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Fair Value Measurements (Teucrium WTI Crude Oil Fund [Member])
9 Months Ended
Sep. 30, 2012
Teucrium WTI Crude Oil Fund [Member]
 
Fair Value Measurements

Note 3 - Fair Value Measurements

 

The Fund's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Fund's significant accounting policies in Note 2. The following table presents information about the Fund's assets and liabilities measured at fair value as of September 30, 2012 and December 31, 2011:

 

September 30, 2012

                Balance as of
Assets:   Level 1   Level 2   Level 3   September 30, 2012
Cash equivalents   $ 1,879,950     $ -     $ -     $ 1,879,950  
Commodity futures contracts     34,686       -       -       34,686  
Total   $ 1,914,636     $ -     $ -     $ 1,914,636  
                                 

 

                Balance as of
Liabilities:   Level 1   Level 2   Level 3   September 30, 2012
Commodity futures contracts   $ 85,959     $ -     $ -     $ 85,959  
                                 

 

December 31, 2011

                Balance as of
Assets:   Level 1   Level 2   Level 3   December 31, 2011
Cash equivalents   $ 4,139,910     $ -     $ -     $ 4,139,910  
Commodity futures contracts     116,142       -       -       116,142  
Total   $ 4,256,052     $ -     $ -     $ 4,256,052  

 

 

 

                Balance as of
Liabilities:   Level 1   Level 2   Level 3   December 31, 2011
Commodity futures contracts   $ 168     $ -     $ -     $ 168  
                                 

 

During the period ended September 30, 2012 and from the commencement of operations (February 23, 2011) through September 30, 2011, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.