Inventories

Major classes of inventories are as follows:



	December 31,
(in thousands)	2017		2016
Grain	$	505,217	$	495,139
Ethanol and coproducts	11,003		10,887
Plant nutrients and cob products	126,962		150,259
Retail merchandise	—		20,678
Railcar repair parts	5,521		5,784
	$	648,703	$	682,747

Inventories on the Consolidated Balance Sheets at December 31, 2017 and 2016 do not include 1.0 million and 0.9 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.