The distribution of Fusarium molds and fumonisins was determined in commercial and experimental dry‐milled corn fractions. Fusarium infection of the commercial whole corn samples ranged from 10 to 28%; F. moniliforme was the predominant species. Fusarium counts in corn fractions were <100 colony‐forming units (CFU)/g in flaking grits, <100 ‐ 6.4 × 104 CFU/g in bran, <100 − 1.6 × 104 CFU/g in germ, and <100 − 2.7 × 103 CFU/g in flour. Fumonisin concentrations were ≤0.1 μg/g in flaking grits, 0.2–1.1 μg/g in flour, 0.1–2.0 μg/g in germ, and 1.5–3.2 μg/g in bran. Yellow, blue, and white dent corns naturally contaminated with varying levels of fumonisins (25.4, 3.9, and 0.3 μg of fumonisin B1 per gram) and Fusarium molds (3.9 × 106, 8.0 × 105, and 2.6 × 104 CFU/g) were experimentally dry milled with a horizontal drum degermer. Number 5 grits contained significantly lower Fusarium counts and fumonisin concentrations than the whole kernel corn. Fusarium counts and fumonisins increased as grit size decreased, and high Fusarium counts and fumonisin concentrations were found in germ, bran, and fines.