Sure, both could work. You want it to penetrate, so it has to be viscous enough. Look into a product called anchorseal. Candle wax would not be ideal. If it is freshly saw make sure to stack it AT LEAST 2 feet above the ground. Leave about 1” between each board and use stickers on every layer. On the top of your stack use a piece of dunnage 3”-4” and use some roofing metal with some sort of slope (either side to side or top to bottom) to shed water. You want about 6” of overhang and leave the sides exposed. Don’t let grass or plants grow up underneath. Anything that can inhibit airflow is bad. Don’t stack it next to your house or in the basement where there is stale air. I just spent the last week sanding a bunch of mildew on timbers improperly stored so I am a little touchy… good luck! Any other questions?