I would classify the smoke as closer to white than black based on what I can see and how well my display is rendering the colors. You are getting at least some fuel but I'd prefer to see the smoke a little heavier, darker, and more consistent than what it's showing to know there is enough temperature for good combustion and an adequate fuel supply. Looks like it was pretty windy at the time which dissipated the smoke quickly.
Getting as much fuel into the oil as you appear to be is a new experience for me. Can you see the fuel level on the tank through the sight tube? It would be nice to know if it goes down after a few hours on it's own, or only when you are cranking on it (?)
Although smoke can give good hints as to what is going on, it doesn't always offer clear answers as to exactly what the root cause of problems are. Most of my tractors have a tendency to smoke white which is usually associated with coolant getting into the combustion chamber, but I haven't noticed any of them losing coolant. Exhaust gas carries a lot of water vapor that when condensed also appears white. That's why you see a lot of it from vehicles on cold days before engines and exhaust piping systems are warmed up.
The next step I'd say would be a compression check and it sounds like you're already heading in that direction. Pull all the glow plugs to allow the engine to turn over easier and loosen all the injector lines at the injectors to prevent fuel from being pumped in. Even when the fuel lever is in the off position, a little bit still gets injected into the lines and can give false readings of compression if it starts to burn in the cylinder you're checking.