If you seal wet wood, it will rot. Then, you'll be writing to 'us' saying your posts rotted and they need to be replaced.
So, simply put, you need to let the wood dry out. Then, you need to prime it. Use a high quality primer like BINZ or something. Visit your local Paint Retail store for your paint and primer. NOT the Home Depot or Lowe's or whatever. It's my personal opinion that their material is not the best. Use 2 coats of primer on your wood. DO read the can first BEFORE you apply ANY primer or paint to be sure you're folling the directions. You do need to 'clean up' the wood. The most IMPORTANT part of a paint job is the prep work. Scrate and brush and dust and dry off the wood as best you can. Anything that's 'loose' or broken should be removed or repaired.