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The items are generated when you open the container, with a few exceptions. Every object has a template. Those particular templates are in the Logic.dsres that's located in the resource folder, not the saved game. The templates contain the information about the content of the containers, which have parameters of what sort of loot they will contain. Different regions have different parameters. For example, the barrels right next to the farmhouse where you start off sometimes drop money, sometimes nothing. There are two static containers on Norick's farm and those will always drop a zap spell and a fire shot spell. The rest of the starter region containers have a chance to drop a small amount of gold, small potions, low level spells or nothing at all.

Only the templates of the items that are in your inventory are stored in the saved game files. This information will change with every saved game since you will be selling things/keeping them, whatever. Each saved game only stores the item information current at the time you save it.