It most certainly does. Pack it right, and it lasts just as long as grain.
Whole Oats can definitely be kept for years.
Most hard grains (unground) store for years. The hard outer shell is a near perfect container.
Hermetically sealed white rice (no oxygen) will keep 8-10 years. Unfortunately, white rice has little nutritional value.
Brown rice, which contains essential fatty acids, goes rancid in about 6 months.
BTW, alfalfa seeds germinate beautifully after 3 years storage.