Before you take everything apart, remove the oil pan and look carefully where the coolant is coming from. If it is coming from around the outside of the bottom of the sleeves then it may be that only the o-rings need to be changed. If the coolant is coming from the inside of the sleeves, then you have holes in the sleeves from cavitation or problems with the head or head gasket. If the coolant is coming from the engine bearing, then the problem most likely is the oil cooler. This is not likely the cause unless you have not had the tractor running for a while since oil coolers will allow oil into the cooling system and the first indication is oil coming out of the radiator.
Based on the age of the tractor, if it has not been overhauled before, I would bet on the o-rings on the bottom of the sleeves as the problem. Cavitation on these engines is not as great a problem as it is on the 400 series engines. If it ran fine before you noticed this problem you may be able to get by with just replacing the o-rings. To do that you will need to remove the sleeve and piston as an assembly. If you remove the piston from the sleeve you will need to replace the rings or you will have oil consumption problems using the old rings.
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