I understand your concern and I will do everything I can to answer your question. I read all the ultrasounds for my practice and I can reassure you almost for certain nothing is wrong. Lots of moms have a grade III placenta after 35 weeks - it is usually a sign of normal growth development and aging of the placenta. It can be serious for smokers, moms that take illegal narcotics (meth and cocaine are sometimes deadly) or for moms with autoimmune diseases, diabetes or high blood pressure or if it is detected early in the third trimester. To be on the safe side, your doctor may recommend weekly ultrasounds or heart beat tests (a non-stress test) to make sure the baby is getting the oxygen, fluid and nutrition they need and they will likely monitor your blood pressure and urine samples (for pregnancy induced hypertension aka toxemia). If the baby s growth, heart beat and amniotic fluid (liquor) are ok, the placenta is functioning normally and the baby is not at a significantly higher risk. If the placenta is not working well, they will be there to help. I hope that helps and best of luck to you