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Step 1
Cut the corn off the cob and use the back of the knife to scrape off the juices. Do this over a baking dish or large bowl to catch the kernels. Set the cut corn kernels aside for the velouté.
Step 2
Fill a large pot with the water. Break the cobs in half and add to the water along with the garlic and thyme. Bring to a boil, then reduce heat and simmer for around 45 minutes.
Step 3
Strain over a large bowl to remove the cobs, thyme, and garlic. Add the salt to the broth.
Step 4
Heat a large pot over medium-low heat. Add the tablespoon of oil and shallots and sauté for 3-5 minutes until the shallots are softened. Add the thyme and cook for 30 seconds, then add the corn and sauté 5 minutes. Add broth and simmer 15-20 minutes, then turn off the heat. Remove sprigs of thyme.
Step 5
Transfer soup to a blender and add the 1/4 cup of olive oil. Blend until smooth, venting the steam as you go for safety.
Step 6
Pour the soup back into the pot through a mesh strainer to separate any remaining solids for the creamiest, most luscious soup. Add salt and freshly ground pepper, then taste and adjust seasoning if desired.
Step 7
Heat oil and chiles in a small pot over low heat. Keep warm for ~5 minutes then turn off heat and let cool completely. Watch carefully to keep the chiles from burning. Strain to separate oil when cool.
Step 8
The soup can be served warm or cold, topped with some thinly sliced radishes, basil chiffonade, and a drizzle of chili oil.