I've always used untoasted, since that's always the way I find it at the
bulk stores.
The only comment about toasting is that I think any browning makes things
just a tad more carcinogenic. (Also, it would reduce the water content,
which could be a plus or a minus, depending.) This doesn't stop me when I
want something toasted ;-), but wheat germ does seem just fine to me untoasted.
Hope this helps,
Jess
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