According to my 340 manual the original PS lubricant was 3 1/2 pints of Hytran, which is about a 20w oil, or "worm gear lubricant", which I take for 90w. In my mind that option would suggest just about anything works. My outer oils seals were leaking as well, and I'd read that using corn head grease would reduce leakage considerably. Corn head grease is a light lubricating grease, lighter than bearing grease. I believe corn head grease is a #1 grease, while regular bearing grease is #2, but my memory may fail me on that.
I learned the hard way that tapping the end of the steering shaft while trying to remove the steering wheel with a puller at least on the 340's PS is very likely to push out an expansion plug, and quickly drained the PS housing. Faced with that dilemma, I pumped in 2 1/2 tubes of JD corn head grease, the leaks stopped, and PS works fine.
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