Inventories

Major classes of inventories are as follows:



(in thousands)	September 30, 2016		December 31, 2015		September 30, 2015
Grain	$	262,165	$	534,548	$	325,536
Ethanol and by-products	7,734		8,576		8,365
Plant nutrients and cob products	126,922		172,815		161,562
Retail merchandise	24,985		24,510		26,079
Railcar repair parts	5,948		6,894		6,057
Other	—		56		190
	$	427,754	$	747,399	$	527,789

Inventories on the Condensed Consolidated Balance Sheets at September 30, 2016, December 31, 2015 and September 30, 2015 do not include 1.0 million, 3.4 million and 3.2 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.