I tried to post a pictorial of the hydro system but it won't work.
Go to the IH parts page and type in 300 then scroll to the U and hydraulics.
The link below may work.
The pump is more than likely the problem. If you have the aluminum pump they usually cannot be rebuilt.
BUT, I had a similar problem with my case 1030 and it was the relief valve sticking and NOT the pump. All I did was take the relief valve out and clean it and put it back in and it works fine.
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