Fill a medium saucepan with 2 quarts of water. Place farro and water into a large saucepan over high heat. Season the water with 1/2 teaspoon salt. Bring to a boil. Reduce heat to low and simmer, uncovered, until farro is softened, about 30 minutes. Rinse under cool water, then drain well and set aside to cool.
Drain the farro using a fine mesh sieve. Rinse under cool water and drain well. Placed cooled farro into a salad bowl.
Pit and dice 2 to 4 medium peaches. Add to the farro along with 1 cup corn kernels, 2 cups arugula, 1/2 cup crumbled feta cheese, 1/2 cup chopped fresh basil, and 1/4 cup diced red onion.
In a small microwave-safe bowl, heat 2 tablespoons honey for 10 seconds in the microwave to thin out. Whisk together with 2 tablespoons white balsamic vinegar, 2 tablespoons extra virgin olive oil, 1 teaspoon dijon mustard, 1/4 teaspoon salt, and 1/4 teaspoon black pepper.
Drizzle dressing on top of salad and toss to combine. Serve at room temperature or chilled.