Inventories

Major classes of inventories are as follows:



(in thousands)	June 30, 2016		December 31, 2015		June 30, 2015
Grain	$	348,757	$	534,548	$	327,480
Ethanol and by-products	15,298		8,576		12,802
Plant nutrients and cob products	91,227		172,815		136,472
Retail merchandise	25,161		24,510		25,415
Railcar repair parts	5,793		6,894		6,050
Other	—		56		189
	$	486,236	$	747,399	$	508,408

Inventories on the Condensed Consolidated Balance Sheets at June 30, 2016, December 31, 2015 and June 30, 2015 do not include 4.0 million, 3.4 million and 1.2 million bushels of grain, respectively, held in storage for others. The Company does not have title to the grain and is only liable for any deficiencies in grade or shortage of quantity that may arise during the storage period. Management has not experienced historical losses on any deficiencies and does not anticipate material losses in the future.