Grain storage loss is a major contributor to post-harvest losses and is one of the main causes of food insecurity for smallholder farmers in developing countries. Thus, the objective of this review is to assess the conventional and emerging grain storage practices for smallholder farmers in developing countries and highlight their most promising features and drawbacks. Smallholder farmers in developing countries use conventional grain storage structures and handling systems such as woven bags or cribs to store grain. However, they are ineffective against mold and insects already present in the grain before storage. Different chemicals are also mixed with grain to improve grain storability. Hermetic storage systems are effective alternatives for grain storage as they have minimal storage losses without using any chemicals. However, hermetic bags are prone to damage and hermetic metal silos are cost-prohibitive to most smallholder farmers in developing countries. Thus, an ideal grain storage system for smallholder farmers should be hermetically sealable, mechanically durable, and cost-effective compared to the conventional storage options. Such a storage system will help reduce grain storage losses, maintain grain quality and contribute to reducing food insecurity for smallholder farmers in developing countries.