I also have a Farmall 340, but will relate something on my Allis Chalmers CA. It was struggling under load (propelling me and it up grade on a tractor ride). I checked the flow, knowing old gas in the tank, a little water in the bowl, drained the bowl. Later it popped off a few times in the driveway then gave up. Looked like fuel in the bowl, but upon closer look, it was all water. Try fresh fuel. I peeked in my 340 tank and it has pitted rust, but not junk plugging the tank hole, well, there is the gauge float that obviously is no good. You may have already done so, but check the condition of the plugs. Not all plugs are created equal and fouled can give problems. Others more knowledgeable will chime in w/info also - great site this is. Tell me more 'bout your 340, lot's of 340 enthusiasts here, good luck and post back w/problems or solution you found to help others out.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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