White smoke from the exhaust is a sign of coolant entering the combustion chamber. You say no coolant loss, or overheating. Is there a white foamy substance under the oil cap, & air bubbles escaping from the radiator? If so you have a leak and more than likely it is a blown head gasket. I would have a cooling system pressure test run. Do not continue to drive this Ford in this condition. Something is not right and you need to find out what is going on.
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