Is there a downside to keeping soil [container media] in such a container on my deck? There is if the medium is wet or moist.
With the containers covered and the medium wet, waste gasses will soon displace the oxygen in the container. Hydrogen sulfide, CO2 (in the root zone), and methane are examples of waste gasses. The organic acids generated under anaerobic conditions can/will seriously lower the pH of the medium, which in itself is a problem that requires a good deal of leaching to rectify. Generation of organic acids in pine bark is why bark destined for use in container media is piled high in wind rows and turned regularly with heavy equipment to aerate/ oxygenate the material to prevent significant reduction in pH from occurring.
Another moist/ wet media issue that arises when the medium includes controlled release fertilizer (CRF) products, like Osmocote. Release of nutrients from CRF prills is largely temperature driven. The process of composting/ decay of organic materials is exothermic, meaning the process gives off heat. Supplying the moisture essential to soil organisms hastens the composting process which releases heat which increases the release rate of the fertilizer which increases the population numbers of soil life, ad infinitum, until the fertilizer prills are empty of nutrients. This can create plasmolysis/ fertilizer burn; so it's good to avoid storing media containing CRF prills, or use it until it's been leached.
Al