Combine the rice, corn and 2 cups water in a medium pot and bring to a boil. Add the butter and salt and swirl in the pan to combine and melt the butter. Decrease the heat to medium low, cover and cook until the rice is almost cooked through, about 10 minutes. Turn off the heat and let sit, covered, for 5 minutes to finish cooking.
Fluff the rice with a fork, add the basil and stir to combine. Serve immediately.