Horses seem to be very finicky. After an infestation of blister beetles on my potatoes I started reading up on them . Apparently just 4 beetles baled into the hay can kill a horse.Couple years back after planting sunflowers I had a kitty litter bucket win my planter when I switched to corn. Expensive , about $400 per bag, and thought it would be safe - after all, it’s treated and labeled just like your corn. Next year I wanted to use up that bucket but it was filled with husks, seeds all gone. Squirrels had gnawed a hole in the bucket, ate all the seeds leaving the shells. Not a dead squirrel anywhere. But your original question, yes, warning is for the seed, not the end product. But it is wise to read up because some crops are toxic to animals. Horse farmers to whom I sell some of my hay can be very finicky.

Harvey man warns of blister beetles after his horses become infected
Ted Krueger was making the rounds on his farm before spotting something unusual. “I noticed my fence had been knocked down about 5 o’clock in the morning when I was going out to see my horses…
