In a medium bowl mix together farro and the 4 cups water. Soak for 30 minutes and drain well.
In a medium saucepan heat the broth and keep warm over low heat.
In a large saucepan heat olive oil and butter over medium heat. Add squash, onion, garlic, salt and pepper; cook and stir for 5 to 6 minutes or until onion is just softened. Add the drained farro and cook, stirring constantly, about 3 minutes or until toasted. Add the wine and stir constantly about 2 minutes or until liquid is evaporated. Add ½ cup of the hot broth and stir constantly until completely absorbed. Continue adding the remaining broth, ½ cup at a time, until the farro is creamy and just tender, about 25 minutes total. Remove from heat and stir in the ⅓ cup shredded Parmesan cheese and 1 tablespoon snipped fresh sage.
Spoon onto four serving plates. If desired, garnish with additional fresh sage leaves and finely shredded Parmesan cheese.