@Bmd2k1 head space depends;
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surface area if you are the local winery and fermenting in 24” tall plastic skids you oxygenate more than if you are in a 36” Brute that is half full
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what are you fermenting, a wine which is high tannin as red grape or bitter apple has more redox buffering si it is less critical. As Bryan pointed out skins form a cap and you need space. My current black currant with cocoa powder is foaming badly, I have also seen Maurivin B yeast foam filling 1/3 of a Big Mouth, commercial yeast generally don’t foam.
Are you fermenting a kit which is pretty well filtered so it doesn’t gain with space.
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where in the fermentation are you? In exponential growth you need oxygen. My club mentor suggested whites should be racked at 1/3 sugar (1.050) to oxygenate one last time and then kept under air lock. A logic answer is that prior to alcohol producing metabolism it really doesn’t matter. You are farming in a way to grow happy yeast and once the yeast population is there anaerobic farming to make tasty alcohol. Of course a high tannin is an antioxidant with different goals as extraction.
* what kind of
shelf life do you want, oxidation is cumulative ie if you spend a lot of redox potential in a primary you don’t have it when the wine is two or five years old, If you want contest winning shelf life you will minimize all oxygen.
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what is practical, what hardware do you own. Every winery faces the question of I have pressed NN liters of juice, what tank do I have open? ,,, and then make it work in a way to have happy yeast and maintain redox potential of the soup.