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[prim0pyr0]

Volume is just the amount of space something occupies. It has nothing to do with it's moisture content.

1m3 of water has 100% moisture content.
1m3 of sand probably has less than 5% moisture content.

Both occupy a volume of 1m3.

In terms of wood moisture content: 1m3 of water is ((1000kg - 0kg)/0) x 100 = undefined

[Psi]

You're right, but that's just because of the peculiar definition of moisture content. It only really makes sense for small percentage of water content. You reach 100% when there is 500kg water in 500kg wood, but we all know that really that's just 50% water content.