More than likely the steering unit on the left front behind the radiator needs to be rebuilt. If you search this forum for M5 or 602 power steering it should give you archived responses to repair it. Usually the actuator pin and bushing gets wore and doesn't move the separator valve enough to change the flow of oil to assist in steering.
 
They can be tricky to get set properly. You have to remove the steering unit just in front of the steering shaft knuckle on the lower left front of the tractor and disassemble it to replace the parts and O rings. A manual on them would be helpful. MMDEL on here knows a lot about those systems. That is where a lot of my knowledge on them came from. I can find his number for you if you need it. He might have the parts you need or you can also check an Agco dealer like Welters Farm Supply in Missouri. Their phone number is 417-498-6496
 
Thanks, I may not get to it for a while. I also have problem of pto turning all the time. This tractor has loader and just feed with it but would like to fix these issues.
 
Many of the pto on these old tractors seem to turn most of the time. Welters could probably provide some advice on fixing or troubleshooting your steering problem. Good luck
 
These questions can make it difficult for us keyboard repair gurus to answer. Way more questions to be answered before a resolution is offered. What power steering pressure do you now have? Any fluid leakage? What is the hydraulic pressure now? Spindle bushings OK? Thrust bearings in good condition? When front end is off the ground can you turn the wheels lock to lock easily? Is the tire/wheel setting close to the spindle or out a distance from the spindle? Does the steering gear have proper lubrication? Lots of questions, many answers
 
The pto turning all the time is usually from oil drag on the pto clutch plates in the rear end or can be from warped plates. That is normal.
 
I am currently replacing that troublesome old unit on my Jet Two with a Char-Lynn torque generator. To that end I have removed the bolster piston and am working on the mount. The unit is going to be fitted right in place of the original. I know this doesn't keep it stock but we still use this tractor in the field. Will update as we progress.
 

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