I think df.replace() does the job, since pandas 0.13:

df = pd.DataFrame([
    [-0.532681, 'foo', 0],
    [1.490752, 'bar', 1],
    [-1.387326, 'foo', 2],
    [0.814772, 'baz', ' '],     
    [-0.222552, '   ', 4],
    [-1.176781,  'qux', '  '],         
], columns='A B C'.split(), index=pd.date_range('2000-01-01','2000-01-06'))

# replace field that's entirely space (or empty) with NaN
print(df.replace(r'^\s*$',