Inventories

6 Months Ended

Jun. 30, 2020

Major classes of inventories are as follows:


(in thousands)	June 30, 2020		December 31, 2019		June 30, 2019
Grain and other agricultural products	$	452,339	$	907,482	$	603,318
Frac sand and propane	6,498		15,438		9,287
Ethanol and co-products	63,195		95,432		26,185
Plant nutrients and cob products	87,346		146,164		109,156
Railcar repair parts	6,945		6,020		5,695
Total Inventories	$	616,323	$	1,170,536	$	753,641

Inventories on the Condensed Consolidated Balance Sheets do not include 1.7 million, 6.4 million and 1.3 million bushels of grain held in storage for others as of June 30, 2020, December 31, 2019 and June 30, 2019, respectively. 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.

For the six month period ended June 30, 2020, the Company recorded $10.9 million lower of cost or net realizable value charge related to lower ethanol market prices and decreased demand as a result of the COVID-19 pandemic of which $10.6 million was recognized in the first quarter.