about 30 minutes.

Step 4

Just before serving, stir in the basil. Garnish with extra basil, if you like.