Yeah it's grease. This would be indicated by the grease zirk (nipple) you saw on the steering neck. This is where you would put the grease in. A little will seep out the bottom after you grease it. Just wipe it off when it comes out.
There should be something about this in your owners manual also. Otherwise a service manual would be a good purchase.
There should be something about this in your owners manual also. Otherwise a service manual would be a good purchase.