Fair Value Measurements (Teucrium Commodity Trust [Member])

6 Months Ended

Jun. 30, 2013

Teucrium Commodity Trust [Member]

Note 3 - Fair Value Measurements

The Trust's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust's significant accounting policies in Note 2. The following table presents information about the Trust's assets and liabilities measured at fair value as of June 30, 2013 and December 31, 2012:

June 30, 2013

							Balance as of
Assets:	Level 1		Level 2		Level 3		June 30, 2013
Cash equivalents	$	56,431,521	$	-	$	-	$	56,431,521
Commodity futures contracts
WTI crude oil futures contracts		61,292		-		-		61,292
Soybean futures contracts		35,175		-		-		35,175
Total	$	56,527,988	$	-	$	-	$	56,527,988

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		June 30, 2013
Commodity futures contracts
Corn futures contracts	$	2,823,725	$	-	$	-	$	2,823,725
Natural gas futures contracts		159,860		-		-		159,860
WTI crude oil futures contracts		6,720		-		-		6,720
Soybean futures contracts		102,987		-		-		102,987
Sugar futures contracts		114,329		62,082		-		176,411
Wheat futures contracts		513,850		194,225		-		708,075
Total	$	3,721,471	$	256,307	$	-	$	3,977,778

December 31, 2012

							Balance as of
Assets:	Level 1		Level 2		Level 3		December 31, 2012
Cash equivalents	$	52,575,291		-		-	$	52,575,291
Commodity futures contracts
Natural gas futures contracts		9,550		-		-		9,550
WTI crude oil futures contracts		44,872		-		-		44,872
Soybean futures contracts		63,200		-		-		63,200
Wheat futures contracts		15,762		-		-		15,762
Total	$	52,708,675	$	-	$	-	$	52,708,675

							Balance as of
	Level 1		Level 2		Level 3		December 31, 2012
Liabilities:
Commodity futures contracts
Corn futures contracts	$	2,213,775	$	-	$	-	$	2,213,775
Natural gas futures contracts		233,919		-		-		233,919
WTI crude oil futures contracts		58,090		-		-		58,090
Soybean futures contracts		284,575		-		-		284,575
Sugar futures contracts		78,378		-		-		78,378
Wheat futures contracts		206,850		-		-		206,850
Total	$	3,075,587	$	-	$	-	$	3,075,587

Transfers into and out of each level of the fair value hierarchy for the JUL13 Corn Contracts, NOV14 Soybean Contracts, FEB15 Sugar Contracts, and the DEC14 Wheat Contracts, for the six months ended June 30, 2013 were as follows:

	Transfers		Transfers		Transfers		Transfers		Transfers		Transfers
	into		out of		into		out of		into		out of
	Level 1		Level 1		Level 2		Level 2		Level 3		Level 3
Liabilities (at fair value)
Derivative contracts
Corn future contracts	$	1,010,962	$	1,010,962	$	1,010,962	$	1,010,962	$	-	$	-
Soybean future contracts		6,850		6,850		6,850		6,850		-		-
Sugar future contracts		-		62,082		62,082		-		-		-
Wheat future contracts		-		194,225		194,225		-		-		-
Total	$	1,017,812	$	1,274,119	$	1,274,119	$	1,017,812	$	-	$	-

There were no transfers into and out of each level of the fair value hierarchy for the Trust or the Funds for the six months ended June 30, 2012.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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