Here on my test server, default loglevel was "info". I changed it to "debug" level, but with no luck.
I can't see smtp logs in Console utility, as I can't see smtp logs in Server.app log section.
It seems that the ongoing stream can be viewed in terminal with
log stream --predicate '(process == "smtpd") || (process == "smtp")' -info
And the old logs can be viewed with the command
log show --start "2016-11-06" --end "2016-11-07" --predicate '(process == "smtpd") || (process == "smtp")' -info
with loglevel mode set to "info". (fine tuning with hour:minutes also allowed, see "man log" command in terminal)
So, informations are stored in log system, but something odd happens when console utility perform a query on the log database.
It's enough for me to trace what is going and for troubleshooting purpose.
If anyone finds something better to share, I'd like it very much!