Guys I'm reporting back and will start off with saying I'm alittle embarrassed. Here's what I found out. I use Shell Rotella 15w40 motor oil. To start off it has a "GREEN TINT" to it, something I just discovered when seen thru the right light.
Here's the story in detail. When dumping drained motor oil from tractor into my waste barrel I stand at the open garage door where daylight streams in. When pouring oil from my pan into the barrel it looks like normal waste oil till I get to the end of the pour which thins out and and permits the sun to shine thru, and there is a noticable green tint to the oil. And it's usually at the end of a pour where you see coolant which has settled to the bottom in my experience. As a Chevy mechanic I've opened drain plugs on 5.7L motors to see a quart of pure coolant pour out before any oil would start to flow.
So I immediately went and Googled Shell Rotella green color and saw a bunch of Rotella users reporting the very same thing I noticed with this green tint. Some reported it's an additive others report it's just the color etc.
Two things that tripped me up, first I never added coolant to the system of this tractor but I was so convinced what I was seeing at the end of the pour was coolant I just said "It's Coolant and it's got to be coming from the cooling system. Stupid me.
The second thing is when taking out the engine drain plug and watching the oil gush out there was no green color because the oil stream was heavy and lack of sunlight under the tractor. And this is on a cold engine that has sat for a day.
Just to sum this up my reason for draining oil on a cold motor was to lower the level which I had slightly over filled on a previous oil change I did days before.
So I feel stupid but very relieved and figured you guys might get a good laugh over this. Thanks all for great responses to my situation.