Inventories

Major classes of inventories are as follows:



	December 31,
(in thousands)	2015		2014
Grain	$	534,548	$	570,916
Ethanol and by-products	8,576		13,154
Plant nutrients and cob products	172,815		181,136
Retail merchandise	24,510		23,810
Railcar repair parts	6,894		6,431
Other	56		208
	$	747,399	$	795,655

Inventories on the Consolidated Balance Sheets at December 31, 2015 and 2014 do not include 3.4 million and 3.1 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.