Kuehneromyces mutabilis (Schaeff.) Singer & A.H. Sm. (syn. Pholiota mutabilis) grows in dense tufts on hardwood stumps. Its hygrophanous caps are strikingly two-toned as they dry, from the center outward (dark rusty brown at the edge, pale tan in the middle). It is a good edible and is cultivated on logs in Central Europe, but it is easily confused with the deadly Galerina marginata.
Europe, North America and Asia.
No strains cataloged yet for this species.
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