Given the enormous number of instructional videos available online, learning a diverse array of multi-step task models from videos is an appealing goal. We introduce a new pre-trained video model, VideoTaskformer, focused on representing the semantics and structure of instructional videos. We pre-train VideoTaskformer using a simple and effective objective: predicting weakly supervised textual labels for steps that are randomly masked out from an instructional video (masked step modeling). Compared to prior work which learns step representations locally, our approach involves learning them globally, leveraging video of the entire surrounding task as context. From these learned representations, we can verify if an unseen video correctly executes a given task, as well as forecast which steps are likely to be taken after a given step. We introduce two new benchmarks for detecting mistakes in instructional videos, to verify if there is an anomalous step and if steps are executed in the right order. We also introduce a long-term forecasting benchmark, where the goal is to predict long-range future steps from a given step. Our method outperforms previous baselines on these tasks, and we believe the tasks will be a valuable way for the community to measure the quality of step representations. Additionally, we evaluate Video-Taskformer on 3 existing benchmarks-procedural activity recognition, step classification, and step forecasting-and demonstrate on each that our method outperforms existing baselines and achieves new state-of-the-art performance.