Fill a small bowl with very cold water. Bring a large pot of salted water to boil. Add asparagus and cook until crisp-tender, about 2 minutes; using a slotted spoon, transfer to cold water. Add farro to boiling water and cook until al dente, about 18 minutes. Drain.

Combine cream and saffron. In a small saucepan, heat butter and shallot over medium heat for 2 minutes. Add wine and cook until evaporated. Add cream mixture. Cook, whisking constantly for 2 minutes, then reduce to a gentle simmer and cook, whisking occasionally, until sauce is reduced by half, about 5 minutes. Whisk in scant
1/4  teaspoon salt. Remove from heat and strain through a fine-mesh strainer into a small saucepan.

Drain asparagus and pat dry. Heat 1 tablespoon oil in a large nonstick skillet over medium-high heat. Add asparagus and cook until lightly golden; transfer to a plate. Add shrimp to skillet and cook, stirring, for 1 minute. Add scallops and cook for 1 minute more. Stir in farro and cook, stirring, just to heat through. Remove from heat, stir in remaining 2 tablespoons oil and parsley; season with salt and pepper.

Heat saffron sauce. Spoon sauce onto serving plates and spread with the back of a spoon. Spoon farro and seafood over sauce. Garnish with asparagus and basil.