TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo March 24, 2022 Sal Gilbertie Chief Executive Officer Teucrium Commodity Trust c/o Teucrium Trading, LLC Three Main Street Suite 215 Burlington, VT 05401 Re: Teucrium Commodity Trust Registration Statement on Form S-1 File March 10, 2022 File No. 333-263448 Dear Mr. Gilbertie: We have limited our review of your registration statement to those issues we have addressed in our comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Registration Statement on Form S-1 Prospectus Summary Operation of the Fund, page 3 1. Please prominently discuss here and in The Soybean Market on page 65 the impacts of current geopolitical events on the soybean market by quantifying, to the extent information is available, soybean prices, the price of soybean futures contracts, the extent to which the soybean futures market is experiencing backwardation, the price of your shares, and the increased trading volume of soybean futures and your shares as of the most recent practicable date. 2. Please disclose here, if true, that the fund is in the process of entering into an agreement Sal Gilbertie Teucrium Commodity Trust March 24, 2022 Page 2 with a new futures commission merchant (FCM) and discuss the attendant risks. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Refer to Rules 460 and 461 regarding requests for acceleration. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement. Please contact John Stickel, Attorney-Advisor at (202) 551-3324 or J. Nolan McWilliams, Acting Legal Branch Chief, at (202) 551-3217 with any questions you may have. Sincerely, FirstName LastNameSal Gilbertie Division of Corporation Finance Comapany NameTeucrium Commodity Trust Office of Finance March 24, 2022 Page 2 cc: W. Thomas Conner FirstName LastName