Inventories

Major classes of inventories are as follows:



(in thousands)	March 31, 2017		December 31, 2016		March 31, 2016
Grain	$	443,870	$	495,139	$	450,414
Ethanol and co-products	15,549		10,887		11,895
Plant nutrients and cob products	165,584		150,259		207,109
Retail merchandise	11,082		20,678		27,792
Railcar repair parts	5,209		5,784		6,185
Other	—		—		57
	$	641,294	$	682,747	$	703,452

Inventories on the Condensed Consolidated Balance Sheets at March 31, 2017, December 31, 2016 and March 31, 2016 do not include 2.7 million, 0.9 million and 2.8 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.