Inventories

Major classes of inventories are as follows:



	December 31,
(in thousands)	2016		2015
Grain	$	495,139	$	534,548
Ethanol and by-products	10,887		8,576
Plant nutrients and cob products	150,259		172,815
Retail merchandise	20,678		24,510
Railcar repair parts	5,784		6,894
Other	—		56
	$	682,747	$	747,399

Inventories on the Consolidated Balance Sheets at December 31, 2016 and 2015 do not include 0.9 million and 3.4 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.