I won't say if it will be ok or not. The by the book answer is 303 is obsolete (and oils claiming to be 303 are banned from sale in several states). John Deere 303 used sperm whale oil in the formula and sperm whale oil is no longer available, so how can it be 303? Oils meeting the current John Deere spec JDM J20C are what is recommended by JD, if not using John Deere Hy-Gard.
Some will say the oils called 303 are fine, they use it with no problem. Others will say you will kill your tractor with 303. I choose to use oils meeting the current JD spec. Read the labels on the container or ask the vendor for a spec sheet to see the manufacturers' specs and oil meets.
Bottom line: What you chose to use in your tractor is your choice.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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