In a large saucepan over medium high heat, melt the butter and stir in the onion, potato, bay leaf, cumin, and sage.
Saute about 5 minutes, until the onion is tender.
Mix in the flour, coating the onion and potato.
Pour in the chicken stock and milk. Bring to a boil, whisking constantly until smooth. Reduce heat, and simmer 30 minutes, stirring frequently, until the potato is tender.
Mix the corn, parsley, chives, and wine into the saucepan, and cook about 5 minutes, until heated through.
Remove the bay leaf, and stir in the Cheddar cheese until melted and blended. Season with salt and pepper.