Probably cheaper to work it for a while so the water evaporates out while it is hot. Plowing all day got rid of it. Running the hydraulics under pressure will heat it up if you pinch them off a little.
I think the 340 is like many of the others and the rock shaft housiing under the seat is full of fluid. It has a drain tube that sticks up to keep it full. The bottom is probably full of sludge as well. It probably holds a couple gallons or more so you never can get it all out when you change it. My drain tube is welded but there is a long drain plug towards the front that can be pulled. Then it only keeps an inch or so in. But all your lines will still have milky fluid in them.
Between water leaking in around the shifter and condensation in the tranny, rear end, and rock shaft housing, it is near impossible to keep water out.
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