One possibility is that someone dumped coolant into the engine oil fill by mistake/lack of knowledge, etc....just didn't want it to freeze and burst over the winter and was in a hurry, "this must be it".
I think I'd pressurize the radiator to about 2-5 psi and see if you get any more running out the oil pan drain plug (or could feel the air).
If that holds, I think I'd fill with (cheap) oil again and run for a few minutes and drain it again.
If that holds, use a name-brand oil and do some testing!
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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