If you have pressure in cooling system after tractor sits all night I would suspect a head gasket or manifold leak,but lean more towards a head gasket leak,gasket on head(s) may be starting to leak when eng gets hot,after you stop eng and it starts to cool down leak may stop but exhaust gas stays trapped in cooling system maintaining pressure in same,as far as coolant out exhaust it's probably evaporateing in muffler/exh pipe as it leaves eng.
This is why I said to do a pressure test on cooling system,it will help you track down/isolate problem when eng cold/hot(you'll probably have to remove thermostat when useing tester).If you can't borrow a tester most autozone stores rent them,just follow instructions included with same,worst possible case is an internal crack in block/head(s).
Years ago I had a similar problem with coolant loss on a 360 V8 eng,after eng got hot it started loseing coolant & I would have pressure trapped in cooling system when eng cold,I suspected a leaking head gasket/warped head,pulled heads twice & replaced gaskets plus had heads ground,still had problem,this problem bugged me for 6 months,I got mad one day & went to junkyard & got a used intake manifold,that cured problem,there was probably an internal crack in same between water crossover & heat riser passage for carb that would open up when eng hot,then when eng cooled leak would stop & exhaust gas would stay trapped in cooling system.
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