Tat is right (as usual) - the fluctuations do the most harm. Earth covered magazines (also called "igloos") provide the best storage because they maintain a steady temperature.
Not many of us store personal ammo in igloos (though I suspect a few readers have large quantities...), but IMO a garage in CO is not the best place for long-term storage.
I could not find a precise reference, but from USAF TO 11A13-10-7, Specialized Storage and Maintenance Procedures, Small Arms Ammunition, Work Package 40, para 11, Special Storage Instructions:
Extreme heat may cause dangerous pressure
to develop and a high combination of high
temperature and humidity will cause
propellant to deteriorate rapidly. Tracer
ammunition is subject to rapid deterioration
when damp.
And from TM 9-1300-214, Military Explosives, para 14-4c(1), Storage of Explosives and Ammunition:
Sudden changes in temperature may damage
airtight containers or may result in
excessive condensation of moisture.
Yes, military ammo is shipped/stored in CONEX containers and MILVANs all the time, and it's possible MilSpec IMR powder is designed to withstand temperature extremes. Still, I do not recommend a garage for long-term storage.